They say good things come to those who wait and for the investors of Mohnish Pabrai’s and his Pabrai funds this is certainly the case.
Pabrai is considered to be one of the best value investors managing cash for investors today, and until 2015, his returns certainly confirmed this fact. Unfortunately, 2015 and 2016 turned out to be two of the most disastrous years in the history of the Pabrai funds.
Over the fiscal year July 1, 2015, to June 31, 2016, PIF2, the leading Pabrai fund, which has been in existence since June 2000, saw the value of its assets drop by 30% erasing several years of gains. Before the drop, PIF2 had turned $100,000 into $800,000 since inception,...
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