Mohnish Pabrai Quotes

• You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting.

  Mohnish Pabrai

  Waiting, Making Money, Sells

  30 Copiar cita

• Mistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.

  Mohnish Pabrai

  Profesor, Error, Gente

  55 Copiar cita

• Heads I win, tails I don’t lose much.

  Mohnish Pabrai

  Winning, Tails, Loses

  Mohnish Pabrai (2011). “The Dhandho Investor: The Low-Risk Value Method to High Returns”, p.28, John Wiley & Sons

  17 Copiar cita

• Wall Street sometimes gets confused between risk and uncertainty, and you can profit handsomely from that confusion. The low-risk, high-uncertainty [situation] gives us our most sought after coin-toss odds. Heads, I win; tails, I don't lose much.

  Mohnish Pabrai

  Wall, Confused, Winning

  Mohnish Pabrai (2011). “The Dhandho Investor: The Low-Risk Value Method to High Returns”, p.108, John Wiley & Sons

  22 Copiar cita

• The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.

  Mohnish Pabrai

  Circles, Way, Should

  20 Copiar cita

• Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.

  Mohnish Pabrai

  Reality, Thinking, Lunch

  9 Copiar cita

• We Americans love original ideas. But truly, there are already plenty of good ones out there, ours for the taking. If I were too proud to copy the ideas of others, I likely wouldnt have even a fraction of my current success.

  Mohnish Pabrai

  Ideas, Proud, Fractions

  12 Copiar cita

• The good news in investing is there are no HR problems. If there are no humans, there are no problems!

  Mohnish Pabrai

  News, Investing, Problem

  13 Copiar cita

• Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.

  Mohnish Pabrai

  Differences, Years, People

  15 Copiar cita

• There is no such thing as a value trap. There are investing mistakes.

  Mohnish Pabrai

  Mistake, Investing, Traps

  10 Copiar cita

• Entrepreneurs are great at dealing with uncertainty and also very good at minimizing risk. That's the classic great entrepreneur.

  Mohnish Pabrai

  Entrepreneur, Risk, Classic

  11 Copiar cita

• I have a hard time getting past the day without the nap, so the nap is a must.

  Mohnish Pabrai

  Hard Times, Past, Naps

  9 Copiar cita

• People see poverty all around them in India, but they are desensitized or immune to it. I came to the conclusion that poverty is driven by lack of education.

  Mohnish Pabrai

  People, India, Poverty

  15 Copiar cita

• The problem most nonprofits have is that they are run by romantics who are great to hang out with, but they have no clue.

  Mohnish Pabrai

  Running, Nonprofits, Problem

  9 Copiar cita

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