New Pabrai Interview on Barron's

[karthikpm]

This is what I got from a friend in Boston re: Baupost

 

"A little birdie just told me that their 1983-2008 CAGR was +17.1% vs the S&P +10.1%.  (They actually have three partnerships whose CAGRs were all in the +16.5-19.1% range.). I know they've lagged the market from YE 08, but given the timeframe I'll bet their CAGR is still around +17%."

[RhubarbXIV]

This is what I got from a friend in Boston re: Baupost

 

"A little birdie just told me that their 1983-2008 CAGR was +17.1% vs the S&P +10.1%.  (They actually have three partnerships whose CAGRs were all in the +16.5-19.1% range.). I know they've lagged the market from YE 08, but given the timeframe I'll bet their CAGR is still around +17%."

 

This is consistent with my information. I doubt Klarman (or his LPs) are the least bit restless having underperformed since 2008.

 

Investing responsibly for the long term requires a certain insouciance that comes out of confidence in one's methods and a process-not-results focus. Klarman is the king of that in my opinion.

[Hawks]

Re Pabrai the person and investor: I came to admire and respect him just by reading Spier's book "The Education of a Value Investor". Definately worth a read.

[moody202]

Agree. What got published so probably no more than a quarter of the interview and completely absent of context!

 

One comment on the discussion. Anytime you read an article or interview you are reading something that is curated by the reporter. Very easy for the interview/article to drift from reality of the actual discussion IMO. Try asking a reporter you are talking to let you see or proof read the piece before they publish it most will never do this. Something to keep in mind.