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 $13.63 vs. $6.19 for the S&P 500. In the special interview, you can join Mohnish and Stig’s metaphorical restaurant and together taste new wonderful dishes in investing and life. 

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:36 - How stock investors can truly think like the owners of the business
10:09 - Which advice would Mohnish give to himself at ages 40 and 50
20:48 - Why you should learn from your mistakes, but not too much
33:07 - Why Mohnish looks at philanthropy as part two of the ultimate game
35:41 - Why you need to work with the fewest possible variables in philanthropy
51:30 - How to look at an “execution moat” 
1:00:59 - Why Stig thinks that Mohnish is over diversified 

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
<ul>
 <li>Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more <a href="https://www.theinvestorspodcast.com/summit/">⁠⁠here⁠⁠</a>.
</li>
 <li>Join the exclusive <a href="https://www.theinvestorspodcast.com/mastermind-2/">⁠⁠TIP Mastermind Community⁠⁠</a> to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.</li>
 <li>Mohnish Pabrai’s <a href="http://www.chaiwithpabrai.com/">website</a>.
</li>
</ul>
<ul>
 <li>Learn more about Mohnish Pabrai’s <a href="https://dakshana.org/">Dakshana Foundation.</a>
</li>
</ul>
<ul>
 <li>Our interviews with Mohnish Pabrai about <a href="https://www.theinvestorspodcast.com/episodes/the-inner-scorecard-w-mohnish-pabrai/">The Inner Scorecard</a>.
</li>
</ul>
<ul>
 <li>Our interviews with Mohnish Pabrai about <a href="https://www.theinvestorspodcast.com/episodes/masterclass-w-mohnish-pabrai/">Masterclass Investing</a>.
</li>
</ul>
<ul>
 <li>Our interviews with Mohnish Pabrai about<a href="https://www.theinvestorspodcast.com/episodes/investing-in-stocks-w-mohnish-pabrai/"> investing in stocks.</a>
</li>
</ul>
<ul>
 <li>Our interviews with Mohnish Pabrai about <a href="https://www.theinvestorspodcast.com/episodes/tip295-mohnish-pabrai-on-value-investing-philanthropy/">value investing and philanthropy</a>.
</li>
</ul>
<ul>
 <li>Check out all the books mentioned and discussed in our podcast episodes <a href="https://prodcast.io/wsb">⁠⁠here⁠⁠</a>.</li>
 <li>Enjoy ad-free episodes when you subscribe to our <a href="https://premium.theinvestorspodcast.com/">⁠⁠Premium Feed⁠⁠</a>.</li>
</ul>

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SPONSORS
Support our free podcast by supporting our <a href="https://theinvestorspodcast.com/sponsors">⁠⁠sponsors⁠⁠</a>:
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Help us reach new listeners by leaving us a <a href="https://docs.google.com/presentation/d/1Rnl5KGxmrYISQ7UfbEREMN-AD6b40i6CwWUbXaTabmI/edit">⁠⁠rating and review⁠⁠</a> on <a href="https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP?si=e77332a33ef04a7c">⁠⁠Spotify⁠⁠</a>! 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! Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>Support our show by becoming a premium member! <a href="https://theinvestorspodcastnetwork.supportingcast.fm">https://theinvestorspodcastnetwork.supportingcast.fm</a>

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