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| nationality = American, Indian
| nationality = American, Indian
| occupation = Investor, businessman, philanthropist
| occupation = Investor, businessman, philanthropist
| known_for = Founder and Managing Partner of Pabrai Investment Funds, author of ''The Dhandho Investor''
| known_for = Founder of Pabrai Investment Funds, Dakshana Foundation
| education = [[Clemson University]] (B.S. in Computer Engineering)
| education = Clemson University
| website = {{URL|http://www.pabraifunds.com/}}
}}
}}


'''Mohnish Pabrai''' (born June 12, 1964) is an Indian-American investor, businessman, author, and philanthropist. He is the founder and managing partner of Pabrai Investment Funds, a series of value-oriented investment partnerships modeled after the original [[Berkshire Hathaway]] limited partnerships of [[Warren Buffett]]. Born in [[Mumbai|Bombay]], India, Pabrai immigrated to the United States and built a career that spanned technology consulting and investment management. He is the author of ''The Dhandho Investor: The Low-Risk Value Method to High Returns'' (2007), a book that articulates his investment philosophy rooted in principles drawn from the business practices of Indian immigrant entrepreneurs and the teachings of Buffett and [[Charlie Munger]]. Pabrai is also the founder of the [[Dakshana Foundation]], a philanthropic organization that prepares economically disadvantaged students in India for entrance into the [[Indian Institutes of Technology]] (IITs) and other leading engineering and medical institutions. His investment firm, operating through the entity Dalal Street LLC, has managed a concentrated equity portfolio that, as of early 2026, was valued at approximately $402 million.<ref>{{cite news |date=2026-02-23 |title=Mohnish Pabrai's Latest Portfolio: Big Bets on Coal, Energy, and Cyclical Recovery |url=https://acquirersmultiple.com/2026/02/mohnish-pabrais-latest-portfolio-big-bets-on-coal-energy-and-cyclical-recovery/ |work=The Acquirer's Multiple |access-date=2026-02-24}}</ref>
'''Mohnish Pabrai''' (born June 12, 1964) is an Indian-American investor, businessman, and philanthropist who has built a career around the principles of [[value investing]]. Born in [[Mumbai|Bombay]], India, Pabrai immigrated to the United States and went on to found Pabrai Investment Funds, a value-oriented investment firm modeled in significant part on the partnership structure pioneered by [[Warren Buffett]] in the 1950s and 1960s. His investment approach emphasizes patience, concentration, and a disciplined search for undervalued securities, principles he has articulated in public lectures, interviews, and his book ''The Dhandho Investor: The Low-Risk Value Method to High Returns'' (2007).<ref name="wiley">{{cite web |title=The Dhandho Investor: The Low-Risk Value Method to High Returns |url=http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047004389X.html |publisher=Wiley |access-date=2026-02-24}}</ref> Beyond investing, Pabrai is recognized for his philanthropic work through the [[Dakshana Foundation]], which supports economically disadvantaged students in India seeking admission to the country's elite engineering and medical institutions.<ref name="dakshana">{{cite web |title=About Us — Dakshana Foundation |url=https://web.archive.org/web/20111103102207/http://www.dakshana.org/about_us/about_us.asp |publisher=Dakshana Foundation |access-date=2026-02-24}}</ref> His investment firm, operating through the entity Dalal Street LLC, has reported equity portfolios ranging from approximately $271 million to over $400 million in recent years, with a notably concentrated approach that at times has placed 100% of assets in as few as five positions.<ref name="topfive">{{cite web |title=Mohnish Pabrai's Top 5 Positions Represent 100% Of The Total Portfolio |url=https://acquirersmultiple.com/2025/08/mohnish-pabrais-top-5-positions-represent-100-of-the-total-portfolio/ |work=The Acquirer's Multiple |date=2025-08-31 |access-date=2026-02-24}}</ref><ref name="latestportfolio">{{cite news |title=Mohnish Pabrai's Latest Portfolio: Big Bets on Coal, Energy, and Cyclical Recovery |url=https://acquirersmultiple.com/2026/02/mohnish-pabrais-latest-portfolio-big-bets-on-coal-energy-and-cyclical-recovery/ |work=The Acquirer's Multiple |date=2026-02-23 |access-date=2026-02-24}}</ref>


== Early Life ==
== Early Life ==


Mohnish Pabrai was born on June 12, 1964, in Bombay (now Mumbai), India. He grew up in an entrepreneurial household; his father was a businessman who started and ran several ventures in India, an experience that had a formative effect on Pabrai's thinking about business, risk, and reward. The family experienced both the successes and failures inherent in entrepreneurial life, and Pabrai has spoken publicly about how watching his father's business dealings — including ventures that did not succeed — shaped his understanding of risk management and the importance of downside protection in both business and investing.<ref name="businessweek">{{cite news |date=2006-08-21 |title=Mohnish Pabrai profile |url=https://web.archive.org/web/20060820021657/http://www.businessweek.com/magazine/content/06_34/b3998416.htm |work=BusinessWeek |access-date=2026-02-24}}</ref>
Mohnish Pabrai was born on June 12, 1964, in Bombay (now Mumbai), India. He grew up in an entrepreneurial household; his father was a businessman who started and ran several ventures, an experience that would later influence Pabrai's own thinking about risk, business ownership, and the entrepreneurial mindset.<ref name="ucla">{{cite web |title=Mohnish Pabrai Bio |url=http://www.anderson.ucla.edu/zone/clubs/saba/Bio-MP.html |publisher=UCLA Anderson School of Management |access-date=2026-02-24}}</ref> The elder Pabrai's business career was marked by both successes and failures, providing his son with firsthand exposure to the uncertainties and rewards of business enterprise. These early observations of his father's ventures would later inform the "Dhandho" framework that Pabrai developed as an investor — the concept, drawn from the Gujarati business community, of taking low-risk bets with significant upside potential.<ref name="wiley" />


Pabrai moved to the United States as a young man to pursue higher education. The transition from India to the U.S. marked a significant turning point in his life, exposing him to American business culture and eventually leading him to the technology industry before he transitioned into full-time investment management. His upbringing in India, particularly his observations of how entrepreneurs from the [[Gujarat]]i and other Indian communities approached business — seeking low-risk, high-return opportunities — became a central theme in his later writings and investment philosophy, which he described using the Gujarati word "dhandho," meaning business or the endeavor of creating wealth.<ref>{{cite web |title=The Dhandho Investor: The Low-Risk Value Method to High Returns |url=http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047004389X.html |publisher=Wiley |access-date=2026-02-24}}</ref>
Pabrai immigrated to the United States as a young man, joining the wave of Indian professionals and students who sought educational and professional opportunities in America during the 1980s. His transition from India to the United States marked a formative period in which he adapted to a new culture while pursuing his academic and professional ambitions. The move to America would prove pivotal, eventually providing him access to the U.S. financial markets and the intellectual tradition of value investing that had been developed by [[Benjamin Graham]], [[Warren Buffett]], and [[Charlie Munger]] — figures who would become central influences on Pabrai's investment philosophy.


