IN THIS EPISODE, YOU’LL LEARN
---00:02:41 - How an introduction from Warren Buffett led to Mohnish’s friendship with Charlie Munger.
---00:04:46 - What it’s been like to hang out with Charlie over the last 14 years.
---00:15:45 - How Warren and Charlie have succeeded by being voracious “learning machines.”
---00:18:59 - How Warren and Charlie differ from each other as investors.
---00:22:12 - How Charlie figured out that Li Lu would be one of the greatest investors of our time.
---00:42:34 - Why it’s helpful to know that even the best investors are wrong a third or half of the time.
---00:43:18 - How a checklist and other “circuit breakers” can help you to reduce your error rate.
---01:00:53 - Why Mohnish and Charlie believe it’s a huge competitive advantage to be ethical.
---01:03:56 - How Mohnish decides whether or not to build a relationship with someone.
---01:12:55 - How he’s changed, becoming more committed to serving others as selflessly as possible.
---01:15:19 - What Mohnish figured out about how to parent his daughters.
---01:24:01 - How the power principles he learned from David Hawkins have changed his life.
---01:25:16 - Why it’s so valuable to be candid and to “bare your soul.”
---01:39:52 - Where Mohnish wants his ashes to be scattered after he dies.
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
---Mohnish Pabrai’s website, [Chai with Pabrai] (http://www.chaiwithpabrai.com/) .
---Mohnish’s book, [The Dhando Investor] (https://www.amazon.com/Dhandho-Investor-Low-Risk-Method-Returns/dp/047004389X/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1654797417&sr=1-3) .
---Learn more about Mohnish’s [Dakshana Foundation] (https://www.dakshana.org/) .
---Stig Brodersen’s latest [interview] (https://www.theinvestorspodcast.com/episodes/investing-in-stocks-w-mohnish-pabrai/) with Mohnish about stock investing.
---William Green’s book, “Richer, Wiser, Happier” – [read the reviews of this book] (https://www.amazon.com/Richer-Wiser-Happier-Greatest-Investors/dp/1501164856) .
---Mohnish explains [how “Richer, Wiser, Happier” transformed his investing approach] (https://www.youtube.com/watch?app=desktop&v=OmrVUxTGENw) .
---David Hawkins’ books “ [Power vs Force] (https://www.amazon.com/David-R-Hawkins-Determinants-Behavior/dp/B00HTJOEAW/ref=sr_1_2?crid=1XWWWG40T44IO&keywords=power+vs+force+by+david+hawkins&qid=1654799920&s=books&sprefix=power+vs+%2Cstripbooks%2C106&sr=1-2) ,” “ [Letting Go] (https://www.amazon.com/Letting-David-Hawkins-M-D-Ph-D/dp/1401945015/ref=sr_1_1?crid=1L2L9DXQRTG3D&keywords=letting+go+by+david+hawkins&qid=1654799968&s=books&sprefix=letting+go%2Cstripbooks%2C58&sr=1-1) ,” and “ [The Eye of the I] (https://www.amazon.com/Eye-Which-Nothing-Hidden/dp/140194504X/ref=sr_1_1?crid=1D4C1GKDIVQUD&keywords=the+eye+of+the+i+by+david+hawkins&qid=1654800029&s=books&sprefix=the+eye+of+the+i+%2Cstripbooks%2C52&sr=1-1) .”
---William Green’s [Twitter] (https://twitter.com/williamgreen72) .
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