Mohnish Pabrai’s Lecture, Q&A with students of Peking Univ. (Guanghua School of Mgmt.)-Dec. 3, 2020

[@BuonoBruttoCattivo77]

Sounds like it is time to write another book Mohnish

[@InvestingwithTom]

Always learn something from these talks!

[@FinancialFutureGuideAlexCourt]

You and me both mate

[@everest8129.]

Thank you for making a video @Investing with Tom have a good day

[@TheIcelandicInvestor]

A great way to start a Monday morning. Thanks for this Mohnish!

Just started listening to it, but I am sure this is going to be a great talk. I am excited about Pabrai 2.0.

[@Moviebom-om4uw]

Pobrai sir listening you same as learning with joy

[@krishnakrishna417]

I don’t feel like i was listening for 2 hours really enjoyed thanks 🙏. 2020 is the best year for me too I know about Mohnish in 2020. I watched all videos in 2020 learned a lot. Thank you for sharing all these in youtube love you ❤️

[@vssprakashchilamkuri2348]

China and India should take this sort of goodwill to see the progress of both the nations instead of engaging in unnecessary issues. Hope, people realise.

[@qaisurrehman]

49:09:As is your wish so is your will as is your will so is your desire and as is your desire so is your deed, your deepest desire is your destiny

[@investingiq]

I really like your explanation of the concept of Apex spawners Mr Pabrai. There definitely needed to be a new term used to describe these types of mothership companies that have many ships in their fleet. Really enjoy these lectures. Thank you for putting it up for us :)

[@henriquetraeselengelmann9419]

That's definetely a lecture worth watching every few months...

[@MANemati]

Thank you, Monish, for your invaluable guidance on my journey. I truly appreciate the knowledge you've shared

[@Steve-pw7xm]

Monish is one of the great minds of value investing....a lot of people get compared to Buffett, but from a style and competence perspective, I actually think Monish is going to take the reigns from Buffett once Buffett dies. Not Ackman, not Chamath, not Cathie Wood, not Druckenmiller....but Monish. Not necessarily from a fund size perspective, but in terms of value-added thinking about investment in modern markets. Wish I could chat with him for an hour on the phone.

[@Sankarnm]

I agree and think Li Lu is there too. Very limited information on Li Lu in the public domain though

[@DavidMM255]

Agree with both you guys, everytime I heard a talk of Mohnish it really blows my mind with new ideas and concepts. You can also feel with Li Lu that he is really gifted, goes to the point and is willing to work hard on it. There's a talk of him to Columbia university students that's really unvaluable. Druckenmiller and Ackman are extremely good investors as well. Only time will say who will make the best investment returns.

[@naeemf6019]

Druckenmiller already retired He had adapted soros's macro strategy not value investing

[@tuabenjamin]

@@DavidMM255 Agreed. Pretty sure Mohnish didn’t lose $600M in 3 months w/ Netflix. Then again, pretty sure that’s a drop in the bucket for the likes of Ackman’s firm. Would be nice to be able to lose that much lol.

[@dhariwalnaturals]

I want to thank you Mohnish ji from the core of my heart for giving us such a great insights and making us more smarter. I am always eagerly waiting for the next one.

[@Akash-vx9wl]

he is my role model not because of his investment style but just the personality he is

[@kathrin9674]

Greetings from Germany. That was highly educative, thank you!

[@abhishek1shakya691]

We gain lots of knowledge from your books like mosaic and The dhandho Invester ....... thanks Mohnish

[@tinytales.productions]

You should also try "My money Universe" youtube channel from india

[@Neil.Denize]

Saving this one for later, loving these latest videos from Mohnish.

[@benjaminb4056]

Thank you so much for sharing. Had never really considered spawning ability of the companies i invest in, but i will now. Thanks again.

[@alexinvests]

I love these lectures/interviews! Clone! Clone! Clone! 😂

[@arthurvandenbroeck2095]

This is absolutely fantastic, Pabrai 2.0 might just be Gandalf The White. Thank you, I appreciate it a lot!

[@bombombecker5222]

Listened to all cant get enough Pabrai! New lifegoal is make enough monay to have lunch with him! A true gentleman

[@ankay9]

It always enhances your knowledge when you listen to Mr. Pabrai 🙏🙏🙏

[@ConvergenceTrader]

Love from Bihar, India 💛

[@stevenhowsley4876]

Incredible talk!! Very well organized and I’m excited to see this new framework unfold.

[@G1Martins]

I've listened to this talk about 3 times. It's really good stuff

[@YAPSS]

What a great talk! Let's hunt for spawners :)

[@saroshpadikkal2362]

These students are very smart and ask very good questions.

[@Maverick_investors]

This is one of best lecture and q&a session of Pabrai.

