On today’s episode, Kyle Grieve dives deep into Mohnish Pabrai’s The Dhandho Investor, unpacking its nine core principles through vivid case studies and personal reflections to help investors embrace simplicity, asymmetric bets, and the power of cloning proven ideas.IN THIS EPISODE YOU’LL LEARN:<ul>
<li>Why buying an existing business can be a smarter path than starting one from scratch.</li>
<li>Profiting from businesses with short-term earnings visibility—and why it matters.</li>
<li>The enduring strength and clarity of simple business models.</li>
<li>How distressed businesses in troubled industries can become goldmines.</li>
<li>Why hidden moats often offer the biggest edge—and how to spot them.</li>
<li>The case for concentration: how fewer bets can lead to outsized returns.</li>
<li>What modeling Costco reveals about risk, value, and margin of safety.</li>
<li>The counterintuitive appeal of low-risk, high-uncertainty investments.</li>
<li>How to use the cloning principle to shortcut your search for winners.</li>
<li>Why your sell strategy should evolve with the quality of the business you own.</li>
<li>And so much more!</li>
</ul>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>Read The Dhando Investor <a href="https://www.amazon.com/Dhandho-Investor-Low-Risk-Method-Returns/dp/047004389X?crid=3HH42T287RZUD&dib=eyJ2IjoiMSJ9.hTHHi25IuMt3HXIqxNEMWprMEsAm5pIb7YqyND0tmweloUioO5D34eCRUNne2zGek6svtUsCKwD54o7DMLqWP27zc1-IOE24nfTCEmdudzz8HGsF1sT8apAUoc3tmwUGmw7odZ8xSpOf3p8KKDhhC7-paZOn69Dmay6MVQIF-ZXz1bMPy6jpySrFEBtfgokYQRanljU5CX7Zxn_wcDHoaKRf65DPUgMh3Vf1klOB9l0.c_IFrya7YWoopmPOtu2zoI9oJClb34hUiYe6vxocHcs&dib_tag=se&keywords=dhandho+investor&qid=1744042762&sprefix=dhando+investo%2Caps%2C156&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=ff4a9a690aaf62971689c1548e12db13&language=en_US&ref_=as_li_ss_tl">here</a>.</li>
<li>Read The Intelligent Investor by Benjamin Graham <a href="https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661?crid=3OW0ZZV2KU15H&dib=eyJ2IjoiMSJ9.lvD2061YY4UZtF_JoQoa2JEg2KSZtEYDUQIAL83rx6iOX7br0_PqigkZ_4vuBi6DTrY7hDzq_MzFgxiBnb0MrxKBHcx9yzY6WtzX64TifzLdok-ihVoB4M_dC9B30TFlGOeKUqRYrXmNbDOlt3fYrrot-nUoXwkgrlqby07czj-4t58YBtvu-qYluSuFrmoLm-pYqjTaCHmhynw28ZyER_dGLoGsn9Zvi2EwkAmcgDU.FqIhJRpenpu_YZMw9GYjNdHv6v8nwcYfGZf5tTET2Ss&dib_tag=se&keywords=the+intelligent+investor&qid=1744042865&sprefix=the+intelig%2Caps%2C210&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=559e327132c6077b4eafbfbd0d1b11c8&language=en_US&ref_=as_li_ss_tl">here</a>.</li>
<li>Read Richer, Wiser, Happier by William Green <a href="https://www.amazon.com/Richer-Wiser-Happier-Greatest-Investors/dp/1501164856?crid=2HD1Q6D5FPQQW&dib=eyJ2IjoiMSJ9.Mz-AYFVMgEp5NLKQ2Ns4uL0MKbQZ_ZYvzvIN50lYIABaR_rSap4kM3fnIWWTZkGhBtP-MG0Krg2fT4Xh38F2uq1iOgaclqKIk4bfmgL6J7ZgLzRr6mXL2_S4iQ4YQVxdPLqqnzN0ZNsBdxSs_hYiXzLtRf6wEH2QzbdHy-fxMYdlOuhx7H1leuvgeFEPyi6MnLPqceVrR4BcR44_B3lhGWp-vyTVER4KVA-4CNwKPlA.IwbAETVYWDvGFGgYjS5rSNb5ktMav1cfRtgFj8LfyUY&dib_tag=se&keywords=richer+wiser+happier&qid=1744042886&sprefix=richer+wiser+happie%2Caps%2C199&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=ed729ec52626dc38fbdb3fafc5a1c397&language=en_US&ref_=as_li_ss_tl">here</a>.</li>
<li>Read The Little Book That Beats the Market by Joel Greenblatt <a href="https://www.amazon.com/Little-Book-Still-Beats-Market/dp/0470624159?crid=1D7Q9LN85N7YN&dib=eyJ2IjoiMSJ9.PHxiRcmi1fRXA6tUE50eS5YwgBhPeGYS2o-1UEe-xK2pmjxxOlLw8bt3nFBHpCreOoyKk_gvZvbVChB6WOGhw1hFXMMWjoxY9yfTHUDta72x86exMxjL8lLqDG18YEk00kz1hzWMIdL4KyjPI7JmkDBSA2SXEotpSEJA7b7z2rRMrzHNzzctTB2wuelRNiNTCfSGbYjYbq3LLLHzK6dJ_UGiGO2CAodo8WqiwcT0pGI.6EfblGa0KmwkpXpxstG3m7VetFNH2zsCi2Pptk1nCP8&dib_tag=se&keywords=the+little+book+that+beats+the+market&qid=1744042902&sprefix=the+little+book+that+beat%2Caps%2C198&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=3f5eae8172966763eec7f1ca9cf8075b&language=en_US&ref_=as_li_ss_tl">here</a>.</li>
<li>Follow Kyle on <a href="https://x.com/IrrationalMrkts">X</a> and <a href="https://www.linkedin.com/in/kylegrievetip/">LinkedIn</a>.</li>
<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><h3></h3>NEW TO THE SHOW?<ul>
<li>Get smarter about valuing businesses in just a few minutes each week through our newsletter, <a href="https://www.theinvestorspodcast.com/newsletters/">The Intrinsic Value Newsletter</a>.</li>
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<li>Browse through all our episodes (complete with transcripts) <a href="https://www.theinvestorspodcast.com/we-study-billionaires/">here</a>.</li>
<li>Try our tool for picking stock winners and managing our portfolios: <a href="https://www.theinvestorspodcast.com/tip-finance/">TIP Finance Tool</a>.</li>
<li>Enjoy exclusive perks from our <a href="https://www.theinvestorspodcast.com/affiliates/">favorite Apps and Services</a>.</li>
<li>Learn how to better start, manage, and grow your business with the <a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/">best business podcasts</a>.</li>
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TIP714: Bet Big, Bet Rarely: The Dhandho Investing Playbook w/ Kyle Grieve

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