The Dhandho Investor: The Low Risk Value Method to High Returns

The Dhandho Investor: The Low Risk Value Method to High Returns

by Mohnish Pabrai
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Overview

The Dhandho Investor: The Low Risk Value Method to High Returns by Mohnish Pabrai

A comprehensive value investing framework for the individual investor

In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Readers will be introduced to important value investing concepts such as "Heads, I win! Tails, I don't lose that much!," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu's dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy-to-use format. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.

Product Details

ISBN-13: 9780470043899
Publisher: Wiley
Publication date: 04/06/2007
Pages: 208
Sales rank: 60,929
Product dimensions: 6.10(w) x 9.10(h) x 1.20(d)

About the Author

Mohnish Pabrai is the Managing Partner of Pabrai Investment Funds, an investment group modeled after the original 1950s Buffett Partnerships. Since its inception in 1999, Pabrai Funds have delivered annualized returns of over 28% (net to investors). He has been favorably profiled by Forbes and Barron's and has made guest appearances on CNBC and Bloomberg TV and Radio.

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The Dhandho Investor: The Low - Risk Value Method to High Returns 4 out of 5 based on 0 ratings. 5 reviews.
Buffett_U More than 1 year ago
This book omits a very much needed fundamental basis within a behavioral economic framework in order to promote its rhetoric. While the author has been a success investing after having started a tech company and redeploying the proceeds in a long-term value approach, (After one Warren E. Buffett), he yet fails to connect the dots between his Dhando approach and that of famed value investors. As a matter of fact, he sites multiple references which are more closely aligned towards an entrepreneur's ambition far more than sound investment principles. Some of which include: Mattels, et. al, and Sir Richard Branson, as well a number of indian immigrants who have parlayed a low cost/ high return policy into wealth by bypassing conventional wisdom and allowing there family to work for sub-par wages in order to secure a healthy profit. This at the end of the eighties savings and loan scandal and during the nineties when real estate was suffering a down cycle. I pressume it is more of a philosophical blueprint to usher ones tendency to be risque' but does little to promote the behavioral aspects outlining investment decisions. Lastly, the author pressumes a hypothetical where as a small time barber opens a barbershop. In town A, their is an oversaturation of barbers, town B is 30 miles away and suffers this same problem. He suggest the person who opened a location in between town A and town B, lets call it town C, inacted a strategic/ competitive advantage by offering hair cuts for a few dollars less in the middle of these two places has a sustained advantage that is likely to be maintained? Thereby applying a Dhando Approach. This is far reaching in my opinion. Many of the persons and stories cited are isolated incidents where the owner enjoyed some advantage for a determinable amount of time. Further, the underlying principle the Dhando framework attempts to put forth is "Heads I win, Tails I don't lose that much." In many ways, this is a watered down speculative blueprint, however in the world of selective contrarian fundamentals, unfortunately the author is never able to close the gap and apply this philosophy to a sound value approach. Atlast, all you have is a cacophony of philosophical discord promoting a philisophical way to uphend risk. Do not read for investment advice, but do read for an expansion of your mental dexterity.
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Guest More than 1 year ago
This a relatively easy read in which Mohnish exposes his investment style in a simple to understand format in which the average investor can learn something. The candor of Monhish is expressed in the easy to understand chapters. Although I beleive he has a high turnover ratio(his investments/investment style) for a disciple of Buffett and Munger. Worthwhile read.
Guest More than 1 year ago
Learn from one of the world's best investors. Mohnish Pabrai is one of the worlds best investors. By running a focused value hedge fund, he has been able to earn astonishingly high returns for many years. This well written and entertaining book presents his investment philosophy and characteristics in a simple and easy to follow manner. A 'must read' for any serious value investor. Ask your money manager if he has read this book. If he has not - then fire him.