Value investing2007
The Dhandho Investor
Mohnish Pabrai
Explains value investing in plain language: seek low-risk, high-upside opportunities with favorable odds and act only when the edge is clear.
Checklist
Do I have a rule to estimate value instead of forecasting short-term price?
Do I have a rule to demand a margin of safety?
Do I have a rule to prioritize avoiding permanent loss?
Do I have a rule to wait for price and quality to align?
Write down what would invalidate the thesis.
Set a review date before acting.