Author Topic: Mohnish Pabrai blog  (Read 63970 times)

augustabound

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Mohnish Pabrai blog
« on: October 30, 2016, 03:20:03 AM »
For anyone interested Mohnish Pabrai has a new blog and Twitter.
http://www.know72.com/blog
https://twitter.com/MohnishPabrai
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tombgrt

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Re: Mohnish Pabrai blog
« Reply #1 on: October 30, 2016, 06:55:57 AM »
Guess he needs new clients.

DooDiligence

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Re: Mohnish Pabrai blog
« Reply #2 on: October 30, 2016, 07:39:31 AM »
Guess he needs new clients.

I guess Fiat & Horsehead didn't turn out so well for him (or rather his investors which is your point I guess.)

That 2 & 20 is a real sweet deal (am I speaking out of turn or is a good chunk of what he does basically coattailing nearly every hedge fund out there?)
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augustabound

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Re: Mohnish Pabrai blog
« Reply #3 on: October 30, 2016, 08:01:25 AM »
Guess he needs new clients.

That was my first thought when I saw it.  ;D
"Serenity now, insanity later." - Lloyd Braun

cubsfan

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Re: Mohnish Pabrai blog
« Reply #4 on: October 30, 2016, 08:29:35 AM »
I thought his fund was still closed to new investors?

Travis Wiedower

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Re: Mohnish Pabrai blog
« Reply #5 on: October 30, 2016, 08:43:11 AM »
That 2 & 20 is a real sweet deal (am I speaking out of turn or is a good chunk of what he does basically coattailing nearly every hedge fund out there?)

Maybe I'm misremembering, but I thought his structure was 0/6/25 or something similar? I was under the impression he hasn't made any money in quite a few years because 08/09 ruined his high water mark (which is a good example of how high water marks can unfairly screw managers, but I digress).
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cubsfan

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Re: Mohnish Pabrai blog
« Reply #6 on: October 30, 2016, 08:43:32 AM »
Guess he needs new clients.

I guess Fiat & Horsehead didn't turn out so well for him (or rather his investors which is your point I guess.)

That 2 & 20 is a real sweet deal (am I speaking out of turn or is a good chunk of what he does basically coattailing nearly every hedge fund out there?)

Pabrai doesn't charge 2 and 20. He makes money when his investors make money. Up to the first 6%, there is no charge - then he takes 25% over 6%. He's talked about using Buffett's early model. I do not think this has changed at all. Sounds pretty investor friendly, when you put your money where your mouth is.

valcont

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Re: Mohnish Pabrai blog
« Reply #7 on: October 30, 2016, 08:48:22 AM »
I never understood his appeal. He talks a good game but most of these are parables that gives me no framework to think about his strategy other than him being a master cloner. A good fund manager is typically a great marketer and I think he appeals to people with money who absolutely had no desire to learn investing like Silicon valley types. They can understand his simple message.

 In one of his lectures, he talked about how any one can be a great investor by spending an hour or two every week. I find that message very troubling. It makes him sound like a genius since he is doing it but others who follow are guaranteed to fail.

He is a very generous person and someone you want to be friends with. People would invest with him the same way they typically choose their leader.

cubsfan

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Re: Mohnish Pabrai blog
« Reply #8 on: October 30, 2016, 08:56:14 AM »
Much of his appeal has to do with his great LT record. As I remember, he runs 3 funds. 2 of them have been around
for 15+ years and have absolutely crushed the indexes (after fees). The 3rd one has lagged by a small amount.
So his fund have been volatile, but if you stayed invested you did very, very well. How many mangers can you say that about?

Cloning or whatever - something is working long term.

indirect

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Re: Mohnish Pabrai blog
« Reply #9 on: October 30, 2016, 09:47:41 AM »
That 2 & 20 is a real sweet deal (am I speaking out of turn or is a good chunk of what he does basically coattailing nearly every hedge fund out there?)

Maybe I'm misremembering, but I thought his structure was 0/6/25 or something similar? I was under the impression he hasn't made any money in quite a few years because 08/09 ruined his high water mark (which is a good example of how high water marks can unfairly screw managers, but I digress).

The structure is 0/6/25 with high water mark that accrues at 6% so he has made minimal money since 08/09 and still may not make for couple of more years.