Mohnish Pabrai&#x27;s Interview with Kim Kiho at Knowledge Inside podcast on June 8, 2026. (00:00:00) - Introduction (00:01:44) - Lunch with Warren Buffett vs. Eric Schmidt; Introduction to Charlie Munger (00:11:47) - Impact of declining population of South Korea; SK Hynix, Samsung &amp; Micron (00:17:19) - KOSPI (00:17:57) - My Investment checklist - an inspiration from the FAA; Buffett&#x27;s Dexter Shoes investment (00:25:27) - Three most important items in a checklist; IKEA &amp; Amorepacific (00:31:19) - Active vs. Passive investing; Look for risk-free investments (00:35:10) - Investing in Turkey; Reysas (00:39:24) - The Dhandho investing: Heads I win, Tails I do not lose much (00:41:20) - Investing in AI; Do not buy shiny items (00:43:39) - How to build wealth; The Rule of 72 &amp; The Manhattan island deal in 1623 (00:50:24) - Giving back; The Dakshana Foundation (00:53:52) - Advice to listeners The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

Mohnish Pabrai's Interview with Knowledge Inside podcast on June 8, 2026

Chai with Pabrai

# Full Transcript

**Podcast:** Chai with Pabrai

## Transcript

Contents of this podcast are for educational and entertainment purposes only and do not purport to be in or not intended to be financial, legal, accounting, tax, or investment advice. Investments and strategies that are discussed may not be suitable for you. Do not take into account your particular investing objectives, financial situation, or needs that are not intended to provide investment advice or recommendations appropriate for you. Before making any investment trade, consider whether it's suitable for you and consider seeking advice from your own financial investment advisor. Hello and welcome to our show. Thank you so much. It's my pleasure to be here. Oh, the pleasures are all ours. Would you like to say a quick hello to our viewers before we start? Hello. Good to be here.

Okay. Tell us a little bit about you and what you do. Well, I'm a money manager. I manage about $1.4 billion, mainly in publicly traded equities around the world. And I do it, you know, in a combination of private hedge funds and an ETF. And I've been doing this for about 28 years. It's time has gone by very fast because it's my passion. So I don't even think I'm doing work.

I follow Warren Buffett and Charlie Munger's approach to investing, which generally means that we think of stocks as portions of businesses. We don't think of them as pieces of paper. And when we are going to buy a stock, we approach it as if we were going to buy the whole company. And so we're basically looking for investments that we can hold ideally forever. Forever.

Forever. Anytime we have to sell something, we have made a mistake. And let me go one step further. Anytime most market participants are selling anything, they have made a mistake. So we have to really keep it for the long run, right? According to your philosophies. Okay, so you are a very well-known value investor. Let's start with talking about that famous lunch, since you mentioned Warren Buffett.

You won that lunch at an annual charity auction for $650K, which is a lot of money, which was the record at the time. Looking back, was it worth every penny? Yeah, the lunch, from my point of view, was one of the best deals ever. It was a true bargain. It was a bargain? It was a bargain. When you look back now for what transpired after that, Warren has stopped doing these lunches.

He was doing one of these lunches every year. The last year when he did the lunch, it went for more than $26 million, which was, I think, two, three years ago. And so our $650,000 bid was a very small portion of that. So that was pretty good. And the second reason it was a bargain, and even the reason why I was interested in bidding for it and having lunch with Mr. Buffett, was for a couple of reasons.

If we were alive in the time of Gandhi or Newton or Einstein or any other luminaries who have come before us, Churchill and so on, and if we had a chance to sit down and have lunch with them,...

Mohnish Pabrai's Interview with Knowledge Inside podcast on June 8, 2026

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Mohnish Pabrai's Interview with Knowledge Inside podcast on June 8, 2026

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.