Mohnish Pabrai lecture to Trinity Student Managed Fund at Trinity Business School, Trinity College Dublin, in Dublin, Ireland, on February 21, 2019.

(00:00:00) - Introduction

(00:02:59) - BULL! A history of the boom and bust, 1982-2004 by Maggie Mahar

(00:03:54) - THE DOW (1896 – 2019)

(00:07:52) - Market conditions when Pabrai Funds started

(00:09:36) - Price matters

(00:12:14) - S&P 500 (1928 – 2019)

(00:12:43) - Nasdaq (1971 – 2019)

(00:13:19) - Sensex (1979 – 2019); Dax (1988 – 2019)

(00:13:58) - Property bubble to NIKKEI (1970 – 2019)

(00:16:28) - KOSPI (1980 – 2019)

(00:24:50) - Lessons from Charlie Munger and Warren Buffett

(00:30:11) - Advice on Starting a Career

(00:32:22) - Definition of Success

(00:35:06) - Hedge Fund Fee Structure

(00:43:14) - When should one start a Fund

(00:50:11) - Succession plan at Pabrai Funds

(00:51:10) - Mental Models with Philanthropy; Dakshana Foundation

(00:59:07) - Low Risk and High Uncertainty Bets

(01:05:25) - Finding your own rope during drawdowns

(01:09:35) - Thoughts on current market levels

The contents of this video are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.

Mohnish Pabrai speaks at Trinity College Dublin - February 21, 2019

Chai with Pabrai