The good thing about getting wealthy is we don't need to understand a lot of things! Mohnish Pabrai More Quotes by Mohnish Pabrai More Quotes From Mohnish Pabrai What is John Arriaga's circle of competence? Is it real estate? No! Is it U.S. real estate? No! Is it California real estate? No! Northern California real estate? No! Only real estate around Stanford. His circle of competence is this small. Mohnish Pabrai real-estatecirclesmallreal You know, my degrees are in computer engineering. I spent a lot of time in the tech industry. And I like to say that I don't invest in tech because I spent time in it. And I saw firsthand that the durability of technology moats is many times an oxymoron. Mohnish Pabrai knowyoutechnologytime Industries with rapid change are the enemy of the investor. Tech businesses, particularly biotech, is a problem from that point of view. All industries work with change, but you should ideally be investing in businesses with a low rate of change, not a high rate of change. Mohnish Pabrai viewyouchangework To the extent societal rules or the wiring of your brains make it easy to acquire a lot of assets, then to the extent you can, you should try to improve the world. Mohnish Pabrai rulesyoueasyworld The single biggest advantage a value investor has is not IQ. It's patience and waiting. Waiting for the right pitch, and waiting for many years for the right pitch. Mohnish Pabrai valuesinglewaitingpatience Before starting my own investment funds, the only models I was aware of were those of Warren Buffett and Charlie Munger. Their models made a lot of sense to me, so I cloned them. Mohnish Pabrai ownmeinvestmentmy-own I used to not talk much to anyone about my investments. Mohnish Pabrai muchabouttalkused It is the performance of the business that matters. It is hard enough to figure out the future of the business. Do not try to figure out the future of the country or the world; focus on the business. Mohnish Pabrai futurefocusbusinessworld
