Jump to content

Pabrai gets concentrated


Evolveus
 Share

Recommended Posts

Pabrai goes with a 6 position portfolio and 66% in financials.

 

http://www.dataroma.com/m/holdings.php?m=PI

 

After 2009, he had spoke about position sizing and taking smaller bets than what he had done in the past, yet this appears to be even more concentrated than before.  I guess that speaks to his conviction in the picks as well as his feelings about the overall/macro stability of markets.  I also assume that he has earned a great deal of respect from his investors (rightfully so) for them to feel comfortable with that type of positioning.

Link to comment
Share on other sites

That's a good point...his overseas positions are not reflected there.  I read his 2011 letter to investors where he spoke about some of his Japanese based holdings.  I should have thought of that - thanks for pointing it out!  I don't know/think he does anything with debt related securities, does he?  I know that is one of John Malone's tools to fly under the radar with building positions like he did with Sirius.

Link to comment
Share on other sites

doesn't the dataroma neglect some of his other positions (leading to inflated indications of concentration)?

 

He's got about $500M in AUM, and Dataroma only shows $240M, so while he's more concentrated than in the recent past, it isn't as concentrated as Dataroma would have you believe.  I'm glad he's gone back to more of the 10X10 structure...more volatile, but it will work better over the long-run.  Cheers!

Link to comment
Share on other sites

doesn't the dataroma neglect some of his other positions (leading to inflated indications of concentration)?

 

He's got about $500M in AUM, and Dataroma only shows $240M, so while he's more concentrated than in the recent past, it isn't as concentrated as Dataroma would have you believe.  I'm glad he's gone back to more of the 10X10 structure...more volatile, but it will work better over the long-run.  Cheers!

 

What's a 10x10 structure?

Link to comment
Share on other sites

doesn't the dataroma neglect some of his other positions (leading to inflated indications of concentration)?

 

He's got about $500M in AUM, and Dataroma only shows $240M, so while he's more concentrated than in the recent past, it isn't as concentrated as Dataroma would have you believe.  I'm glad he's gone back to more of the 10X10 structure...more volatile, but it will work better over the long-run.  Cheers!

 

What's a 10x10 structure?

 

10% positions each in 10 securities I assume

Link to comment
Share on other sites

10% positions in 10 securities I assume?

doesn't the dataroma neglect some of his other positions (leading to inflated indications of concentration)?

 

He's got about $500M in AUM, and Dataroma only shows $240M, so while he's more concentrated than in the recent past, it isn't as concentrated as Dataroma would have you believe.  I'm glad he's gone back to more of the 10X10 structure...more volatile, but it will work better over the long-run.  Cheers!

 

What's a 10x10 structure?

 

10% positions each in 10 securities I assume

 

Ohh, duh! Thanks!  :P

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...