Meeting Mohnish Pabrai

Insights from the Pabrai Funds Partners’ Meeting

ChatGPT

The story that encapsulated some of our thoughts over the summer has been ChatGPT.

Given the attention this has received in the media and the consequential discussions that involve many of our compounders including Google, Microsoft, and Meta, we thought it was worth investigating what…

Coffee can stocks

After finishing the book 100 Baggers, by Christopher Mayer, (a fantastic read btw), Simon posed the question to me, “what would be your coffee can stock to hold for 10 years without looking at it?”

Show us your (long-term) track record

Beware of the hyped-up anything.

Serial acquirers

This month we’ve invested in a serial acquirer, and have started researching another. We will refrain from publicly revealing the names as we build our position, but we are excited.

Serial acquirers are companies that purchase and hold businesses for the long-term…

Buyer Beware

The stock market has a long way to fall

BITCOIN BY MUNGER

‘Give a lot of things a wide berth’

Forecasting is Guessing

Be wary of analysts claiming a genius ability to predict the future

Mainfreight AGM — Ready Fire Aim

Reading our previous ramblings, it would be of no surprise that we love founder led businesses.

Historical data will show that they often perform better, and it’s not hard to draw inferences as to why. Long-term perspective, greater commitment…

Litigation Capital Management settles Australian class action

LCM announced another case win during the month, this time totaling A$132m. While it hasn’t been announced what proportion of the claim LCM will receive, we estimate it to be around ~A$20m. For context, LCM’s revenue for…