You know, my degrees are in computer engineering. I spent a lot of time in the tech industry. And I like to say that I don’t invest in tech because I spent time in it. And I saw firsthand that the durability of technology moats is many times an oxymoron. Mohnish Pabrai Read Quote
We have to do what I would call anomalies: we have to look for strange things that show up once in a while. They don’t show up all the time. We have to be scanning the horizon, and doing that, once in a while something will show up that makes a lot of sense, and then you act on it. Mohnish Pabrai Read Quote
The good thing about getting wealthy is we don’t need to understand a lot of things! Mohnish Pabrai Read Quote
Industries with rapid change are the enemy of the investor. Tech businesses, particularly biotech, is a problem from that point of view. All industries work with change, but you should ideally be investing in businesses with a low rate of change, not a high rate of change. Mohnish Pabrai Read Quote
The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand. Mohnish Pabrai Read Quote
I think a lot of people are getting more serious about how to do the most good, but there is no road map. I’m hoping I can offer an example. Mohnish Pabrai Read Quote
You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting. Mohnish Pabrai Read Quote
The single biggest advantage a value investor has is not IQ. It’s patience and waiting. Waiting for the right pitch, and waiting for many years for the right pitch. Mohnish Pabrai Read Quote
I have a hard time getting past the day without the nap, so the nap is a must. Mohnish Pabrai Read Quote
