Collection: Mohnish Pabrai - #86 'The Single Most Important Investing Skill'



[Transcript]

MOHNISH PABRAI 00:00

I think mistakes are part of the investment landscape, you know, Warren and Charlie both try to spend a lot of time reducing mistakes.


And that's a good place to spend your time. But they also spend a lot of time on, you know, great moats and thing that they don't have touch, for a long time. So the best thing you can do, the single greatest I would say skillset you can bring to bear as an investor is patience. You know, extreme patience.


If you are a guy or girl who loves to watch paint dry. You will be a great investor. And Arvind does your class love to watch paint dry? How many people love to watch paint dry? Please raise your hand.


We got one paint dryer out there man! And I also want to let you know Arvind that I did not get the memo about the coat and tie. Next time, please send the memo. I don't think your class got that memo either. (Laughter)


ARVIND NAVARATNAM 01:16

I was saying the next – never mind. (Laughter)


(Source: https://youtu.be/7F2IGzES7Uc)

 

[YAPSS Takeaway]

Not just patience but extreme patience.😂

Fidelity’s Best Investors Are Dead: https://theconservativeincomeinvestor.com/fidelitys-best-investors-are-dead/