The Importance of Learning From Others' Mistakes

Pabrai: "I'd raised about, I think about 4 million or so in capital for that and about 2.2 million of that was my own money" He says the investors who had put in money all saw it go to zero; he felt 'terrible' But a lot of success came to pabrai funds in the next several years if not for this mistake,. Pabrai's company is now worth more than $1 billion.

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IN THIS EPISODE, YOU’LL LEARN:

Why Mohnish Pabrai recently invested in Southwest Airlines.
What Mohnish Pabrai’s biggest investment mistake is, and how he later made more than $100 million because of it.
If Warren Buffett and Charlie Munger consider any macro decisions in their investment approach.
Why the airline industry is a terrible sector, but might still be a great investment at the moment.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Mohnish’s new website: Chai with Pabrai.
Mohnish’s Book, The Dhandho Investor – Read Reviews for this book.
Mohnish’s Youtube Channel.
Kevin Freiberg’s book, Nuts – Read reviews of this book.
Charlie Munger’s book, Poor Charlie’s Almanack – Read reviews of this book.
Sam Walton’s book, Made in America – Read reviews of this book.

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