== Education ==
== Education ==


Pabrai attended [[Clemson University]] in [[South Carolina]], where he earned a [[Bachelor of Science]] degree in Computer Engineering.<ref name="ucla_bio">{{cite web |title=Mohnish Pabrai Biography |url=http://www.anderson.ucla.edu/zone/clubs/saba/Bio-MP.html |publisher=UCLA Anderson School of Management |access-date=2026-02-24}}</ref> His technical education provided the foundation for his early career in information technology and consulting. While his formal academic training was in engineering rather than finance, Pabrai later became a self-taught student of value investing through extensive reading of the works of Warren Buffett, Charlie Munger, and [[Benjamin Graham]]. He has frequently credited his independent study of investing principles — particularly Buffett's annual letters to [[Berkshire Hathaway]] shareholders and Graham's ''[[The Intelligent Investor]]'' — as more influential on his professional trajectory than his formal university education.
Pabrai pursued his higher education in the United States, earning a degree in computer engineering from [[Clemson University]] in South Carolina.<ref name="ucla" /> His technical background in engineering provided him with analytical skills that he would later apply to the evaluation of businesses and investment opportunities. While his formal education was in technology rather than finance, Pabrai's intellectual development as an investor was largely self-directed, driven by extensive reading of the works of Warren Buffett, Charlie Munger, and Benjamin Graham. He has frequently credited his study of Buffett's annual letters to [[Berkshire Hathaway]] shareholders and Graham's seminal text ''The Intelligent Investor'' as formative influences on his approach to capital allocation and security analysis.


== Career ==
== Career ==


=== Early Career in Technology ===
=== Early Career and TransTech ===


After completing his degree at Clemson University, Pabrai entered the information technology industry. He worked as an IT consultant and eventually joined Tellabs, a telecommunications equipment company, where he gained experience in the technology sector.<ref name="ucla_bio" /> In 1991, Pabrai founded TransTech, Inc., an IT consulting and systems integration firm, using approximately $100,000 — a sum that reportedly included $70,000 from his 401(k) retirement savings and $30,000 charged to credit cards. He built TransTech into a successful business, and the firm grew to generate several million dollars in annual revenue.<ref name="businessweek" /> The experience of building TransTech from a small investment into a profitable enterprise reinforced his appreciation for entrepreneurial risk-taking when the odds are favorable and the downside is limited — a concept that would later become central to his investment philosophy.
After completing his education at Clemson University, Pabrai began his professional career in the technology sector. He worked as a consultant at the firm then known as Kurt Salmon Associates, a management consulting firm.<ref name="kurtsalmon">{{cite web |title=Kurt Salmon Associates |url=http://www.kurtsalmon.com/ |publisher=Kurt Salmon |access-date=2026-02-24}}</ref> Drawing on his engineering background and consulting experience, Pabrai founded TransTech, Inc., an information technology consulting and systems integration firm, in 1991. He built the company from its founding with an initial investment reported to be approximately $100,000, growing it into a multimillion-dollar enterprise.<ref name="ucla" /> The experience of building and running TransTech reinforced the entrepreneurial lessons Pabrai had absorbed from observing his father's businesses in India and deepened his understanding of business operations, cash flow management, and value creation.


Pabrai eventually sold TransTech and used the proceeds, along with capital accumulated during his years running the business, to fund his transition into investment management. His experience founding and running a technology company gave him practical insight into business operations, competitive dynamics, and capital allocation — skills he later applied to evaluating public companies as an investor.
During the years he spent building TransTech, Pabrai simultaneously developed his knowledge of investing through intensive self-study. His reading of Warren Buffett's letters and the broader literature of value investing convinced him that the principles of buying businesses at a discount to their intrinsic value, with a margin of safety, could be applied systematically to public market investing. This intellectual journey eventually led him to transition from technology entrepreneurship to full-time investment management.


=== Pabrai Investment Funds ===
=== Pabrai Investment Funds ===


In 1999, Pabrai founded Pabrai Investment Funds, a family of investment partnerships structured similarly to the limited partnerships that Warren Buffett had managed in the 1950s and 1960s before taking control of Berkshire Hathaway.<ref name="businessweek" /> The fund structure was notable for its fee arrangement: Pabrai adopted a model in which he charged no management fee, instead taking a percentage of profits above a designated hurdle rate — a structure he adopted in emulation of Buffett's original partnership terms. This fee structure was considered unusual in the hedge fund industry, where the standard model at the time involved a 2% annual management fee and 20% of profits (the so-called "2 and 20" model).
In 1999, Pabrai founded Pabrai Investment Funds, launching his career as a professional investor and money manager.<ref name="pabraifunds">{{cite web |title=Pabrai Investment Funds |url=http://www.pabraifunds.com/ |publisher=Pabrai Investment Funds |access-date=2026-02-24}}</ref> The fund structure was deliberately modeled on the partnership format that Warren Buffett had used in his early investment partnerships during the 1950s and 1960s, before Buffett transitioned to managing Berkshire Hathaway. Like Buffett's original partnerships, Pabrai's funds employed a fee structure that aligned the manager's interests with those of investors, charging no management fee and instead taking a percentage of profits above a specified hurdle rate.<ref name="bw">{{cite news |title=Mohnish Pabrai |url=https://web.archive.org/web/20060820021657/http://www.businessweek.com/magazine/content/06_34/b3998416.htm |work=BusinessWeek |date=2006-08-21 |access-date=2026-02-24}}</ref>


Pabrai Investment Funds followed a concentrated value investing approach, typically holding a small number of positions in companies that Pabrai determined were trading significantly below their intrinsic value. The investment strategy drew on the principles articulated by Benjamin Graham and Warren Buffett, emphasizing a large margin of safety, patience, and a willingness to hold cash when attractive opportunities were not available.
Pabrai's investment philosophy centers on several core tenets: buying businesses at a significant discount to intrinsic value, maintaining a concentrated portfolio of high-conviction positions, exercising patience in both buying and holding, and avoiding unnecessary complexity. He has described his approach as seeking investments where the downside is limited and the upside is substantial — the "heads I win, tails I don't lose much" framework that he elaborated in his book ''The Dhandho Investor''.<ref name="wiley" />


The fund gained attention for its strong early returns and for Pabrai's disciplined adherence to value investing principles. A ''BusinessWeek'' profile in 2006 highlighted Pabrai's investment approach and his growing reputation among value investors.<ref name="businessweek" />
The fund's performance attracted attention in the financial media and among the value investing community. ''BusinessWeek'' profiled Pabrai and his investment approach, highlighting his disciplined adherence to value investing principles and the Buffett-inspired structure of his funds.<ref name="bw" /> Over time, the firm grew substantially, with assets under management reaching significant levels. As of the latest quarterly filings in early 2026, Pabrai's Dalal Street LLC reported an equity portfolio of approximately $402 million.<ref name="latestportfolio" />


