TIP628: THE INNER SCORECARD

W/ MOHNISH PABRAI

04 May 2024

On today’s show, Stig Brodersen talks with legend value investor Mohnish Pabrai. Since its inception in 1999, one dollar invested in the flagship fund would have turned into $12.51 vs. $4.72 for the S&P500. In the interview, Mohnish Pabrai discusses his approach to a congruent life.

Disclaimer: Stig Brodersen is invested in Pabrai Funds.

SUBSCRIBE

Subscribe through iTunes
Subscribe through Castbox
Subscribe through Spotify
Subscribe through Youtube

IN THIS EPISODE, YOU’LL LEARN:

  • Which decisions Mohnish Pabrai made to improve his happiness
  • How to use the Buffett system to grade people
  • Why Mohnish likes to play bridge more than poker
  • Which principles Mohnish lives by
  • How Buffett and Mohnish (do not) take notes

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:03] Stig Brodersen: Every year during the Berkshire weekend. We are publishing our episode with the legendary investor, Mohnish Pabrai. This year is no exception. Mohnish’s flagship fund has returned 11.7% annualized since deception in 1999. That is 4 percentage point more than S&P 500. One dollar invested would have returned $12.51 compared to $4.72 for the S&P 500. This episode will be a little different than our previous conversations. Our main topic is about living a congruent life and how to be aligned with your inner scorecard. So without further delay, I bring you Mohnish Pabrai.

[00:00:44] Intro: Celebrating 10 years and more than 150 million downloads. You are listening to The Investor’s Podcast Network. Since 2014, we studied the financial markets and read the books that influence self-made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Stig Brodersen.

[00:01:13] Stig Brodersen: Welcome to The Investor’s Podcast. I’m your host, Stig Brodersen and today we couldn’t be in better company. Mohnish Pabrai has joined us for a conversation about life and investing. Mohnish, how are you today?

[00:01:26] Mohnish Pabrai: I’m doing great. It’s a beautiful day in Austin and in a few weeks, we’ll be in Omaha, so it’s wonderful.

[00:01:35] Stig Brodersen: I’ve had the privilege, I should say, of interviewing you a lot of times and it’s always been a lot of fun and one of the wonderful things about getting the opportunity to interview you is that I’ll go through all of your interviews over the past year. So on the YouTube channel, there might be another 30 videos, whatever over the past year.

[00:01:52] Stig Brodersen: And I gave myself this challenge to, you know what, whenever you go to a concert and the artist wants to play his like newest songs, but everyone else wants him to play the greatest hits, which is terrible, right? So I’m going to be that terrible person who’s going to say, let’s hear something from the new album.

[00:02:12] Stig Brodersen: So in one of those wonderful interviews that you did, someone said to me, or someone said that he was on a train ride with you. And he said, like, he met you in Omaha. Then he, for whatever reason, he sat next to you on a train ride and it was completely coincidental. So I wanted to use that premise and ask you some questions that are super selfish and just ask you something about life.

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

BOOKS AND RESOURCES

NEW TO THE SHOW?

Support our free podcast by supporting our sponsors:

CONNECT WITH STIG

CONNECT WITH MOHNISH

PROMOTIONS

Check out our latest offer for all The Investor’s Podcast Network listeners!

WSB + BFF + RWH Promotions

The Intrinsic Value Newsletter