Chungst

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  • More Peeks Inside Portfolios: Berkowitz, Pabrai, Bob Rodriguez
    I read Mohnish Pabrai's book "The Dhandho Investor," where he talks about heads he wins big and tails he loses a little. However, in a recent interview with Smart Money magazine, his explanation about the fund's loss in Delta Financial clearly contradicts the investment style laid out in the book. Clearly, he didn't lose a little, he lost a lot.

    For Pabrai to piggyback off another investor calls into question his role as a PM. I know a lot of value investor-PMs (for example, just read some of the posts on Vestopia.com) look at what other value investor-PMs are doing, but such behavior is simply not acceptable because I could do the same piggy-backing myself without having to pay the huge investment management fees.

    Only time will tell if Pabrai has past his zenith similiar to Bill Miller of Legg Mason. The secret of Buffett's success is his "master mind" (a Napoleon Hill concept) relationship with Munger. Pabrai should find his "Munger."
    May 21 19:44 pm |Rating: 0 0 |Link to Comment |View article

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