=== Investment Philosophy ===
=== Investment Philosophy and Approach ===


Pabrai's investment philosophy is centered on the concept of "Heads I win, tails I don't lose much," a formulation he uses to describe investments where the potential upside significantly exceeds the potential downside. This asymmetric risk-reward framework is the organizing principle of his book ''The Dhandho Investor: The Low-Risk Value Method to High Returns'', published by [[John Wiley & Sons]] in 2007.<ref>{{cite web |title=The Dhandho Investor: The Low-Risk Value Method to High Returns |url=http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047004389X.html |publisher=Wiley |access-date=2026-02-24}}</ref> In the book, Pabrai drew on the business practices of Patel motel owners and other Indian immigrant entrepreneurs in the United States, arguing that their approach to business — investing in situations with limited downside and significant upside potential — embodied the principles of sound value investing.
Pabrai's investment philosophy has been articulated consistently across decades of public speaking, interviews, and his published writings. He advocates for extreme concentration in a portfolio, a practice he has carried to its logical conclusion. As of mid-2025, his Dalal Street LLC portfolio held just five positions that represented 100% of total assets, an unusually concentrated approach even by value investing standards.<ref name="topfive" />


Key tenets of Pabrai's investment philosophy include:
In a December 2025 fireside chat with the Ben Graham Centre, Pabrai emphasized the foundational importance of patience in investing, comparing the ideal investor temperament to "watching paint dry."<ref name="paintdry">{{cite web |title=Mohnish Pabrai: Become A Better Investor By Watching Paint Dry |url=https://acquirersmultiple.com/2025/12/mohnish-pabrai-become-a-better-investor-by-watching-paint-dry/ |work=The Acquirer's Multiple |date=2025-12-10 |access-date=2026-02-24}}</ref> This emphasis on inactivity and patience as virtues in portfolio management reflects a core tenet of the Buffett-Munger school of investing, which holds that most investors trade too frequently and that the best returns come from buying excellent businesses at reasonable prices and holding them for extended periods.


* '''Concentration:''' Pabrai maintains a highly concentrated portfolio, often holding only a handful of positions. As of August 2025, Dalal Street LLC's U.S. equity portfolio consisted of just five positions representing 100% of portfolio assets, which at that time totaled approximately $271.6 million.<ref>{{cite news |date=2025-08-31 |title=Mohnish Pabrai's Top 5 Positions Represent 100% Of The Total Portfolio |url=https://acquirersmultiple.com/2025/08/mohnish-pabrais-top-5-positions-represent-100-of-the-total-portfolio/ |work=The Acquirer's Multiple |access-date=2026-02-24}}</ref>
At the 5th European Value Investing Conference in November 2025, Pabrai further elaborated on this theme, advocating that investors should "shut the brain off" when they own a great business, resisting the temptation to trade in and out of positions based on short-term market fluctuations or macroeconomic noise.<ref name="shutbrain">{{cite web |title=Mohnish Pabrai: "Shut the Brain Off" When You Own A Great Business |url=https://acquirersmultiple.com/2025/11/mohnish-pabrai-shut-the-brain-off-when-you-own-a-great-business/ |work=The Acquirer's Multiple |date=2025-11-17 |access-date=2026-02-24}}</ref>
* '''Patience:''' Pabrai has frequently emphasized the importance of patience in investing, comparing the ideal investor's approach to "watching paint dry." In a December 2025 fireside chat with the Ben Graham Centre, he reiterated that patience and inaction are among the most underappreciated virtues in investment management.<ref>{{cite news |date=2025-12-10 |title=Mohnish Pabrai: Become A Better Investor By Watching Paint Dry |url=https://acquirersmultiple.com/2025/12/mohnish-pabrai-become-a-better-investor-by-watching-paint-dry/ |work=The Acquirer's Multiple |access-date=2026-02-24}}</ref>
* '''Low turnover:''' In a November 2025 interview at the 5th European Value Investing Conference, Pabrai advocated for a strategy of minimal activity once an investor owns a business of high quality, advising investors to "shut the brain off" and resist the urge to trade frequently.<ref>{{cite news |date=2025-11-17 |title=Mohnish Pabrai: "Shut the Brain Off" When You Own A Great Business |url=https://acquirersmultiple.com/2025/11/mohnish-pabrai-shut-the-brain-off-when-you-own-a-great-business/ |work=The Acquirer's Multiple |access-date=2026-02-24}}</ref>
* '''Cloning:''' Pabrai is an advocate of what he calls "cloning" — studying and, where appropriate, replicating the investment ideas and practices of other successful investors. He has said that there is no shame in borrowing good ideas, and that investors can improve their results by systematically studying the portfolios and thinking of other skilled capital allocators.


=== Recent Portfolio Activity ===
In an October 2025 presentation for The Pabrai Wagons Fund, Pabrai described his investment approach as revolving around patience and concentration, emphasizing what he termed "the holy grail of investing" — finding businesses with durable competitive advantages trading at prices that provide a significant margin of safety.<ref name="holygrail">{{cite web |title=Mohnish Pabrai: The Holy Grail of Investing |url=https://acquirersmultiple.com/2025/10/mohnish-pabrai-the-holy-grail-of-investing/ |work=The Acquirer's Multiple |date=2025-10-20 |access-date=2026-02-24}}</ref>


As of the fourth quarter of 2025, Pabrai's Dalal Street LLC reported an equity portfolio of approximately $402 million, reflecting growth from $271.6 million reported in August 2025.<ref>{{cite news |date=2026-02-23 |title=Mohnish Pabrai's Latest Portfolio: Big Bets on Coal, Energy, and Cyclical Recovery |url=https://acquirersmultiple.com/2026/02/mohnish-pabrais-latest-portfolio-big-bets-on-coal-energy-and-cyclical-recovery/ |work=The Acquirer's Multiple |access-date=2026-02-24}}</ref> The portfolio has been characterized by significant allocations to coal, energy, and cyclical recovery themes. Among the notable adjustments in the fourth quarter of 2025 was a reduction in the position in Valaris Ltd, an offshore drilling company, by approximately 8.79%.<ref>{{cite news |date=2026-02-17 |title=Mohnish Pabrai's Strategic Moves: Valaris Ltd Sees a Significant Reduction of -8.79% |url=https://finance.yahoo.com/news/mohnish-pabrais-strategic-moves-valaris-140114765.html |work=Yahoo Finance |access-date=2026-02-24}}</ref>
=== Recent Portfolio and Sector Focus ===


