In fact, in a number of conversations with Charlie Munger, he always brings that up and reminds people never to try to compete with the Patels in the motel business. Pabrai: The Patel story is a great one because it illustrates the concept really well. Could you tell that story, or if you prefer, give another illustration of what you meant with this concept. John Mihaljevic, MOI Global: The classic example that I think most know is the Patel story in the hospitality business as an illustration of what Dhandho means.
They recently came out with an edition in India, which sold very well ― vastly better than expected. It was a useful exercise for me, and I’m happy to get a nice check from Wiley every year. I found that the process of writing the book helped me formalize the principles inside. As they say, the best way to learn is to teach. Mohnish Pabrai: My objective in writing The Dhandho Investor was to crystalize some concepts in my own mind. All in all, a somewhat interesting read, but one that I am happy to put down in favour of a better financial investment book.The following transcript has been edited for space and clarity. A hopeful book for any new immigrants to the Americas, or those that want to find a clever way to generate income by pooling money together with other family members or friends. If you have very little knowledge of stocks I would probably stay away from it, since the author uses technical terminology that investors tend to use when discussing the Stock Market and trading. Recommend read for anyone that is interested in this investor, Mohnish Pabrai. I suppose the only benefit of reading this book is the reinforcement of Warren's ideas that it is important to find a sound company with a good manager, and then heap loads of cash into their stocks to eventually generate a large surplus of income in the future. However brilliant this idea is for the Patel's, it is not applicable to most citizens that were born and raised in North America. I have witnessed similar acts where I currently live, since newly immigrants from India live in a large house together, invest in a company/business and slowly reap profits that will benefit the future generations. The example of "Papa Patel" and family members of the same name pooling their money together to invest in the first hotel is a brilliant idea. Indeed, there is some original thought with special emphasis on Indians migrating from Uganda to America to slowly build profitable empires in the shapes of hotels across the country, but even still, it lacked a special quality that is often seen in other finance books by well known investors.Ī few takeaways from "The Dhandho Investor" is the importance of ingenious ways to build capitals. The goal of an investor is to hold onto these companies for a long time, and slowly reap the rewards.Ĭonsidering I have been binge watching a lot of Warren Buffet and Charlie Munger clips on YouTube, I found "The Dhandho Investor" to be unfortunately redundant. Consequently, Pabrai echoes these famous investors principles, which is to find great undervalued companies with little downside and huge upside. It is clear the author of "The Dhandho Investor" is a disciple of Warren Buffet, often quoting him and Charlie Munger throughout the book. After all, it has been listed in the top economic and finance books on Goodreads, so I thought it was worth a shot. I found an audio book of "The Dhandho Investor" online and thought I should give it a listen.
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