Circle Of Competence Issue #19
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HIGHLIGHTED INVESTOR: MOHNISH PABRAI
This week, I wanted to share some resources on one of my favorite investors, Mohnish Pabrai. He graduated from Clemson University as an engineer and after working for several years in IT, he started his own IT company with some money from his IRA and $70,000 in credit card debt. He later sold this company for $20M in 2000. While running his own business, he began reading Buffett's partnership and shareholder letters, and after selling his IT business, opened up a partnership modeled after the Buffett Partnership. It has no management fees but includes a hurdle rate of 6% after which Pabrai Funds takes 33% of the profits. It perfectly aligns incentives - if the funds don't do well, neither does its manager. Over the past 18 years, Pabrai has compounded the funds' money at astounding rates and become very wealthy hence. Here are some of my favorite speeches, articles, and books from Mohnish Pabrai:
Books by Mohnish Pabrai:
Articles By Pabrai: