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Pabrai’s excuse

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Mohnish Pabrai Office Tour

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CoatTailing

Portfolio of Mohnish Pabrai in India

This post is in continuation of my coat tailing series (see here)

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Mohnish Pabrai is a well known investor who invests using value investing principles.

His significant holdings in India as on 30 Sept,2014 as per Stock Exchanges is given below:

Entity # of Shares % Symbol Date End
THE PABRAI INVESTMENT FUND IV LP 7571950 1.56 J&KBANK 201409
PABRAI INVESTMENT FUND 3 LTD 4860610 1 J&KBANK 201409
THE PABRAI INVESTMENT FUND II LP 993558 1.85 GICHSGFIN 201409
THE PABRAI INVESTMENT FUND IV,LP 27606634 2.05 SOUTHBANK 201409
PABRAI INVESTMENT FUND 3 LTD 17193578 1.28 SOUTHBANK 201409
THE PABRAI INVESTMENT FUND II, LP 15199788 1.13 SOUTHBANK 201409
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Excerpts Interview

Why has Mohnish Pabrai started investing in India?

(Q) Why change of heart on India ? 

Note : This question was in relation to Mohnish’s recent investments in India, which had avoided thus far.

(A)I had stayed away from India as most of the companies tend to be family owned and lots of them have governance issues and hence we didn’t prefer to invest in family controlled businesses.However, we found few opportunities this year, which fit our criteria. One of them is The South Indian Bank.

Why South Indian Bank –

  • Unlike west or U.S it’s hard to get a banking license in India

  • 60% of the country still don’t have a bank account

  • Growing middle class are embracing banking and opening bank accounts

  • It’s not a family owned business -from BitsBusiness

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Video

Mohnish Pabrai Presentation on Compounding