Pabrai's portfolio is publicly tracked through 13F filings with the U.S. [[Securities and Exchange Commission]], and financial data providers such as GuruFocus maintain detailed records of his holdings, trades, and portfolio performance.<ref>{{cite web |title=Mohnish Pabrai Portfolio and News |url=https://www.gurufocus.com/guru/mohnish%2Bpabrai/summary |publisher=GuruFocus |access-date=2026-02-24}}</ref><ref>{{cite web |title=Mohnish Pabrai Portfolio, Holdings, 13F (2026-02-13) |url=https://www.gurufocus.com/guru/mohnish%2Bpabrai/stock-picks?view=table |publisher=GuruFocus |date=2026-02-13 |access-date=2026-02-24}}</ref>
Pabrai's portfolio positioning in recent years has reflected a focus on cyclical and energy-related sectors. As of the most recent 13F filing in early 2026, his Dalal Street LLC maintained an equity portfolio of approximately $402 million, with significant positions in coal, energy, and other cyclical industries, suggesting a thesis centered on cyclical recovery and undervaluation in these sectors.<ref name="latestportfolio" /> During the fourth quarter of 2025, Pabrai made strategic adjustments to his portfolio, including a significant reduction of approximately 8.79% in his position in Valaris Ltd, an offshore drilling company.<ref name="valaris">{{cite news |title=Mohnish Pabrai's Strategic Moves: Valaris Ltd Sees a Significant Reduction of -8.79% |url=https://finance.yahoo.com/news/mohnish-pabrais-strategic-moves-valaris-140114765.html |work=Yahoo Finance |date=2026-02-17 |access-date=2026-02-24}}</ref>


In an October 2025 presentation for the Pabrai Wagons Fund, Pabrai described his approach as revolving around patience and concentration, describing his investment strategy in terms of seeking what he called "the holy grail of investing" — businesses with durable competitive advantages available at prices that provide a substantial margin of safety.<ref>{{cite news |date=2025-10-20 |title=Mohnish Pabrai: The Holy Grail of Investing |url=https://acquirersmultiple.com/2025/10/mohnish-pabrai-the-holy-grail-of-investing/ |work=The Acquirer's Multiple |access-date=2026-02-24}}</ref>
His investment activity is tracked closely by financial data services, including GuruFocus, which maintains a detailed record of his portfolio holdings, sector and industry breakdowns, holding history, and performance-related data based on regulatory filings.<ref name="gurufocus">{{cite web |title=Mohnish Pabrai Portfolio and News |url=https://www.gurufocus.com/guru/mohnish%2Bpabrai/summary |publisher=GuruFocus |access-date=2026-02-24}}</ref><ref name="gurufocus13f">{{cite web |title=Mohnish Pabrai Portfolio, Holdings, 13F (2026-02-13) |url=https://www.gurufocus.com/guru/mohnish%2Bpabrai/stock-picks?view=table |publisher=GuruFocus |date=2026-02-13 |access-date=2026-02-24}}</ref>


=== Investments in India ===
=== ''The Dhandho Investor'' ===


In addition to his U.S. portfolio, Pabrai has maintained significant interest in Indian equity markets. He has spoken publicly about investment opportunities in India, including the country's [[non-banking financial company|non-banking financial companies]] (NBFCs). In a 2018 interview with ''Moneycontrol'', Pabrai commented on the state of India's NBFCs, suggesting that leaders of these institutions would benefit from reading both Shakespeare's ''[[Hamlet]]'' and the writings of Warren Buffett — a characteristically colorful way of cautioning against excessive risk-taking and urging disciplined capital allocation.<ref>{{cite news |title=Mohnish Pabrai thinks India's NBFCs need to read Hamlet and Buffett |url=https://www.moneycontrol.com/news/business/markets/mohnish-pabrai-thinks-indias-nbfcs-need-to-read-hamlet-and-buffett-3080051.html |work=Moneycontrol |access-date=2026-02-24}}</ref>
In 2007, Pabrai published ''The Dhandho Investor: The Low-Risk Value Method to High Returns'', a book that laid out his investment framework in accessible terms. Published by [[John Wiley & Sons]], the book drew on the business practices of the Patel community of Gujarat, India, who had achieved notable success in the American motel industry through a disciplined approach to risk management and capital allocation.<ref name="wiley" /> The term "Dhandho" derives from the Gujarati word meaning "endeavors that create wealth," and Pabrai used it to frame an investment approach that seeks asymmetric returns — situations where the potential upside significantly exceeds the potential downside.


=== Charity Lunch with Warren Buffett ===
The book argued that the principles underlying the Patel community's business success — buying existing businesses at low prices, minimizing fixed costs, and focusing on cash-generating assets — could be applied directly to public market investing. ''The Dhandho Investor'' became a popular text in the value investing community and contributed to Pabrai's reputation as a practitioner and teacher of value investing principles.


Pabrai is known for having won the annual charity lunch auction with Warren Buffett in 2007, along with Guy Spier, paying $650,100 for the opportunity. The auction, which raised money for the [[Glide Foundation]], became an annual event that attracted attention from investors worldwide. The experience of lunching with Buffett was described by Pabrai as a significant personal and professional event, and it further solidified his public association with the Buffett school of value investing.<ref name="businessweek" /><ref>{{cite web |title=Mohnish Pabrai |url=http://www.investorguide.com/mohnish-pabrai |publisher=InvestorGuide |access-date=2026-02-24}}</ref>
=== Views on Indian Markets ===


== Philanthropy ==
Pabrai has also been an active observer of and investor in Indian financial markets. In a 2018 commentary covered by ''Moneycontrol'', Pabrai offered his perspective on India's non-banking financial companies (NBFCs), suggesting they needed to study both Shakespeare's ''Hamlet'' and Warren Buffett's writings on risk management, implicitly cautioning about the risks of excessive leverage and poor risk assessment in the Indian financial sector.<ref name="moneycontrol">{{cite news |title=Mohnish Pabrai thinks India's NBFCs need to read Hamlet and Buffett |url=https://www.moneycontrol.com/news/business/markets/mohnish-pabrai-thinks-indias-nbfcs-need-to-read-hamlet-and-buffett-3080051.html |work=Moneycontrol |date=2018 |access-date=2026-02-24}}</ref>
 
== Personal Life ==


=== Dakshana Foundation ===
Pabrai has been open about the intellectual and personal influences that shaped his career. He has spoken publicly about the impact of his father's entrepreneurial career on his own thinking, describing how watching his father navigate the successes and failures of business ownership instilled in him an understanding of risk, resilience, and the importance of a margin of safety.<ref name="ucla" />


Pabrai is the founder of the Dakshana Foundation, a non-profit organization established to help economically disadvantaged students in India gain admission to the [[Indian Institutes of Technology]] (IITs) and other premier engineering and medical institutions. The foundation identifies talented students from low-income backgrounds and provides them with intensive coaching and support to prepare for the highly competitive [[Joint Entrance Examination]] (JEE) and other entrance exams.<ref name="dakshana">{{cite web |title=About Us — Dakshana Foundation |url=https://web.archive.org/web/20111103102207/http://www.dakshana.org/about_us/about_us.asp |publisher=Dakshana Foundation |access-date=2026-02-24}}</ref>
He is known within the investing community for his connection to Warren Buffett. Pabrai, along with Guy Spier, famously won a charity auction for a lunch with Buffett in 2007, an event organized by the Glide Foundation. The experience deepened his appreciation for Buffett's investment philosophy and personal approach to life and business.<ref name="timebuffett">{{cite web |title=Lunch with Warren Buffett |url=https://web.archive.org/web/20080701195948/http://www.time.com/time/business/article/0,8599,1819293,00.html |work=Time |access-date=2026-02-24}}</ref>


