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.
Core ideas
Idea 1
Estimate value instead of forecasting short-term price.
Idea 2
Demand a margin of safety.
Idea 3
Prioritize avoiding permanent loss.
Idea 4
Wait for price and quality to align.