Mohnish Pabrai Quotes
Mistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.
You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting.
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.
The good news in investing is there are no HR problems. If there are no humans, there are no problems!
Entrepreneurs are great at dealing with uncertainty and also very good at minimizing risk. That's the classic great entrepreneur.
People see poverty all around them in India, but they are desensitized or immune to it. I came to the conclusion that poverty is driven by lack of education.
The problem most nonprofits have is that they are run by romantics who are great to hang out with, but they have no clue.
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.