“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
“People see poverty all around them in India, but they are desensitized or immune to it. I came to the conclusion that poverty is driven by lack of education.” PeoplePovertyIndiaDrivenConclusionImmuneLack Of Education Author:Mohnish Pabrai
“Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.” PeopleWorldYearsHumansSaidValuesProcessDifferencesBrainFiveMinutesInvestingFive YearsFive MinutesHuman BrainBuffettWiringWarren Buffet Author:Mohnish Pabrai
“Mistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.” PeopleDoeMistakeTeacherDesirableBest Teacher Author:Mohnish Pabrai
