$650K Lunch With Warren Buffett

In this video we can listen Mohnish Pabrai, who paid $650k for a lunch with Warren Buffett. He says that he spent the money because he just wanted to thank Warren, because he used for almost fifteen years Warren Buffett's approach, his intellect, for investing. So he feels that he needs to thank him in person somehow for these things. Another best thing about Warren has nothing to do with investing, but it has anything to do with living a great life. Mohnish Pabrai got rich by following Warren's tips. The money was to support his charity, in which Buffett strongly believes.

The host of the show asks Mohnish Pabrai to talk about a lesson that he learned from Warren Buffett. He says that he likes a lot the way how he runs his affairs, he is able to keep his calendar completely empty, he has 70 people directly reporting to him. Basically, it frees a lot of time for him, to think. Then, we can see a video of Warren Buffett, talking about his investment strategy. Warren says that he only buys things that he thinks are reasonable priced and if he understands those things, he buys them. So, if something looks attractive to him, he buys it, thinking that he can do a lot of money from that.

In this period, the global economy is very different. India and China have very strong growth engines. Plenty companies from there are growing with more than fifty percent a year. Those markets are overrated. He found that certain businesses in China, like great mining companies or commodities companies have strong beneficiary of China's growth, but also of inflation in the years ahead.

Mohnish Pabrai quotes from this video:

  • If you are down 60% and then you are up 60%, it does not mean that you are not back to 0 yet.
  • He does not have a blackberry, he does not have any email account, he only has a cellphone.
  • Warren Buffett’s life style is very timeless and very accurate.
Submitted by YouTube Trader on Sun, 04/04/2010 - 18:26

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