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"How to invest the way an Indian migrant with little money would do - by looking for companies with little downside…" (Financial Times, Tues 26th February)
All investors are told that if you want to earn high rates of returns, you must take on greater risk. Of course, the groundbreaking value investing strategies of Benjamin Graham, Warren Buffett, and Charlie Munger have shown that it is indeed possible to keep risk to a minimum while still making a reasonable profit. The Dhandho method takes their successful approach to investing one step further and shows how you can actually maximize rewards while minimizing risk.
Dhandho (pronounced dhun-doe), literally translated, means "endeavors that create wealth." In The Dhandho Investor, Mohnish Pabrai demonstrates how the powerful Dhandho capital allocation framework of India's business-savvy Patels can be successfully applied and replicated by individual value investors in the stock market. The Patels, a small ethnic group from India, first began arriving in the United States in the 1970s as refugees with little education or capital. Today, they own over $40 billion in motel assets in the United States, pay over $725 million a year in taxes, and employ nearly a million people. How did this small, impoverished group come out of nowhere and end up accumulating such vast resources? The answer lies in their low-risk, high-return approach to business: Dhandho. This book will show you how to use that same technique to generate high returns in the stock market.
Pabrai's hedge funds, Pabrai Investment Funds, have outperformed all of the major indices and over 99% of other managed funds. $100,000 invested with Pabrai in 1999 was worth over $659,000 by 2006an annualized return of over 28% after all fees and expenses. In this book, Pabrai distills the methods of Buffett, Graham, and Munger into a user-friendly approach applicable to individual investors. Combining their legendary investing wisdom with the business acumen of the Patels, Pabrai lays out the Dhandho framework in an easy-to-use format that will help any investor significantly improve on their results and soundly beat the marketsas well as most professionals.
Pabrai also details each deceptively simple Dhandho concept in a straightforward, entertaining fashion, with individual chapters that explain why you should: Invest in Simple Businesses, Fixate on Arbitrage, Invest in the Copy Cats Rather than the Innovators, and other simple but proven concepts for low-risk, high-reward Dhandho investing.
Pabrai describes his fine investing record in an actionable way. Too many books in this field focus on the arc of a career rather than the fundamentals. Read morePublished 3 days ago by N. Mulcahy
This is a very simple and straight-forward approach to Value Investing. It would have been helpful if the author explained the calculations of the various tables he used as... Read morePublished 7 days ago by shriram51
The book details a good framework for the individual investor with great examples.
It also gives leads to the kind of investing behaviours and skills that are needed to... Read more
Easy read, entertaining, interesting insight into success of groupthink and how to use that success toward your own.Published 1 month ago by Thomas Bradley
This is an exceptional Book on investing. It has a wealth on knowledge and explains
the investment models that Mr. Read more
Good book. Basically follows ideas if Graham & Buffett....but puts it into a easier format. Gives some helpful research tools.Published 5 months ago by John Mathew
Great practical guide to investing with excellent tips and resources given. Focused on the beginning to intermediate investor. Highly recommendedPublished 5 months ago by Manuel Bartlett
This book will leave you aspiring to apply the Dhandho Framework while schooling you in thinking like a Dhandho investor through the groundbreaking principles and lessons learnt by... Read morePublished 5 months ago by Gavin Rabbolini
Interesting, easy read with lots of excellent information. A must read for a value investor. First there was the Intelligent Investor, then came Warren Buffett and now The... Read morePublished 7 months ago by Rahil Bhorania