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999 Warren Buffett Quotes - Learn His Secrets of Investing During & After Crisis

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One Up On Wall Street SUMMARY Conclusion Chapter 20 – 50,000 Frenchmen Can Be Wrong

The market, like individual stocks, can move in the opposite direction of the fundamentals over the short term Be optimistic about America and investing in general Market declines are great opportunities to buy stocks in companies that you like You can never predict the market It takes years, not months to produce big results You can make serious money by compounding a series of 20-30 percent gains in Stalwarts Stock prices often move in opposite direction but the long term, the direct and sustainability of profits will prevail Buying a company just because its cheap is a losing strategy Selling an outstanding fast grower because its stock slights overpriced is a losing technique You don’t lose anything by not owning a successful stock Stock doesn’t know that you own it Don’t be attached to a winner Don’t stop monitoring the story If you don’t think you can beat the market then buy a mutual fund Keep an open mind to new ideas Read One Up On Wall Street by Peter Lynch Chapter 19 full su...
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The Dhandho Investor SUMMARY - Chapter 4 Mittal Dhandho

In the 2005 Lakshmi Mittal took the third richest spot. He began his journey same time as Bill Gates. Bill Gates invested in an industry that offers among the highest returns on invested capital. Mittal invested in an industry with terrible economics – steel mills. You have no control over the selling price of finished product and also on the cost of materials. Mittal made it. Mr. Mittal took over a plant in Kazakhstan for nothing and within five years turned it into a thriving business. Also in Romania he applied his secret sauce and run them efficiently. As Mohnish asked his good Marwari friend on how Marwaris approach investing; he replied that they will expect all their invested capital to be returned in the form of dividends in no more than 3 years. Their principle investment continues to be worth at least what they invested in it.

Transtech Dhandho

Mohnish Pabrai had no money when he started his first business. If the business went south and he could declare personal bankruptcy and can start over again. While continuing to work he started TransTech in 1990. Will work at home in the morning from 6:30 AM to 8:30 AM. Goes to work and get back to business in the evening from 6:00 PM to midnight. He resigned when he had a first client and revenues over $200,000 a year. It was a zero risk approach. His expenses were pretty low and no family to worry about. TransTech scaled nicely and in 6 years recognized as an Inc. 500 Company. The business never took outside capital. Cash flows were reinvested. The entire business was sold for several million dollars in 2000. 150 times return over 10 years. Dhandho!

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