Over the past decade, value investor Mohnish Pabrai has shifted a large chunk of his portfolio into international equities and out of the US equity market.
Pabrai's firm, Pabrai Funds, has a fantastic track record thanks to the value investor's skill at picking undervalued equities. As Pabrai's friend and mentor, Charlie Munger, is fond of saying, investors should "fish where the fish are." To put it another way, investors should look elsewhere if they can't find attractive opportunities in their home market.
Fishing in Turkey
A key area of focus for Pabrai has been Turkey. The value investor has been increasing his exposure to the region to take advantage of the incredibly depressed valuations of high-quality businesses.
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