Mohnish Pabrai Lecture at Boston College
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- Опубликовано: 31 май 2024
- Distinguished Speaker Series | Professor Arvind Navaratnam | October 14, 2021.
00:00:00 Introduction
00:01:55 Competition is For Losers, Peter Thiel
00:08:17 Rain Industries
00:12:30 Monopolistic business models, Amazon and Google
00:17:05 Redoing the Spaghetti code, AWS in business
00:19:00 A Whale only gets harpooned only when it surfaces, Warren Buffett
00:19:52 AWS, cloning by Microsoft and Google
00:24:08 Monopolistic characteristics of giant Chinese tech companies
00:28:10 Tencent (under)reporting style
00:30:15 Naspers business model, Koos Bekker
00:40:50 Better capital allocation by Amazon and Tencent
00:43:30 Tencent business model
00:50:15 The bazooka Model of Pony Ma
00:57:25 How I became a value investor
01:02:17 Chinese tech giants and political risk
01:03:17 Dakshana Foundation’s Education Model
01:08:53 Evolution of my investing style
01:12:50 Mohnish’s investing framework on start-ups
01:17:22 Ali Baba
01:23:12 Competence and edge
01:24:45 Change in Investment strategy due to Covid
01:37:44 Application of NLP(Natural Language Processing) in investing
01:45:03 Up and comers in the investment sector
01:47:37 Quality of Management
01:50:25 Book recommendations
The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.
Monish, you are such a wonderful teacher. The time spent listening to you is always well invested. Thank you so much.
I just enjoy listening to him, so casually he could say such important management concept with a live example.
OUt of all the people online hes the only one that makes sense. Everyone else I listened to are complete idiots. Most people in the world ignore common sense for some reason. Maybe cause it seems to dull and boring to think on that kind of a level but it is the basic root to being successful
Been waiting for ages!! Always a pleasure listening to you. Thanks for the upload!! 😍
Did you go through Dakshana?
@@BradKaellner No.
I've been checking his channel almost daily 😄
@@yalnaabi I feel you. I also thought RUclips Notifications are broken.
What a sales man this guy is
As a man that is trying to grow a Moustache at the moment for Movember, I look up to you both on the investing front and also your Moustache, that is one impressive Mo you are repping, love your work Mohnish.
Glad you are back we missed hearing from you the last couple of months.
This Legend comes after a couple of months and just drops an absolute banger of Information!!! How can you not love this guy!!!
Mohnish is back in the house!
Add to the checklist: does it have bazooka like qualities?
@@compound7269 haha maybe!
Tom in the house. Wow cool 😎
Always a pleasure listening to him and I am always learning something too! Thank you Indian guy in blue somewhere in Southern Cali from a nobody in Singapore
30 minutes in and I already know I'm going to watch till the end. Great video
Thank you for your generosity in sharing your insights into Tencent! So eye opening!
I love to hear you Mohnish sir, Thank you for sharing.
In 57 minutes I just got an executive MBA on speed dial. Thanks 👍
Been waiting since months. Much appreciated 🙏
Thank you Mr. Pabrai for uploading such wonderful videos! These are as fun to watch as the Berkshire Annual Shareholders meeting!
I can leave anything any day to listen to these lectures..
I really enjoy listening to these talks while on my daily morning walks.
A great class, Mr. Pabrai. Thank you for sharing!
I'm feeling good now, waiting for this for a long time.
Thought of listening for just 10 min and then listen other part later on ..but eventually watched completely.....cant skip the learnings and the wisdom that mohnish gives....Mohnish is then ,now forever my guru....
thank you mohnish ...expecially the model of tencent is simply awesome....
Thank you for taking the time and adding chapters to this video!
Great ! Thanks for sharing your wisdom
Appreciate you deeply Monish! Thank you so so much for all of your insight!
