Indian - Businessman | June 12, 1964 -
I think a lot of people are getting more serious about how to do the most good, but there is no road map. I'm hoping I can offer an example.
Mohnish Pabrai
GoodPeopleRoadThinkI CanMap
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 wouldn't have even a fraction of my current success.
LoveSuccessGoodIdeasProudCopy
The problem most nonprofits have is that they are run by romantics who are great to hang out with, but they have no clue.
GreatProblemRunOutHangMost
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.
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One of the first things I tell people is, if you want to learn about investing, you want to open an account and make real investments because that's when it becomes real.
PeopleLearnYouWantFirstReal
To the extent societal rules or the wiring of your brains make it easy to acquire a lot of assets, then to the extent you can, you should try to improve the world.
WorldEasyYouRulesTryImprove
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.
BusinessYouCircleUnderstandWay
Before starting my own investment funds, the only models I was aware of were those of Warren Buffett and Charlie Munger. Their models made a lot of sense to me, so I cloned them.
MeInvestmentMy OwnStartingOwn
I used to not talk much to anyone about my investments.
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It is the performance of the business that matters. It is hard enough to figure out the future of the business. Do not try to figure out the future of the country or the world; focus on the business.
FutureBusinessFocusWorldEnough
We have to do what I would call anomalies: we have to look for strange things that show up once in a while. They don't show up all the time. We have to be scanning the horizon, and doing that, once in a while something will show up that makes a lot of sense, and then you act on it.
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The good thing about getting wealthy is we don't need to understand a lot of things!
GoodUnderstandNeedThingsAbout
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