The INDUStry Show with Mohnish Pabrai

[@cedricschneider8609]

thank you for this int. where are the list of books? did you forget or did i misanderstand ?

[@KP-pn9bh]

The first question you should ask fund manager - what is his performance? Pabrai's performance was good many years ago. It's gone. Index is doing much better than his funds. What does he think and where he invest have zero benefit for listener. He is just gambling with other people's money...

[@stevenalibaster1490]

Yes, I've seen his performance figures and since ~10 years ago, his record has been pretty horrible...

[@GabeDoesNotTalk]

While that may be true, it seems short-term biased. In the short-term cycles many value investors lag the market. You can even look at the top performing mutual funds, they lagged the market for a few years before beating it. Lately they might just track the market with how everyone has switched to index funds and the incentives for managers just to keep pace with the market. If you’re a value investor you’re waiting for the market to appreciate your ideas and that might take decades. Assuming you bought with enough of a margin of safety and understand how to value businesses you can afford to under perform for years in order to outperform over time.