The word "Dakshana" is derived from a Sanskrit term meaning a gift or offering to a teacher. Pabrai has stated that his motivation for establishing the foundation came from a desire to replicate the transformative impact that education had on his own life and to provide opportunities for students who would otherwise be unable to afford the coaching necessary to compete for admission to India's top institutions.<ref>{{cite web |title=Letter from Mohnish Pabrai — Dakshana Foundation |url=http://www.dakshana.org/about_us/letter%20from.asp |publisher=Dakshana Foundation |access-date=2026-02-24}}</ref>
Pabrai resides in the United States and continues to manage Pabrai Investment Funds while maintaining active involvement in his philanthropic endeavors.


The Dakshana Foundation has been covered by several major publications. ''Time'' magazine profiled the foundation's work in helping underprivileged students gain access to elite education in India.<ref>{{cite news |title=Dakshana Foundation profile |url=https://web.archive.org/web/20120113044937/http://www.time.com/time/nation/article/0,8599,2104173,00.html |work=Time |access-date=2026-02-24}}</ref> The ''Economic Times'' also reported on the foundation's programs and their outcomes, noting the significant improvement in IIT admission rates among Dakshana scholars compared to the general population of test-takers.<ref>{{cite news |title=Dakshana Foundation: Helping the poor to crack IIT |url=http://economictimes.indiatimes.com/features/people-places/dakshana-foundation-helping-the-poor-to-crack-iit/articleshow/6016319.cms |work=The Economic Times |access-date=2026-02-24}}</ref>
== Philanthropy ==


Pabrai has pledged significant personal resources to the foundation and has stated his intention to donate the majority of his wealth to philanthropy, drawing inspiration from the philanthropic models of Warren Buffett and [[Bill Gates]].<ref name="dakshana" />
=== Dakshana Foundation ===


== Personal Life ==
Pabrai founded the Dakshana Foundation, a philanthropic organization focused on providing educational opportunities to economically disadvantaged students in India.<ref name="dakshana" /> The foundation identifies talented students from underprivileged backgrounds and provides them with intensive coaching and support to prepare for the entrance examinations to the [[Indian Institutes of Technology]] (IITs) and other leading engineering and medical institutions in India. The name "Dakshana" is derived from a Sanskrit word meaning "gift" or "offering to the guru."


Pabrai resides in the United States. He has been open about his admiration for Warren Buffett and Charlie Munger, and his investment philosophy and personal conduct reflect their influence. He has spoken at numerous investment conferences around the world, including events organized by the Ben Graham Centre, the European Value Investing Conference, and various university business schools, including appearances at [[UCLA Anderson School of Management]].<ref name="ucla_bio" />
The foundation's model is based on the premise that India possesses a large pool of intellectually gifted students who lack the financial resources to access the intensive preparatory coaching that is typically required to gain admission to the IITs — institutions that have produced many of India's leading engineers, scientists, and entrepreneurs. By providing this coaching at no cost to the students, Dakshana seeks to create a pathway for talented individuals from poor families to access elite education and, through it, economic mobility.<ref name="dakshanaletter">{{cite web |title=Letter from Mohnish Pabrai — Dakshana Foundation |url=http://www.dakshana.org/about_us/letter%20from.asp |publisher=Dakshana Foundation |access-date=2026-02-24}}</ref>


Pabrai is a noted reader and has recommended numerous books on business, investing, and decision-making in his public appearances. He has cited [[Charles Darwin]], [[Richard Feynman]], and various business thinkers as intellectual influences alongside Buffett and Munger.
The foundation's work has received coverage in Indian media. The ''Economic Times'' profiled the Dakshana Foundation's efforts in helping disadvantaged students gain admission to the IITs, highlighting the organization's impact on the lives of students who would otherwise have had little opportunity to access elite education.<ref name="et">{{cite news |title=Dakshana Foundation: Helping the poor to crack IIT |url=http://economictimes.indiatimes.com/features/people-places/dakshana-foundation-helping-the-poor-to-crack-iit/articleshow/6016319.cms |work=The Economic Times |access-date=2026-02-24}}</ref> ''Time'' magazine also covered the foundation's work in the context of educational opportunity in India.<ref name="time">{{cite web |title=Dakshana Foundation |url=https://web.archive.org/web/20120113044937/http://www.time.com/time/nation/article/0,8599,2104173,00.html |work=Time |access-date=2026-02-24}}</ref>


== Recognition ==
== Recognition ==


Pabrai has received attention from major business and financial media outlets throughout his career. ''BusinessWeek'' profiled him in 2006, describing his investment approach and the structure of Pabrai Investment Funds.<ref name="businessweek" /> ''Time'' magazine covered his philanthropic work through the Dakshana Foundation.<ref>{{cite news |title=Dakshana Foundation profile |url=https://web.archive.org/web/20120113044937/http://www.time.com/time/nation/article/0,8599,2104173,00.html |work=Time |access-date=2026-02-24}}</ref> His book ''The Dhandho Investor'' (2007) received attention in the value investing community and has been cited as an accessible introduction to value investing principles for general readers.<ref>{{cite web |title=The Dhandho Investor: The Low-Risk Value Method to High Returns |url=http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047004389X.html |publisher=Wiley |access-date=2026-02-24}}</ref>
Pabrai's career as an investor and philanthropist has attracted attention from major business and financial media outlets. ''BusinessWeek'' profiled his investment approach and fund structure, highlighting the Buffett-inspired model of his investment partnerships.<ref name="bw" /> ''Time'' magazine covered both his philanthropic work through the Dakshana Foundation and his notable lunch with Warren Buffett.<ref name="time" /><ref name="timebuffett" />


Financial media outlets including ''Yahoo Finance'', GuruFocus, and ''The Acquirer's Multiple'' regularly track and analyze Pabrai's investment portfolio and public statements on investing.<ref>{{cite web |title=Mohnish Pabrai Portfolio and News |url=https://www.gurufocus.com/guru/mohnish%2Bpabrai/summary |publisher=GuruFocus |access-date=2026-02-24}}</ref> His concentrated, low-turnover investment style and his public advocacy for the principles of Buffett and Graham have made him a frequently cited figure in discussions of value investing.
Within the value investing community, Pabrai has become a recognized figure through his public speaking at investment conferences worldwide, including the European Value Investing Conference, and through his associations with institutions such as the Ben Graham Centre.<ref name="shutbrain" /><ref name="paintdry" /> His book ''The Dhandho Investor'' has been cited as an accessible introduction to value investing principles and has contributed to his standing as both a practitioner and communicator of the value investing philosophy.<ref name="wiley" />


