Mohnish Pabrai's latest thoughts on Big Tech, Turkey, Coal, and a tribute to Charlie Munger

In this engaging conversation, seasoned investor Mohnish Pabrai shares his insights and experiences on various stock market trends and strategies. He reflects on investments in Meta ($META), the recent developments in the #technology industry, potential impacts of the upcoming U.S. presidential election, and anecdotes about the late #charliemunger . He also goes into detail about his research on the sectors like energy and real estate and his strong holdings in #turkey . Additionally, Mohnish gives his views on monetary policy issues and the fiscal situation in the U.S. Join us for an enlightening dialogue, packed with valuable takeaways for any investment enthusiast or financial market follower.
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#valueinvesting #smallcap #midcapstocks #specialsituations
00:06 Introduction and Catching Up
00:12 Discussing Meta's Performance and Cost-Cutting Measures
03:37 Comparing Tech Giants: Google, Amazon, and Microsoft
08:09 The Future of AI and the Tech Industry
15:03 Investment Strategies and Insights
24:42 Deep Dive into the Coal Industry
32:47 Investment Opportunities in the Auto Dealership Industry
34:23 The Impact of Electric Cars on Dealerships
35:31 The Future of Auto Dealerships
37:53 The Potential of Large Car Dealerships
38:12 The State of the Auto Industry
39:09 The Future of Auto OEMs
39:26 The Challenges Facing Traditional Auto Manufacturers
41:37 The Wagon Fund and Its Purpose
42:41 Investing in Turkey and Its Potential
46:17 The State of the US Real Estate Industry
50:05 The Impact of the Presidential Election on Investments
54:06 The Legacy of Charlie Munger
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[@theinvestorstrategist]

It's a KZbin inverse ratio. The less views, the more valuable. 😅

For real, central tendency is a thing, you won't do well where the crowd are

[@varunjain5789]

This is absolutely fabulous...have to make notes from these !!

[@sakacocox267]

Excellent questions covering large grounds. Mohnish as always broad and simple explanations.

[@AlessandroOrlandi83]

Really good conversation!

[@bladej7688]

So far energy sources have only been added throughout human history. None have been removed. Even wood burning is still used to generate energy in some countries.

[@andypicken7848]

In the UK Drax are burnind wood pellets in power stations

[@justinbeghly1435]

You guys got to get the sound right

[@shakeelabdal-karim6488]

This conversation is worth $1,000,000.

[@nonexistent5030]

Dang I just traded an option on it for an intrinsic value of 500k. I'm so foolish.

[@philkeh]

What Monish says about coal power shows that he clearly does not understand much about externalities in macro economic systems. He claims that it is "irrational" to phase out coal power because it has served civilisation well in the past and therefore should be expanded. This is a very foolish argument. Coal power is by far the most pollutive power source and just because it served the western world's welfare well 50 years ago when world population was half of today with much lower per capita power consumption, it does not tell us anything about the question how we should satisfy worlds massive energy demand in the future. Scientific facts tell us that an ever increasing coal power genertaion will harm the natural system massively and therefore the economic costs will likely be a multiple of the economic benefits. That is why China and western countries are phasing out coal power gradually. He also seem to have not much knowledge about base load management. Does not even mention natural gas that has 50% lower emissions per kWh than coal, is widely avaialble and can even serve for peak load supply as well, which coal cannot and becomes more and more important in todays energy systems. Please, Monish, you are a great investor but dont talk about things you have never really put effort in to study them. If you would understand a little bit about the science of planetary boundaries you would not come to the conclusions about coal power that you state here because your argument is compeletely irrational, both from a macro economic perspective as well as from a technology perspective. Stay in your circle of competence! That principle should ideally go beyond questions related to stock market investing. Which I consider a rather simple science compared to natural science and engineering.

[@maxx0531]

Please read on the difference between met coal and thermal coal

[@philkeh]

@@maxx0531 Maybe you should listen to the video first. He explicitly mentions thermal coal, and refers to solar and wind power. Have you actually watched it?

[@maxx0531]

@@philkeh maybe YOU should rewatch the video... 29:07 he acknowledges that coal is a "sunset industry" and that the world is turning away from coal fired power plants. He thinks that coal has a lot of uses outside the power industry, like in the production of cement or in the making of iron and steel, that the market does not appreciate and that it will continue to be a needed resource. What you wrote above mainly concerns thermal coal in which he is not invested. His investments are in companies that produce bituminous and met coal, not thermal.

[@chrisdunnam1527]

China phasing out coal? lol. Aren’t they opening 1 new coal fired power plant every 2 weeks? Only in the West do we spread such nonsense!