“The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.” IfsWayShouldCirclesCompetence Author:Mohnish Pabrai
“Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.” PeopleIfsThinkingWantRealityStudyRiskEntrepreneurLunchNot InterestedTaking RisksFree Lunch Author:Mohnish Pabrai
“We Americans love original ideas. But truly, there are already plenty of good ones out there, ours for the taking. If I were too proud to copy the ideas of others, I likely wouldnt have even a fraction of my current success.” IfsIdeasProudOriginalsCurrentsPlentyCopiesFractionsOriginal Ideas Author:Mohnish Pabrai
“The good news in investing is there are no HR problems. If there are no humans, there are no problems!” IfsHumansProblemNewsInvestingGood NewsNo Problem Author:Mohnish Pabrai