Pabrai's charity lunch with Warren Buffett in 2007 further elevated his profile within the investment community, and he has since been a regular speaker at investment gatherings and educational events around the world.
His portfolio activity is closely followed by investors and financial analysts through regulatory 13F filings, and his positions are regularly analyzed and reported by financial data platforms such as GuruFocus and investment-focused media outlets.<ref name="gurufocus" /><ref name="gurufocus13f" />


== Legacy ==
== Legacy ==


Pabrai's influence extends across both the investment and philanthropic spheres. In investing, his articulation of the "Dhandho" framework — emphasizing low-risk, high-return opportunities with substantial margins of safety — provided a distinctive cultural lens through which to understand value investing principles that had been articulated by Benjamin Graham and refined by Warren Buffett. His fund structure, which eschewed the standard "2 and 20" hedge fund fee model in favor of a performance-based arrangement more aligned with investor interests, influenced discussions about fee structures in the asset management industry.
Pabrai's legacy spans both investing and philanthropy. As an investor, he has contributed to the broader dissemination of value investing principles, particularly through his articulation of the "Dhandho" framework, which translated the investment wisdom of Warren Buffett and Benjamin Graham into a practical methodology illustrated with examples from entrepreneurial communities. His emphasis on concentrated portfolios, patience, and asymmetric risk-reward opportunities has influenced a generation of value investors who have studied his public presentations and writings.
 
Through the Dakshana Foundation, Pabrai created an institutional mechanism for channeling resources toward educational opportunity for disadvantaged students in India. The foundation's model — identifying talented students and providing them with the intensive preparation needed to compete for admission to top institutions — has been credited with materially improving outcomes for thousands of students who would otherwise have lacked access to such coaching.<ref>{{cite news |title=Dakshana Foundation: Helping the poor to crack IIT |url=http://economictimes.indiatimes.com/features/people-places/dakshana-foundation-helping-the-poor-to-crack-iit/articleshow/6016319.cms |work=The Economic Times |access-date=2026-02-24}}</ref>


Pabrai's public advocacy for simplicity, patience, and concentration in investing, along with his consistent emphasis on learning from the best practitioners rather than seeking originality for its own sake, has resonated with a generation of investors who look to his writings, lectures, and portfolio disclosures as models for their own practice.
His Buffett-modeled fund structure, with its alignment of manager and investor incentives through a no-management-fee, profit-sharing arrangement, has served as an alternative model in an industry often criticized for fee structures that benefit managers regardless of performance.<ref name="bw" />


== Publications ==
Through the Dakshana Foundation, Pabrai has created a scalable model for educational philanthropy in India that directly addresses the gap between talent and opportunity in a country where access to elite education often depends on economic resources. The foundation's focus on preparing disadvantaged students for IIT entrance examinations represents a targeted intervention at a critical juncture in the Indian educational system.<ref name="dakshana" /><ref name="et" />


* ''The Dhandho Investor: The Low-Risk Value Method to High Returns'' (John Wiley & Sons, 2007)<ref>{{cite web |title=The Dhandho Investor: The Low-Risk Value Method to High Returns |url=http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047004389X.html |publisher=Wiley |access-date=2026-02-24}}</ref>
Pabrai's combination of investment success, intellectual contribution to value investing philosophy, and philanthropic commitment has established him as a notable figure at the intersection of finance and social impact.


== References ==
== References ==
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Latest revision as of 07:16, 24 February 2026




Mohnish Pabrai
Born12 6, 1964
BirthplaceBombay (now Mumbai), India
NationalityAmerican, Indian
OccupationInvestor, businessman, philanthropist
Known forFounder of Pabrai Investment Funds, Dakshana Foundation
EducationClemson University

Mohnish Pabrai (born June 12, 1964) is an Indian-American investor, businessman, and philanthropist who has built a career around the principles of value investing. Born in Bombay, India, Pabrai immigrated to the United States and went on to found Pabrai Investment Funds, a value-oriented investment firm modeled in significant part on the partnership structure pioneered by Warren Buffett in the 1950s and 1960s. His investment approach emphasizes patience, concentration, and a disciplined search for undervalued securities, principles he has articulated in public lectures, interviews, and his book The Dhandho Investor: The Low-Risk Value Method to High Returns (2007).[1] Beyond investing, Pabrai is recognized for his philanthropic work through the Dakshana Foundation, which supports economically disadvantaged students in India seeking admission to the country's elite engineering and medical institutions.[2] His investment firm, operating through the entity Dalal Street LLC, has reported equity portfolios ranging from approximately $271 million to over $400 million in recent years, with a notably concentrated approach that at times has placed 100% of assets in as few as five positions.[3][4]

Early Life

Mohnish Pabrai was born on June 12, 1964, in Bombay (now Mumbai), India. He grew up in an entrepreneurial household; his father was a businessman who started and ran several ventures, an experience that would later influence Pabrai's own thinking about risk, business ownership, and the entrepreneurial mindset.[5] The elder Pabrai's business career was marked by both successes and failures, providing his son with firsthand exposure to the uncertainties and rewards of business enterprise. These early observations of his father's ventures would later inform the "Dhandho" framework that Pabrai developed as an investor — the concept, drawn from the Gujarati business community, of taking low-risk bets with significant upside potential.[1]

Pabrai immigrated to the United States as a young man, joining the wave of Indian professionals and students who sought educational and professional opportunities in America during the 1980s. His transition from India to the United States marked a formative period in which he adapted to a new culture while pursuing his academic and professional ambitions. The move to America would prove pivotal, eventually providing him access to the U.S. financial markets and the intellectual tradition of value investing that had been developed by Benjamin Graham, Warren Buffett, and Charlie Munger — figures who would become central influences on Pabrai's investment philosophy.

Education

Pabrai pursued his higher education in the United States, earning a degree in computer engineering from Clemson University in South Carolina.[5] His technical background in engineering provided him with analytical skills that he would later apply to the evaluation of businesses and investment opportunities. While his formal education was in technology rather than finance, Pabrai's intellectual development as an investor was largely self-directed, driven by extensive reading of the works of Warren Buffett, Charlie Munger, and Benjamin Graham. He has frequently credited his study of Buffett's annual letters to Berkshire Hathaway shareholders and Graham's seminal text The Intelligent Investor as formative influences on his approach to capital allocation and security analysis.

Career

Early Career and TransTech

After completing his education at Clemson University, Pabrai began his professional career in the technology sector. He worked as a consultant at the firm then known as Kurt Salmon Associates, a management consulting firm.[6] Drawing on his engineering background and consulting experience, Pabrai founded TransTech, Inc., an information technology consulting and systems integration firm, in 1991. He built the company from its founding with an initial investment reported to be approximately $100,000, growing it into a multimillion-dollar enterprise.[5] The experience of building and running TransTech reinforced the entrepreneurial lessons Pabrai had absorbed from observing his father's businesses in India and deepened his understanding of business operations, cash flow management, and value creation.