I think I rewatched almost all of your videoy 2-3times
Mohnish this is an incredible gift. Thank you for all you do and for sharing such wisdom openly
Mohnish, you are a beast. Thank you for everything.
amazing lecture, many thanks Mohnish
One of the best talks yet, and very intelligent questions from students as well.
Simply Amazing!!
Thank you Mohnishji for sharing such incredible insights, you will have an audience if you talk all day! Love the fact that you talk about something new and profound in each and every video! Long live Pabrai University!
What a great Video! Thanks for your work and the Insights on your thinking process. You're really an inspiration.
Mohnish is back! My morning is now booked. Happy Diwali Mohnish!
Huge Pabrai! Both as an investor and also as a mentor to younger value investors. Great video
Always inspiring to listen Monish’s speech
Mohnish Thank you for the wonderful lesson. This not only describes how to find wonderful businesses this for me describes a lot of human behavior. One of my favourite videos of all time!!
great speech. thank you.
Phil Town and Mohnish Pabrai uploaded new videos today. I know what I am watching the rest of today 👍
And I know whose video I'll watch next. :-)
I was so delighted to see your video on the auspicious occasion of Diwali….
I have watched every single video of yours on your channel… which in turn lead me to the path of investing myself….
I always learn something new from your video or some good book recommendations…..
Thanks for your efforts to educate people.
Best wishes of Diwali to you and your family….🇮🇳🇮🇳🇺🇸🇺🇸
Great lecture. I very much appreciate your ability Mohnish to openly share your passion, your diligence in your research and your ability to simplify complex things. I want those things for myself and hope to be able to share my perspective like you do and help others.
Great questions. Loved the first one especially
Great analysis! Thank you for making it public!
Thank you very much for sharing this content!
Man. I am in heaven since morning..🙌🙌❤️
Happy Diwali sir, really blessed to listen to you speak, the questions from the class were great too
Thank you Sir for sharing such educational insights !
Yessss, finallly. i needed some wisdom, after my recent blunders in the stock market
Thank you Mohnish
What a talk so many insights..
Nice a 2h Version! Thanks Monish
These videos teach you a lot which you wound not get from a finance degree
A diwali gift from #DhandoDevil
Thanks Mohnish
ANOTHER AMAZING VIDEO WANT MORE
Wow... Guru ji you are Great
Very informative!!! Thanks mohnish
learned so much from you and its fun at the same time. Investing has been really a great journey that I started in my life.
Thank you!!
Thanks, Monish
This is what i was trying to identify about tencent for around 2 months, reading 5 annual report and all presentation. I was always suprised about tencent number and even doubted to be fake because they dont say anything.
Very Insightful as always 👍📈
Yeah you are back Sir
Wonderful wisdom and insights as always, Mohnish. Regarding Starbucks, they actually did have some strong competition easily in from Tullies and Seattle’s Best but Starbucks had such a head start and consumer following that they couldn’t maintain. Pete’s coffee chain was actually a big influence on Howard creating Starbucks so he was part innovator and part cloner. I remember my parents taking me to the first Starbucks when visiting Seattle. My mom had read about it somewhere and Howard was making and selling the coffee himself still at that point
Wow, just wow.
A good interview … good content 👍🏻
Thankyou Mohnish
Amazing guy!!
Charan sparsh sir
Mohnish always brings the goods. Plenty to think about and look into. Also Qais Zakaria is an enigma.
Monish you are such a beautiful story teller. Always learn something new by watching your videos. Been slowly going on each of them for a while. thank you for posting. Monish can you like do a live interaction with your YouToube followers.
Enjoyed it Mohnish
Thank you so much Monish you’re awesome, and that girl that asked about Alibaba has something special for sure
brilliant.
Blessings to hear the game.. the question is Tencent Hong Kong Stock or Prosus Stock
"You cannot harpoon a whale that does not surface " Buffett on Ajit Jain
Who you are does not change much beyond age 5!
