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Collection: Mohnish Pabrai - #101 'Cloning International Investments'


Video Link: https://youtu.be/hhk5LsMPIWw


In this episode, Mohnish Pabrai was asked how does he clone international investments given that there are no 13-Fs?


In this episode, you’ll learn:

  • How does Mohnish Pabrai clone international investments in India, Korea and China?

To check out all Collection: Mohnish Pabrai <click here>

 

[Transcript]

(Source: https://youtu.be/IOoaNYQHaYY)

ARVIND NAVARATNAM 00:00

Maybe I'll start an interim, Mohnish. Which is, you know, you talk a lot about cloning in terms of 13-F in the light. How do you go about cloning international investments? Given that there are no 13-Fs for some of the areas that you traffic in.


MOHNISH PABRAI 00:21

Yeah, the international investments you can get a little bit of that through Bloomberg. So it's not for Joe Public because Joe Public will have a little harder time. But – Actually not even Bloomberg.


The thing is that if you, you know, if you go to a website in India, like Moneycontrol, which is, you know, like Google Finance if you will. And India require the brokers to disclose anyone who owns more than 1% of a public company. So the companies don't have to make a disclosure till they own 5% or something, but the brokers do. And so if you look at a specific company, you can see who the shareholders are.


And there are some service providers and you know, kind of data scraper who – Like, I think I subscribe to one, I think it's called Alpha Ideas in India, which basically figures out who owns more than 1% of these different companies and they update that once a quarter. So I can see some of that. Bloomberg also, like, for example, if I look at a Korean company in Bloomberg, it'll show me the shareholders.


And again, it's not as easy as a 13-F in the US, but I think some of it you can get that way, but it's not the easiest thing in the world. I have found investments in places like Korea which are owned by some investors I really admire a lot. And in China and such, through that process so it does work.

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