[@alm9368]

A great lecture, well worth studying again and again (so I'll do with much attention). Thanks a lot for uploading, Mr. Pabrai.

[@guharup]

This framework is yet to evolve. Its promising but too many unanswered questions. Many spawners were not so at early stages. Because to spawn you possibly need free cash flow and you dont have that until your original business is successful. And how would you differentiate successful spawners from bad capital allocators at early stages? Gosh thats such a good question I am forced to like my own comment.

[@jonnybinder]

Very well said. His examples of Alphabet and Amazon wouldn't be easy to spot early enough to make them as profitable of an investment. They didn't start spawning until later in their development.

[@msykutera]

I agree. I think Monish probably is making error of looking at history of companies who went 100x and tries to find companies that have same traits. But there were probably hundreds of companies which share those traits that weren't succesful.

[@achillemonnet3972]

If you can’t answer that point about a company, you move on - that is the answer

[@achillemonnet3972]

If you can’t answer that point about a company, you move on - that is the answer

[@davidprebble3167]

"Elon could make a very large bet on something unproven" reminds me of a certain bitcoin purchase.

[@fabianriegel6762]

or the purchase of solar city?

[@l4k]

The World Would Be A Much Worse Place Without Elon

[@MohnishPab]

The world would be a much better place without someone who pumps and dumps low liquidy financial instruments for fun on Twitter. Musk is a charlatan and does not belong even remotely close to Bezos and co.

[@nickslemonadestand7084]

Their Bitcoin purchase was less than 10% of their cash at the time (much less now.) It was about 0.15% of their market cap. Not exactly a "large bet." That pretty small bet is up roughly 40% since then and Tesla's debt has gone down What are Tesla spawns? Battery storage / auto bidder Insurance App store Solar Self driving /robo taxi AI /bots Keep sleeping on it

[@BradKaellner]

Pabrai is spawning a global army of shameless cloners 🙋‍♂️

[@shreyas3517]

Hey Brad, as always I think we can hear your version of this talk in your channel

[@BradKaellner]

@@shreyas3517 coming soon 💯

[@gauravkaushik04]

Thanks for inspiring us Brad. Your videos are equally informative.

[@RudraSharmaCA]

Some interesting things I spotted for your recap video Brad: 1) this video was sponsored by himalaya capital, not sure what they sponsored/what the cost was here. 2) he seems to hint that srg was not a long term compounder play.

[@BradKaellner]

@@gauravkaushik04 Cheers Gaurav 🤙

[@maheshchander2415]

A great lecture as always. Thanks for the same Mr Mohnish.

[@cityhunter2006]

Thank you Mohnish, great talk!

[@MasterChiefSpartan]

Please write another book, professor pabrai

[@ralfzbikowski4561]

thank you from Germany

[@augustomelgar7502]

Great Lesson Monish. Very insightful.

[@timidigifa5421]

Pure gold

[@Xyz19781i]

incredible slides, especially the classification of companies.

[@Xyz19781i]

just wanted to repeat the above. He distilled a lot of information in simpler forms / mental models. This was one of the best lectures ever.

[@clintonrezeki4243]

Amazing framework. Thanks for sharing, Mohnish

[@shubhamagrawal2707]

"Chamath is going to do really well" : Mohnish Pabrai, 2021'

[@WISERandHAPPIER]

All G glasses so cool !!!

[@lawaynehearn2158]

Great lecture!

[@Ash-pv5db]

Thanks for the guidance Monish.

[@BradKaellner]

Google went public at $23 billion, so it’s a pass 😉

[@stevenhowsley4876]

Ha! Interesting point.

[@BradKaellner]

@@palestineViper true, that would be a silly objective

[@naeemf6019]

The thing is you can't generalize any framework... imagining turning down amazon because it wasn't profitable

[@jonnybinder]

True, this framework needs more thought and I believe it may be flawed

[@naeemf6019]

In The past few decades there has been tremendous change in characteristics of businesses and business models and that is why there'll be exceptions to every framework

[@robinwagstaff7807]

Monish is referencing information that has been around for a while, a very old book written by Phil Fisher, Uncommon stocks, Uncommon Profits.

[@rajeevgupta2869]

Thanks mohnish for sharing your wisdom

[@glmccready]

My big spawn was Qualcomm.. Had truck tracking, with satellites, used by large local chicken boniness. .Cash flow positive CDMA was the ticket, 1900%. AMT killed me when I sold most of it in 1999, and 2000. Bought bonds, banks. Bought Apple in 2001, after my kid came home with an iPod.

[@davindermaan6468]

please any guess for future

[@ujjwalkumar-we7tl]

I see Reliance industries fit apex spwaners framework very well.

[@soniasingh5818]

Love the content. Also the music at the beginning is enchanting

[@LearningWithAnishSrinivas]

Priceless.

