"I am a better investor because I am a businessman, and a better businessman because I am no investor" - Warren Buffett
In the past, the value investor Mohnish Pabrai has spoken about why investors need to have some first-hand business experience.
Pabrai started his own IT consulting and systems integration company, TransTech, Inc, in 1991 using funds from his 401(k) account and credit card debt. The business was a great success, and he sold it a decade later for $20 million.
The funds helped the investor start his investment firm, Pabrai Investments, which he runs to this day.
Q3 2022 hedge fund letters, conferences and more
Pabrai's business not only helped him...
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