During the years he spent building TransTech, Pabrai simultaneously developed his knowledge of investing through intensive self-study. His reading of Warren Buffett's letters and the broader literature of value investing convinced him that the principles of buying businesses at a discount to their intrinsic value, with a margin of safety, could be applied systematically to public market investing. This intellectual journey eventually led him to transition from technology entrepreneurship to full-time investment management.

Pabrai Investment Funds

In 1999, Pabrai founded Pabrai Investment Funds, launching his career as a professional investor and money manager.[7] The fund structure was deliberately modeled on the partnership format that Warren Buffett had used in his early investment partnerships during the 1950s and 1960s, before Buffett transitioned to managing Berkshire Hathaway. Like Buffett's original partnerships, Pabrai's funds employed a fee structure that aligned the manager's interests with those of investors, charging no management fee and instead taking a percentage of profits above a specified hurdle rate.[8]

Pabrai's investment philosophy centers on several core tenets: buying businesses at a significant discount to intrinsic value, maintaining a concentrated portfolio of high-conviction positions, exercising patience in both buying and holding, and avoiding unnecessary complexity. He has described his approach as seeking investments where the downside is limited and the upside is substantial — the "heads I win, tails I don't lose much" framework that he elaborated in his book The Dhandho Investor.[1]

The fund's performance attracted attention in the financial media and among the value investing community. BusinessWeek profiled Pabrai and his investment approach, highlighting his disciplined adherence to value investing principles and the Buffett-inspired structure of his funds.[8] Over time, the firm grew substantially, with assets under management reaching significant levels. As of the latest quarterly filings in early 2026, Pabrai's Dalal Street LLC reported an equity portfolio of approximately $402 million.[4]

Investment Philosophy and Approach

Pabrai's investment philosophy has been articulated consistently across decades of public speaking, interviews, and his published writings. He advocates for extreme concentration in a portfolio, a practice he has carried to its logical conclusion. As of mid-2025, his Dalal Street LLC portfolio held just five positions that represented 100% of total assets, an unusually concentrated approach even by value investing standards.[3]

In a December 2025 fireside chat with the Ben Graham Centre, Pabrai emphasized the foundational importance of patience in investing, comparing the ideal investor temperament to "watching paint dry."[9] This emphasis on inactivity and patience as virtues in portfolio management reflects a core tenet of the Buffett-Munger school of investing, which holds that most investors trade too frequently and that the best returns come from buying excellent businesses at reasonable prices and holding them for extended periods.

At the 5th European Value Investing Conference in November 2025, Pabrai further elaborated on this theme, advocating that investors should "shut the brain off" when they own a great business, resisting the temptation to trade in and out of positions based on short-term market fluctuations or macroeconomic noise.[10]

In an October 2025 presentation for The Pabrai Wagons Fund, Pabrai described his investment approach as revolving around patience and concentration, emphasizing what he termed "the holy grail of investing" — finding businesses with durable competitive advantages trading at prices that provide a significant margin of safety.[11]

Recent Portfolio and Sector Focus

Pabrai's portfolio positioning in recent years has reflected a focus on cyclical and energy-related sectors. As of the most recent 13F filing in early 2026, his Dalal Street LLC maintained an equity portfolio of approximately $402 million, with significant positions in coal, energy, and other cyclical industries, suggesting a thesis centered on cyclical recovery and undervaluation in these sectors.[4] During the fourth quarter of 2025, Pabrai made strategic adjustments to his portfolio, including a significant reduction of approximately 8.79% in his position in Valaris Ltd, an offshore drilling company.[12]

His investment activity is tracked closely by financial data services, including GuruFocus, which maintains a detailed record of his portfolio holdings, sector and industry breakdowns, holding history, and performance-related data based on regulatory filings.[13][14]

The Dhandho Investor

In 2007, Pabrai published The Dhandho Investor: The Low-Risk Value Method to High Returns, a book that laid out his investment framework in accessible terms. Published by John Wiley & Sons, the book drew on the business practices of the Patel community of Gujarat, India, who had achieved notable success in the American motel industry through a disciplined approach to risk management and capital allocation.[1] The term "Dhandho" derives from the Gujarati word meaning "endeavors that create wealth," and Pabrai used it to frame an investment approach that seeks asymmetric returns — situations where the potential upside significantly exceeds the potential downside.

The book argued that the principles underlying the Patel community's business success — buying existing businesses at low prices, minimizing fixed costs, and focusing on cash-generating assets — could be applied directly to public market investing. The Dhandho Investor became a popular text in the value investing community and contributed to Pabrai's reputation as a practitioner and teacher of value investing principles.

Views on Indian Markets

Pabrai has also been an active observer of and investor in Indian financial markets. In a 2018 commentary covered by Moneycontrol, Pabrai offered his perspective on India's non-banking financial companies (NBFCs), suggesting they needed to study both Shakespeare's Hamlet and Warren Buffett's writings on risk management, implicitly cautioning about the risks of excessive leverage and poor risk assessment in the Indian financial sector.[15]

Personal Life

Pabrai has been open about the intellectual and personal influences that shaped his career. He has spoken publicly about the impact of his father's entrepreneurial career on his own thinking, describing how watching his father navigate the successes and failures of business ownership instilled in him an understanding of risk, resilience, and the importance of a margin of safety.[5]

He is known within the investing community for his connection to Warren Buffett. Pabrai, along with Guy Spier, famously won a charity auction for a lunch with Buffett in 2007, an event organized by the Glide Foundation. The experience deepened his appreciation for Buffett's investment philosophy and personal approach to life and business.[16]

Pabrai resides in the United States and continues to manage Pabrai Investment Funds while maintaining active involvement in his philanthropic endeavors.

Philanthropy

Dakshana Foundation

Pabrai founded the Dakshana Foundation, a philanthropic organization focused on providing educational opportunities to economically disadvantaged students in India.[2] The foundation identifies talented students from underprivileged backgrounds and provides them with intensive coaching and support to prepare for the entrance examinations to the Indian Institutes of Technology (IITs) and other leading engineering and medical institutions in India. The name "Dakshana" is derived from a Sanskrit word meaning "gift" or "offering to the guru."

