Mohnish Pabrai is a name you may not recognise today – but you soon will. Forbes lists Mr. Pabrai as ‘the next Warren Buffett’, and once you hear from Mohnish, you can clearly see that he has the dedication and lives with truthful virtues to remain at the top of his field.
Mohnish lives in Orange County, California with his wife and two daughters and he spends much of his time evaluating businesses for investment. He reveals that he only invests in 2-3 businesses a year, where in actuality he is analysing thousands of businesses. Mohnish paid $650,000USD to have lunch with Warren Buffett. Why did he do this you may ask? Listen to find out.
Mohnish Pabrai - The Clever Investor Says Why Be A Hoarder?
Is to ask yourself that question just so so one question you can ask yourself what what is the Jalaal that you'd be willing to do. Well little or no. And the second second thing is is to try you know try on different gloves so you know do different part time jobs or internships so you know if you would work for someone see how you feel about the work in your day and you come back at night and would you like to work 18 hours doing that you can. Or are you just anxious for the day to end. And so I think that as you kind of look into those sorts of things some of that can be can become obvious. And you know I go to this fairly late in life and I was a little bit lucky but at the end in nineteen ninety nine I'm part of a group called White People Young Presidents Organization which is a great group. And we were on a retreat. There I was 10 of us and we had these two industrial psychologists basically spend a few weeks. They did and they asked us to take a bunch of tests the 360 kind of analysis so they talk to us spouses or girlfriends if the kids were old enough to school two kids friends employees bosses they usually try to get a full view. They did a bunch of interviews for each person and then the end result of that was that they gave us all of what a 20 page write up which I think of it as my man. And unfortunately you don't hear a lot of us.
Well all of us are born with our little girl and and and all of us are wired differently. So in in my owner's manual they looked at you know the way I configured my life and they were able to tell what my natural strengths and biases and kind of passions were from all this data. And I was just about to start Pabrai Funds at that time and I was in the midst of exiting exiting from my I.T. company that I had started them that are close to 200 people. And they told me that you know they didn't even know how I was managing the I.T. company with all those people and all those reports because they said that's just not to you. And so so these guys the industrial psychology is what they said is that most of us between between our genetics and what happens to us in the first five years of my life. We have a certain hardcoded set of likes dislikes and kind of aptitudes and passions that are set in stone that are not going to change after the age of five. And you can think about it's kind of like you know this is your kind of you know map if you will. And what happens is the world and the world expects us to act a certain way. Yes. And the world doesn't see that. So the world might say this is how I expect you to act. And I don't really care what you are on the inside and so what happens to most humans is there's a misalignment and if there is a misalignment you will not go far enough.
So if you want to go far live what has to happen is things that come up like this and they are like this for people like Steve Jobs or Bill Gates or Mohammed Ali or you know any number of countries people in different fields. Is there internal wiring and what they're not doing externally are important for fraternity. Yes. And so some of these guys stumble into that and others who have read actions to get there. But it's it's not that hard to get there even without the help of these psychologists that can help is you know basically just as you're going through life just ask yourselves questions. I did that activity. How do they like that and that did this activity and I like this. What do I like and what who are like and how do I like to spend my days and how to spend my days. If I was concerned about money you know this what what to do on a day to day basis if I was concerned about putting food on the table if you were so why asking these types of question.