[@AverageAngel]

here we go!

[@khizarqureshi8840]

Wonderful talk !

[@chemiophsy007]

Excellent breakdown how to invest lika a pro

[@darshanjain8458]

conservative in spawning in early stage. Small bet in mothership in early days. When they are small they focus on one thing if they are spawning then they are keeper.

[@ak-qp6is]

I need not to lose my focous to understand it although he talk is very nice

[@veritasimmigration]

Really great talk. Just got a little delusional just before 50 min. The book Rethinking Positive Thinking: Inside the New Science of Motivation of author Gabriele Oettingen, professor of psychology at New York University enlights us with great depth regarding that.

[@Hemant-RK]

Great teacher

[@lexalexander9334]

Thanks Mohnish!

[@abhishek1shakya691]

Please write a more book

[@binoybhatt]

amazing

[@shreyas3517]

So basically u want to invest in companies which does a lot of option trading. What I mean by option trading is that, when u go for a option trade u always have a very limited amount which u will loose and and unlimited changes of gain.

[@MonsieurDee]

Forgot to ask.. Does this mean you changed your view on mastercard VS suntek 😅. Thanks for the lessons.

[@rajneeshmishra551]

How to know that where to invest in stock market

[@amith2947]

which are those 4 company's that are sponners? any clue?

[@ArcaneBear]

Monish, How can I get you on our podcast?

[@ayush-sn9kz]

Nature calls for one more book mohnish, write it please

[@mangalpal8921]

apple is also spawner....new products

[@umbbaku8678]

Can someone tell the time stamp for Edelweiss?

[@chawsuma1828]

i dont quite understand why capitalisam is brual?

[@dotproductions007]

I want to send something, but I need to build a position as my funds trickle in monthly. Pabrai money would eliminate the deal quick!

[@rithikpandey999]

What about aditya birla fashion and retail???

[@hermannnovakovic9507]

Isnt Restaurant Brands also a Spawner?

[@rithikpandey999]

What about motherson sumi and abfrl??

[@dhruvapandey17]

ITC is great spawner ...

[@aryanverma834]

Mr pabrai I also want to read Nicholas sleep's letter where can I access them?

[@hrishikeshjadhav1841]

Just Google 'Nick Sleep Letters' and the first link would help you find the PDF of the letters

[@BasantKumar-ju7hh]

Sir humlog dakshana ma nahi padshkta hai

[@qaisurrehman]

1:34:28 : Listening to your....?

[@manimani-xk4ok]

Please comment spawners

[@biohimanshu]

Is there any in india also

[@hardikprajapati8080]

Yes Himanshu ji

[@biohimanshu]

@@hardikprajapati8080 grt can you share few examples please

[@pipebliss]

Microsoft bought LinkedIn

[@guharup]

please stop talking of pies. i am already overweight from lockdown

[@goobtron]

Wait until you realize Bitcoin is the greatest spawner in the history of Earth. Skate to where the engineers are going.

[@georgesotiriou7051]

That Nick Sleep character reminds me of Munger. What does he really own? Berkshire, Costco and a part of Li Lu's fund.

[@guharup]

he doesnt own amazon anymore?

[@KubazTKDLBL]

@@guharup i think Munger never had amazon.

[@guharup]

Ah I was thinking of Nick, got it

[@vks7609]

Spawning is basically companies changing business structure by going into adjacent/different verticals. This is Opposite of The Dhandho Tenet-- BUY SIMPLE BUSINESSES IN INDUSTRIES WITH AN ULTRA-SLOW RATE OF CHANGE.

[@nrehberg]

I agree with his premise that if you spot a spawner early, before 500MM you can make a lot of money, but AMZN, Google, and BABA were not spawners until they were multi billion dollar companies right? First they became dominant in one industry, then they branched out. His new spawners, are not dominant, that is why they are small market cap companies, if they ignore their main business to spawn other things, it seems more distracting to the company.

[@sathyapranesh788]

thankyou for this wonderful vedio mohnish

[@forrestgump624]

I think the 5 billion limit is too strict. I think 30 billion is also ok with all this money printing nowadays

[@servitafernandes3133]

Indian company ITC is a great Spawner company

[@siddeshchaudhari6500]

Very eye opening session sir 🔥🔥

[@FearfullyGreedyInvesting]

*So grateful for this!* Thank you!

[@kiranvrao9714]

Thank you

[@silentinvestor3464]

Truly evolutionary content for Value investors. Change truly is constant but with core attributes.

[@shreyaslahoti7542]

Every time we get to learn a lot and something new. Thank you Mohnish. 😊

[@RDd188]

How many watching this will be a Great Investor?

[@nikunj150188]

New learnings for 2021!!! Thank you

[@StudyHelpForAll]

Gold

[@ims7865]

Omg! So much wisdom