Watch the Video – Mohnish Pabrai

Here are some of my takeaways from this wonderful talk given by superinvestor (value investor) Mohnish Pabrai last month (October 2016) to a classroom in China. Every minute of it is worth watching – it is both highly instructional as well as funny at times, and provides clues for why most active managers underperform/fail or burn out.

Also see

Pabrai Funds Springs Back After Horsehead

Five categories of businesses value investors should look for:
1. Tailwind + idiots can run it
2. Tailwind but need good management to run it
3. Low risk + high uncertainty
4. Special situations
5. Upside without downside – play the bubble

Most important skill that value investors need to have = extreme patience

Other successful tricks and...