Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - October 8, 2020 Chai with Pabrai

Distinguished Speaker Series
Applied Fundamental Analysis & Worldly Value investing
Professor Arvind Navaratnam
(00:00:00) - Introduction
(00:01:13) - Bull! A history of boom and bust, 1982-2004
(00:01:32) - The Dow (1896-2020)
(00:10:39) - NASDAQ (1971-2020)
(00:13:23) - Nikkei (1970-2020)
(00:14:30) - Kospi (1980-2020)
(00:15:35) - “Old too soon, wise too late”- Charlie Munger
(00:17:45) - NVR business
(00:19:12) - Nick Sleep
(00:22:50) - Extreme undervaluation to extreme overvaluation
(00:23:42) - Great compounder or great carnival
(00:25:54) - Investing failures
(00:26:44) - Valueing a company
(00:32:00) - Retails
(00:40:42) - Where to start?
(00:46:41) - Managing portfolio during pandemic
(00:50:09) - Value investing is not dead
(00:51:07) - Optionality in a business
(00:55:08) - Long runway
(00:57:30) - Identifying moats
(01:00:48) - Opportunity cost
(01:05:00) - Shameless Cloning
(01:09:02) - Pre-investment checklist
(01:11:48) - Investment in IPSCO and Turkey
(01:15:57) - Kelly formula
(01:19:41) - Quality of management team
(01:22:29) - Advise for students