5 Key Things Learned From Lunches With Buffett & Munger

Posted by Mohnish Pabrai

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UnknownSuper hedge fund manager Mohnish Pabrai has been lucky enough to have chances in person to tap into the wisdom of Charlie Munger and Warren Buffett.

From his conversations Pabrai learned five key things.

From Munger:

1. Follow other top notch investors; study what they are doing and why they are doing it.
2. Focus carefully on companies that are aggressively buying back their own stock.
3. Pay attention to spin-offs for opportunities.

From Buffett:

1. Patience.
2. Smart investors don’t need leverage, bad investors shouldn’t use it.

Enjoy the video!