The foundation's model is based on the premise that India possesses a large pool of intellectually gifted students who lack the financial resources to access the intensive preparatory coaching that is typically required to gain admission to the IITs — institutions that have produced many of India's leading engineers, scientists, and entrepreneurs. By providing this coaching at no cost to the students, Dakshana seeks to create a pathway for talented individuals from poor families to access elite education and, through it, economic mobility.[17]

The foundation's work has received coverage in Indian media. The Economic Times profiled the Dakshana Foundation's efforts in helping disadvantaged students gain admission to the IITs, highlighting the organization's impact on the lives of students who would otherwise have had little opportunity to access elite education.[18] Time magazine also covered the foundation's work in the context of educational opportunity in India.[19]

Recognition

Pabrai's career as an investor and philanthropist has attracted attention from major business and financial media outlets. BusinessWeek profiled his investment approach and fund structure, highlighting the Buffett-inspired model of his investment partnerships.[8] Time magazine covered both his philanthropic work through the Dakshana Foundation and his notable lunch with Warren Buffett.[19][16]

Within the value investing community, Pabrai has become a recognized figure through his public speaking at investment conferences worldwide, including the European Value Investing Conference, and through his associations with institutions such as the Ben Graham Centre.[10][9] His book The Dhandho Investor has been cited as an accessible introduction to value investing principles and has contributed to his standing as both a practitioner and communicator of the value investing philosophy.[1]

His portfolio activity is closely followed by investors and financial analysts through regulatory 13F filings, and his positions are regularly analyzed and reported by financial data platforms such as GuruFocus and investment-focused media outlets.[13][14]

Legacy

Pabrai's legacy spans both investing and philanthropy. As an investor, he has contributed to the broader dissemination of value investing principles, particularly through his articulation of the "Dhandho" framework, which translated the investment wisdom of Warren Buffett and Benjamin Graham into a practical methodology illustrated with examples from entrepreneurial communities. His emphasis on concentrated portfolios, patience, and asymmetric risk-reward opportunities has influenced a generation of value investors who have studied his public presentations and writings.

His Buffett-modeled fund structure, with its alignment of manager and investor incentives through a no-management-fee, profit-sharing arrangement, has served as an alternative model in an industry often criticized for fee structures that benefit managers regardless of performance.[8]

Through the Dakshana Foundation, Pabrai has created a scalable model for educational philanthropy in India that directly addresses the gap between talent and opportunity in a country where access to elite education often depends on economic resources. The foundation's focus on preparing disadvantaged students for IIT entrance examinations represents a targeted intervention at a critical juncture in the Indian educational system.[2][18]

Pabrai's combination of investment success, intellectual contribution to value investing philosophy, and philanthropic commitment has established him as a notable figure at the intersection of finance and social impact.

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "The Dhandho Investor: The Low-Risk Value Method to High Returns".Wiley.http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047004389X.html.Retrieved 2026-02-24.
  2. ↑ 2.0 2.1 2.2 "About Us — Dakshana Foundation".Dakshana Foundation.https://web.archive.org/web/20111103102207/http://www.dakshana.org/about_us/about_us.asp.Retrieved 2026-02-24.
  3. ↑ 3.0 3.1 "Mohnish Pabrai's Top 5 Positions Represent 100% Of The Total Portfolio".The Acquirer's Multiple.2025-08-31.https://acquirersmultiple.com/2025/08/mohnish-pabrais-top-5-positions-represent-100-of-the-total-portfolio/.Retrieved 2026-02-24.
  4. ↑ 4.0 4.1 4.2 "Mohnish Pabrai's Latest Portfolio: Big Bets on Coal, Energy, and Cyclical Recovery".The Acquirer's Multiple.2026-02-23.https://acquirersmultiple.com/2026/02/mohnish-pabrais-latest-portfolio-big-bets-on-coal-energy-and-cyclical-recovery/.Retrieved 2026-02-24.
  5. ↑ 5.0 5.1 5.2 5.3 "Mohnish Pabrai Bio".UCLA Anderson School of Management.http://www.anderson.ucla.edu/zone/clubs/saba/Bio-MP.html.Retrieved 2026-02-24.
  6. ↑ "Kurt Salmon Associates".Kurt Salmon.http://www.kurtsalmon.com/.Retrieved 2026-02-24.
  7. ↑ "Pabrai Investment Funds".Pabrai Investment Funds.http://www.pabraifunds.com/.Retrieved 2026-02-24.
  8. ↑ 8.0 8.1 8.2 8.3 "Mohnish Pabrai".BusinessWeek.2006-08-21.https://web.archive.org/web/20060820021657/http://www.businessweek.com/magazine/content/06_34/b3998416.htm.Retrieved 2026-02-24.
  9. ↑ 9.0 9.1 "Mohnish Pabrai: Become A Better Investor By Watching Paint Dry".The Acquirer's Multiple.2025-12-10.https://acquirersmultiple.com/2025/12/mohnish-pabrai-become-a-better-investor-by-watching-paint-dry/.Retrieved 2026-02-24.
  10. ↑ 10.0 10.1 "Mohnish Pabrai: "Shut the Brain Off" When You Own A Great Business".The Acquirer's Multiple.2025-11-17.https://acquirersmultiple.com/2025/11/mohnish-pabrai-shut-the-brain-off-when-you-own-a-great-business/.Retrieved 2026-02-24.
  11. ↑ "Mohnish Pabrai: The Holy Grail of Investing".The Acquirer's Multiple.2025-10-20.https://acquirersmultiple.com/2025/10/mohnish-pabrai-the-holy-grail-of-investing/.Retrieved 2026-02-24.
  12. ↑ "Mohnish Pabrai's Strategic Moves: Valaris Ltd Sees a Significant Reduction of -8.79%".Yahoo Finance.2026-02-17.https://finance.yahoo.com/news/mohnish-pabrais-strategic-moves-valaris-140114765.html.Retrieved 2026-02-24.
  13. ↑ 13.0 13.1 "Mohnish Pabrai Portfolio and News".GuruFocus.https://www.gurufocus.com/guru/mohnish%2Bpabrai/summary.Retrieved 2026-02-24.
  14. ↑ 14.0 14.1 "Mohnish Pabrai Portfolio, Holdings, 13F (2026-02-13)".GuruFocus.2026-02-13.https://www.gurufocus.com/guru/mohnish%2Bpabrai/stock-picks?view=table.Retrieved 2026-02-24.
  15. ↑ "Mohnish Pabrai thinks India's NBFCs need to read Hamlet and Buffett".Moneycontrol.2018.https://www.moneycontrol.com/news/business/markets/mohnish-pabrai-thinks-indias-nbfcs-need-to-read-hamlet-and-buffett-3080051.html.Retrieved 2026-02-24.
  16. ↑ 16.0 16.1 "Lunch with Warren Buffett".Time.https://web.archive.org/web/20080701195948/http://www.time.com/time/business/article/0,8599,1819293,00.html.Retrieved 2026-02-24.
  17. ↑ "Letter from Mohnish Pabrai — Dakshana Foundation".Dakshana Foundation.http://www.dakshana.org/about_us/letter%20from.asp.Retrieved 2026-02-24.
  18. ↑ 18.0 18.1 "Dakshana Foundation: Helping the poor to crack IIT".The Economic Times.http://economictimes.indiatimes.com/features/people-places/dakshana-foundation-helping-the-poor-to-crack-iit/articleshow/6016319.cms.Retrieved 2026-02-24.
  19. ↑ 19.0 19.1 "Dakshana Foundation".Time.https://web.archive.org/web/20120113044937/http://www.time.com/time/nation/article/0,8599,2104173,00.html.Retrieved 2026-02-24.

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