MOHNISH PABRAI 00:08
Yeah, I mean I think that – you know, there are – you know, I give this – I give this talk, I said that you know if let's say you had a 70 IQ and you said that "I wanted the best I can."
So I would said "okay, you know 70 IQ you can buy an index fund." And then someone comes and said "hey you know, I have an 85 IQ I'm better than 70 IQ guy, can you do better – can I do better than that?"
I said "yeah of course, you can do better than that you can buy Berkshire Hathaway stock and just hold it." High probability of doing better than the index.
And then someone said "because I'm 100 IQ, can I do better than the 85 IQ?" And I said "of course you can." And then I said "you know, just read the paper by those two professors and replicate that."
And then someone said "I have 120 IQ." And then I would said "why don't you just do what I'm doing?" And above 120 IQ is useless for investing. (Laughter)
Any other questions? Yeah, go ahead.