Mohnish Pabrai's Stock Portfolio
Overview
Mohnish Pabrai is the most transparent value investor alive. He freely admits to 'cloning' the ideas of great investors — studying 13Fs, reading letters, reverse-engineering what Buffett or Munger or others would have bought — and has built a compelling long-term record doing exactly that. He famously paid $650,100 to have lunch with Warren Buffett (together with Guy Spier), and has since become a teacher himself, particularly through the Dakshana Foundation he funds. His fund letters, lectures, and interviews are all freely shared. If you're new to value investing, start here — Pabrai is both the best explainer and a living proof of concept.
Primary Resources
Straight from the investor or their firm — the highest-signal material available.
Unusually candid letters covering each year's performance, mistakes, and lessons. He doesn't hide bad years. Start from the 2008–2009 period to understand how he thinks about risk and permanent loss.
His own channel with hundreds of talks, lectures, and Q&A sessions. Unfiltered and remarkably high quality. Particularly good for students — many are university lectures.
His core investment framework in one short book. The core idea — 'Heads I win, tails I don't lose much' — is the clearest statement of asymmetric risk/reward in investing writing.
Key Talks & Interviews
Curated, not exhaustive — the one or two appearances worth your time if you're new to this investor.
The best single introduction to Pabrai's framework. One hour, covers cloning, position sizing, checklist investing, and the Dhandho philosophy.
William Green's interview goes beyond the investment framework to Pabrai the person — how the Buffett lunch changed him, what he regrets, and what he'd tell his younger self.
A lecture specifically on the cloning approach — how to read 13Fs, which investors are worth cloning, and the edge (if any) in doing so systematically.