A renowned investor who grew up in some of the most poor conditions in India is now worth over one hundred million dollars. Although he started out late in life at the age of thirty investing he has made the most of it. At that age he heard of Warren Buffet for the first time and was intrigued by what he had accomplished. In this article this investor offers some insight into investing and advice for those considering how serious investing should be for them.
Key Takeaways:
- Mohnish Pabrai says the way to be a successful investor is to invest with the seriousness and professionalism of a businessman.
- Pabrai says it is better to invest in undervalued but stable industries, rather than in ones with high uncertainty.
- Pabrai says patiently waiting for the right time to buy or sell stocks is critical to success in investing.
“Fortunately, you don’t have to cough up 6 figures to learn. You can read, think about, and apply the words of other people who have successfully done what you’d like to do.”
Read more: http://www.businessinsider.com/3-pieces-of-advice-from-value-investor-mohnish-pabrai-2017-10