Mohnish Pabrai – Recommends 7 Top Investing Books… And Two Websites To Become A Better Investor

Mohnish Pabrai recently did a great presentation for the 2018 Dakshana students at JNV Bengaluru Urban, Karnataka, in India. At the start of the presentation Pabrai made a recommendation to the students to read the following seven books and two websites to become a better investor:

Also see his full list of book recommendations here

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Mohnish Pabrai Indian-American businessman, investor, and philanthropist famous hedge fund investors, value investors, chai with pabrai, heads i win tails i don't lose, pabrai funds, Mosaic: Perspectives on Investing, clone investing, The Education of a Value Investor, The Dhandho Investor: The Low - Risk Value Method to High Returns, Zinc, Horsehead holdings

1. The 1957 – 1970 Buffett Partnership Letters. Which can be found here:

http://csinvesting.org/wp-content/uploads/2012/05/complete_buffett_partnership_letters-1957-70_in-sections.pdf

2. The Berkshire Hathaway Shareholder Letters. Which can be found here:

http://www.berkshirehathaway.com/letters/letters.html

3. Buffett: The Making of an American Capitalist, by Roger Lowenstein. Which can be found here:

4. The Snowball: Warren Buffett and the Business of Life, by Alice Schroeder. Which can be found here:

5. Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded. Which can be found here:

6. The Dhandho Investor: The Low-Risk Value Method to High Returns, by Mohnish Pabrai. Which can be found here:

7. Berkshire Hathaway Letters to Shareholders 2016, by Warren Buffett. Which you can find here:

Berkshire Hathaway Letters to Shareholders, 2016 by [Buffett, Warren]

8. How to Get Rich: One of the World’s Greatest Entrepreneurs Shares His Secrets, by Felix Dennis. Which you can find here:

9. The Origin and Evolution of New Businesses, by Amar Bhide. Which can be found here:

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Article by Johnny Hopkins, The Acquirer's Multiple




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The Acquirer's Multiple
The Acquirer’s Multiple® is the valuation ratio used to find attractive takeover candidates. It examines several financial statement items that other multiples like the price-to-earnings ratio do not, including debt, preferred stock, and minority interests; and interest, tax, depreciation, amortization. The Acquirer’s Multiple® is calculated as follows: Enterprise Value / Operating Earnings* It is based on the investment strategy described in the book Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations, written by Tobias Carlisle, founder of acquirersmultiple.com. The Acquirer’s Multiple® differs from The Magic Formula® Earnings Yield because The Acquirer’s Multiple® uses operating earnings in place of EBIT. Operating earnings is constructed from the top of the income statement down, where EBIT is constructed from the bottom up. Calculating operating earnings from the top down standardizes the metric, making a comparison across companies, industries and sectors possible, and, by excluding special items–earnings that a company does not expect to recur in future years–ensures that these earnings are related only to operations. Similarly, The Acquirer’s Multiple® differs from the ordinary enterprise multiple because it uses operating earnings in place of EBITDA, which is also constructed from the bottom up. Tobias Carlisle is also the Chief Investment Officer of Carbon Beach Asset Management LLC. He's best known as the author of the well regarded Deep Value website Greenbackd, the book Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014, Wiley Finance), and Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012, Wiley Finance). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. Articles written for Seeking Alpha are provided by the team of analysts at acquirersmultiple.com, home of The Acquirer's Multiple Deep Value Stock Screener. All metrics use trailing twelve month or most recent quarter data. * The screener uses the CRSP/Compustat merged database “OIADP” line item defined as “Operating Income After Depreciation.”