MOHNISH PABRAI 00:07
My investors love my fee structure. In fact, if the entire fund invest industry adopted my fee structure the industry will disappear.
So my fee structure which was copied straight from Warren Buffett is there are zero management fees. I don't get paid anything by assets management. The first 6% of returns go to the investors. Above 6%, I get 1/4 and they get 3/4 so if you are up 10% I get 1%.
it's subject to high watermarks. If you're up 5% we get nothing and if we're down we get nothing.
And like I said if the industry adopted that fee structure which I would love them to do, they would just disappear.