Edge is not from quick access to lots of data but from connecting the dots from the data
happy Dhanteras Mohnish, I am half way through the video and can't hold myself commenting that you made my Dhanteras. Thank you so much for putting all your work in front of us, I hope you wouldn't clone the Pony Ma model of burying deep.
Couldn’t catch the names of the 3 books mentioned at the end? Anyone did?
Happy Diwali Sir
Thank you Monish. Lets check back in 10 years I hope to be the African Version of you.
As a Tencent shareholder, the middle of this video got me more excited than an adult movie :D
exactly. tho i am not a tencent shareholder, mohnish did a great job convincing me by explaining the business model. i mean 65 percent and 35 percent annualised returns whoaaa
what is this value investors club he's talking about? is that a forum?
Anyone knows the next guest list about the Boston College Lectures?
Is this 5 percent topline and bottom line video game revenue from China number correct? Can't find this anywhere on the internet
Nice
Arvind you should clone pabrai by now,Its great watching pabrai and you together
❤❤
"[Pony Ma] just wants to be buried deep somewhere, executing his model." Dark.
Mohnish is pumped up . Blue Kurta blue annual reports
The GOAT is back
Tencent is Chinese Berkshire, low key management, great business culture.
Finally 😅
finally
Big takeaway: Great businesses don't want the rest of the world to know how great they are, so you won't get the big insights from management. What great investors own it? What have they been able to uncover?
Cannot wait for your video.
Any chance that you or the punchcard team could get an interview with Mohnish?
@@thewarrenbuffettspreadsheet there is a chance, but I’m not the odds-maker
Love your content, Brad !
Daje Monish arcamadana!
I can not stop laughing when he said Digital warren buffett! hahaa
Domestic game revenue represents more than 20%, not less than 5% according to Monish, of Tencent's total revenue.
The girl talking about ali baba at 1.21 minutes is spot on ( she predicted what happened with the stock today!!)
My favourite part is what he says at 38:20 haha...and I said WOAH!
Thoughts on Pony Ma's "leaked" statement regarding Tencent’s role as an "assistant and connector" and being replaceable etc? Monish Pabrai's comments here about how monopolies like to downplay their companies and business models to avoid competition and regulation have me thinking that Pony's statement is just a strategic way to avoid regulation and scrutiny and the monopoly remains very much intact. Thoughts?
Happy that we are both BABA bulls. :)
He actually seemed less bullish on Alibaba than in the past (I.e business model isn’t that strong compared to Tencent, better off looking for the “next” Alibaba as it cannot 10x quickly..)
@@jackb616 I agree, less bullish than Tencent, but still an investor.
@@jackb616 Even if Tencent has a better business model, BABA has been knocked down more, and is a lot cheaper. So as long as the government allows them to do business, BABA could do a 3x in the space of a couple of years without doing anything special.
@Mohnish Pabrai Do you think Chinese government allows to grow Tencent like biggest monopoly. I am guessing Government policies decide most of the long-term growth.
what took you so long !! i was having withdrawals XD
I don’t understand his reasoning on business capital allocation. Isn’t part of being a great capital allocator keeping cash on hand to make opportunistic acquisitions or be able to maneuver a crises more safety? Berkshire Hathaway is known for keeping a very large cash position but I don’t think anyone would say they aren’t great capital allocators.
Berkshire have to keep a certain amount of cash to cover insurance payouts. The rest they’d like to deploy I expect
@@patrickchapman5335 right but the reasoning that “because Amazon and Tencent don’t have any cash, they are therefore better capital allocators than companies with cash” assume that they are fully optimizing every dollar they have at the highest rate of return, when I don’t believe that’s true. I love how pabrai thinks most of the time but this section didn’t make sense to me.
Interesting point. Maybe because of all the cash these businesses have this is a drag on their real return on investment and including that drag tencent and Amazon have higher rates of return but I’m not sure either!
Kind of got the feeling that Mohnish has bought Tencent also
Seems
Thankyou Sir.... I am exactly cloning your path😄