Mohnish Pabrai: India Is A Great Stock-Pickers Market

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Pabrai Investment Funds founder Mohnish Pabrai on the opportunities for investors in India. Mohnish says, “India is a great stock-pickers market.”

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Mohnish Pabrai: India Is A Great Stock-Pickers Market

Transcript

Amazon and Goldman Sachs may team up to buy a big grocery chain in India. Well our next guest has been investing in India and emerging markets for 20 years now and he's been successful. Joining us is monish papyri. Investment Funds Management. Welcome to the program. Good to see you. Great to be here Stuart. You think that India is the new next frontier.

Well I think India is a great stock-pickers market. There is there is plenty of growth but there's also plenty of inefficiency in the future prospects of businesses and how markets understand them. So once you get past the top hundred names I think if someone's willing to dig in one can do quite well.

Is that what you've done. I know that over a 20 year period you've had a very strong return for investors. I think it's you've generated a thousand percent but that's in a 20 year period. Okay but what kind of Indian stocks are you buying to get that result.

Well you know until maybe three or four years ago I hardly had any exposure to India mostly through most of that period I have invested mostly in the US. But I started finding it was difficult to find value in the US and I was finding that because of the growth of know high growth can lead to mispricing and they were they were they were a that were finding I was finding in India where when I just looked at their valuations versus their future prospects there was a big disconnect until I started to started to add sales company.

Let me get this straight. You've been in business for 20 years. You've got a nice nice return but for the last four years you've mostly put your money into American stocks and they've done you a lot of good. Yeah for the first 15 16 years. That's correct. Manesh thanks for joining us sir we appreciate it. We do believe that the Indian market is the next big one to open up and we'll follow your progress. Thanks for joining us. Richard.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver