
29 segments available
Is copying Warren Buffett the fastest way to get rich? Mohnish Pabrai reveals the strategy to turn 1K into 10K in 30 days, quit your job safely, build passive income, and master the step-by-step formula millionaires actually use! Mohnish Pabrai is a renowned value investor and founder of Pabrai Funds, who is best known for his successful implementation of Warren Buffett's value investing principles. He is also the bestselling author of books such as, ‘The Dhandho Investor’, which guides people on low-risk, high-return investing. He explains: ⬛Why building passive income is simpler than you think ⬛How to build a business or portfolio with no risk ⬛Why copying ideas made Mohnish a millionaire ⬛How to find low-risk, high-reward investment opportunities ⬛Why 99% of people follow the wrong advice about money 00:00 Intro 02:14 Mental Models for Business and Investing 13:55 Never Start a Company for This Reason—It'll Fail 16:13 How to Focus Your Sales and Pitches 20:41 The Importance of Attention to Detail 26:27 Why the Low Engagement in 9–5 Jobs 34:31 How to Reach Financial Freedom 42:57 You Have to Reach Out to Thousands of Places 45:15 Signal vs. Noise Ratio 47:35 Ads 52:25 The 3 Categories All Humans Fall Into 56:22 How to Scale Your Company as a Solopreneur 59:12 Mastering the Art of Hiring 01:01:16 Hire Slow, Fire Fast 01:02:47 Do People Build More Wealth from Business or Investing? 01:05:59 The Magic of Compounding 01:10:57 How to Invest in Indexes 01:13:48 Ads 01:15:58 Why Do They Call You the Dhandho Investor? 01:17:33 The Patels' Framework to Take Over the U.S. Motel Industry 01:20:57 Heads I Win, Tails I Don’t Lose Much 01:21:54 What Is the New Opportunity in the AI Era? 01:26:21 Business Moats 01:27:33 Loyalty Points Models 01:29:41 Is Apple a Good Investment? 01:34:43 The Importance of Making Fewer Big and Infrequent Bets 01:37:22 Is Day Trading Worth It? Can You Make Money from It? 01:38:03 Circling the Wagons 01:40:50 Your Worst Ever Financial Decision Follow Mohnish: Instagram - https://bit.ly/4lCFFO6 YouTube - https://bit.ly/4fKRroh You can purchase Mohnish’s book, ‘The Dhandho Investor: The Low-Risk Value Method to High Returns’, here: https://amzn.to/4qAwn8l The Diary Of A CEO: ⬛Join DOAC circle here - https://doaccircle.com/ ⬛Buy The Diary Of A CEO book here - https://smarturl.it/DOACbook ⬛The 1% Diary is back - limited time only: https://bit.ly/3YFbJbt ⬛The Diary Of A CEO Conversation Cards (Second Edition): https://g2ul0.app.link/f31dsUttKKb ⬛Get email updates - https://bit.ly/diary-of-a-ceo-yt ⬛Follow Steven - https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Fiverr - https://www.fiverr.com/diary with code DIARY for 10% off your first order Netflix - http://netflix.com/title/81725526 KetoneIQ - Visit https://ketone.com/STEVEN for 30% off your subscription order
"Why do they call you the Dhandho Investor? It's a way of doing business and making money without taking risk. Like for example, Mr. Gates, Mr. Walton, Mr. Branson, all of these people followed these s..."
"Mohnish Pabrai, with the work that you do and the sort of public educating that you've done more recently in your career, what is the message you're trying to convey? If you had to summarize that mess..."
"said my spiel, went to slide 11. So, the boss who was sitting in the meeting said, "Go back to slide 10." So, I went back to slide 10, again gave my speech that I had for slide 10, and took it to 11. ..."
"of a conversation I had this morning. Okay. Where I interviewed someone because much of what you're saying is orientated towards startups, but it's actually every single day of everyone's life because..."
"into there was this idea of just like attention to detail. I'm not even sure if that's a model, but when you told me about the Walmart founders laying between the aisles to measure the exact centimete..."
"some numbers to this. 12% of people, according to the stats that are listening right now, are explicitly unsatisfied with their job, which means they hate it. 85% of workers globally are disengaged, m..."
"Much of what I do here when I'm having these conversations is I'm trying to put myself in the shoes of the person who is currently sat in a in a 9-5 job and they've they've got an idea and their idea ..."
"that's a really unappreciated framework, as you call it, or mental model, which is cuz you said you sent 200 letters. I So many times kids come up to me in the street and they say, "Look, I've been lo..."
"I was thinking about what you're saying um and I made a video the other day which I think is somewhat relevant where I was trying to describe to people how to send a message to someone in a way that c..."
"and if you're great at hiring, that edge should probably be your people, the A players you bring in. And I don't just mean your full-time team, but your freelance support, too. If you feel like your t..."
"Here's a philosophical way to think about that for just everybody, which is you can remember probably conversations you had in your life that you thought were totally inconsequential, but then 8 years..."
"Um, and she's at that point where she's trying to scale. In fact, I just meet so many I think I I actually ran a survey before. And the vast majority of business owners are in that SME category, that ..."
"One of my companies I'm building at the moment is called culturetest.com. It's exactly this. Okay. Um I mean, you're just like preaching preaching to the choir here. >> But, what I'm saying is that It..."
"How do you think about firing people? Cuz this is the other thing I've found is slow, fire fast. Founders really struggle with the fire fast thing. And uh it is very important to fire fast. I think fi..."
"When you think about your wealth, how much of it has come from building businesses versus being a great investor of the capital that you managed to make from those businesses? I think currently most h..."
"it will take 5 years. 72 / 15 is 5, approximately. And if I have a 20% return, it'll take 3 and 1/2 years. So, this rule of 72 is a nice hack and it's very important to know how long money takes to do..."
"and we don't really So, for someone who has never invested before Yeah. >> which would probably be the majority of the audience, how do we simplify even further in terms of just put it in an index? Wh..."
"absolutely fascinated by the psychology behind high-performing sports teams. I think it started with my love for Sir Alex Ferguson as a Manchester United fan. So, when I was told about a new Netflix s..."
"You've been referred to as the the Dhandho investor. And uh I've I've got a book here which you wrote called the Dhandho investor. What what What does this word Dhandho mean? And why do they call you ..."
"ethnic group in India. >> And so, this ethnic group came to Uganda to build the railroad. And but they're very savvy business people. And over the course of the last 100 odd years, uh when they were i..."
"Dhandho way that I need to be thinking about? Cuz I think there was Was there nine? Yeah, there was nine principles in total in the book. >> Well, the most important one is heads I win, tails I don't ..."
"Do you think there's an opportunity for people, cuz everybody's at the moment thinking about AI and technology and these like really advanced um new innovations as an opportunity, but does that create..."
"barber that moves into town C first and they're really having a great time because there's no competition. One of your points when you're talking about the Dandam method is this idea of creating a dur..."
"about loyalty points? I was just struck the other day when I was shopping in LA at Erewhon, which is a supermarket here in LA, and I had someone who'd recommended to me on the plane, which actually go..."
"What one company I wanted to talk to you about was Apple. Because Apple I find is a really interesting company. You You talked about being a copycat, kind of arriving later to the party with new thing..."
"experiment. So And you also talk about making fewer big infrequent bets. Yes. Who who's that relevant for and in what context? So one of the things that Warren Buffett says, he says that you got a pun..."
"What do you think about these people that day trade? Cuz so many young people, specifically men, are being sucked in by these adverts that you can day trade your way to wealth. It's not good. I think ..."
"One of the last things I want to speak to you about is this idea of um circling the wagons. Yes. What does circling the wagons mean? Warren Buffett um said that over um 50-year period of running Berks..."
"When I meet people like you, I I'm always so inspired because we spend a lot of time thinking about the wins, the great decisions. We've talked about that. I've shown you the graph of your great decis..."