Parsad Posted January 16, 2014 Posted January 16, 2014 Mohnish is in advanced talks to close a purchase of a private insurer according to his latest letter. After the initial financing of about $32M, Pabrai Funds will also put in about $70M+. This is going to get very interesting! Sorry, I cannot post the letter. Cheers!
alertmeipp Posted January 16, 2014 Posted January 16, 2014 Mohnish is in advanced talks to close a purchase of a private insurer according to his latest letter. After the initial financing of about $32M, Pabrai Funds will also put in about $70M+. This is going to get very interesting! Sorry, I cannot post the letter. Cheers! When is your turn?
argonaut Posted January 16, 2014 Posted January 16, 2014 yes, from what I read, his intent will be to take it public.
Parsad Posted January 16, 2014 Author Posted January 16, 2014 Intent is to take it public in 2015. Will buy both marketable securities and private businesses. Friendly, not activist. Initially will raise about $35M to acquire the insurer and add about $30M in surplus capital. Has run zero-cost float for a long-time. He and his family will put in at least $9M. Cheers!
Parsad Posted January 16, 2014 Author Posted January 16, 2014 Mohnish is in advanced talks to close a purchase of a private insurer according to his latest letter. After the initial financing of about $32M, Pabrai Funds will also put in about $70M+. This is going to get very interesting! Sorry, I cannot post the letter. Cheers! When is your turn? Maybe 2014 or 2015. No intent on getting involved with insurance, at least not in the early years. Just a public company that will acquire both marketable securities and small private businesses. Like Mohnish, will run congruent to MPIC Funds. Cheers!
AJB96 Posted January 16, 2014 Posted January 16, 2014 This is very interesting. Thanks for sharing Parsad. I'm looking forward to buying shares in his company. Alex
Liberty Posted January 16, 2014 Posted January 16, 2014 Interesting developments, thanks for sharing!
eclecticvalue Posted January 16, 2014 Posted January 16, 2014 I was wondering what the Dhando Holdings title was all about, but since reading this thread I am excited about this opportunity. Mohnish is copying buffett every way possible. Since he never was able to work at Berkshire why not build one himself.
jay21 Posted January 16, 2014 Posted January 16, 2014 Very interesting. Good luck Mohnish! I bet he could raise another few $M just from this board.
augustabound Posted January 16, 2014 Posted January 16, 2014 If the prospectus shows a "Vice Chairman" and his name is Charlie I'm putting every penny I own into it. ;D
giofranchi Posted January 16, 2014 Posted January 16, 2014 Very interesting! :) Thank you, Sanjeev, for letting us know. And, please, keep us informed on future developments. Cheers, Gio
oddballstocks Posted January 16, 2014 Posted January 16, 2014 Best of luck to him. An observation I've had. Business owners who've started their own companies and grown them talk about the day they can sit back and just invest the money without operating a thing. Investors/asset managers talk blissfully about the day they get to run a business and not just sit back and invest. The grass is always greener!
Kraven Posted January 16, 2014 Posted January 16, 2014 Very interesting. I didn't realize Pabrai had a background in insurance. It's a tough business. Best of luck to him.
Parsad Posted January 16, 2014 Author Posted January 16, 2014 If the prospectus shows a "Vice Chairman" and his name is Charlie I'm putting every penny I own into it. ;D I have an inkling that if that Vice Chairman title has anyone on it, it will probably be somebody whose name ends with "Spiers". It would only make sense. Cheers!
ERICOPOLY Posted January 16, 2014 Posted January 16, 2014 If the prospectus shows a "Vice Chairman" and his name is Charlie I'm putting every penny I own into it. ;D I have an inkling that if that Vice Chairman title has anyone on it, it will probably be somebody whose name ends with "Spiers". It would only make sense. Cheers! Instead of saying "I have nothing to add to that", she can just say: "yeah, yeah, yeah, yeah, yeah" "yeah, yeah, yeah, yeah, yeah"
Valuebo Posted January 16, 2014 Posted January 16, 2014 That's good news. :) Pabrai and others have plenty of popularity now with value investors all over the place. Good move. By going the public route they will have cheap access to permanent market capital as investors fight over their piece of stock.
obtuse_investor Posted January 16, 2014 Posted January 16, 2014 If the prospectus shows a "Vice Chairman" and his name is Charlie I'm putting every penny I own into it. ;D I have an inkling that if that Vice Chairman title has anyone on it, it will probably be somebody whose name ends with "Spiers". It would only make sense. Cheers! Instead of saying "I have nothing to add to that", she can just say: "yeah, yeah, yeah, yeah, yeah" "yeah, yeah, yeah, yeah, yeah" Haha! I think he meant "Spier"; specifically this Spier:
augustabound Posted January 16, 2014 Posted January 16, 2014 If the prospectus shows a "Vice Chairman" and his name is Charlie I'm putting every penny I own into it. ;D I have an inkling that if that Vice Chairman title has anyone on it, it will probably be somebody whose name ends with "Spiers". It would only make sense. Cheers! I'm still in. ;D
Parsad Posted January 16, 2014 Author Posted January 16, 2014 If the prospectus shows a "Vice Chairman" and his name is Charlie I'm putting every penny I own into it. ;D I have an inkling that if that Vice Chairman title has anyone on it, it will probably be somebody whose name ends with "Spiers". It would only make sense. Cheers! Instead of saying "I have nothing to add to that", she can just say: "yeah, yeah, yeah, yeah, yeah" "yeah, yeah, yeah, yeah, yeah" Not Brittney...Guy Spiers! Sheesh!
Ian L Posted January 16, 2014 Posted January 16, 2014 Do you happen to know if he will be compensated by salary or by taking a share of the profits by investing the float in his funds?
Parsad Posted January 16, 2014 Author Posted January 16, 2014 That's good news. :) Pabrai and others have plenty of popularity now with value investors all over the place. Good move. By going the public route they will have cheap access to permanent market capital as investors fight over their piece of stock. Also, initially it looks like Dhandho will be capitalized with about $150-200M, so alot of smaller companies targeted by activists, may decide that Pabrai is their Indian knight! Cheers!
Parsad Posted January 16, 2014 Author Posted January 16, 2014 Do you happen to know if he will be compensated by salary or by taking a share of the profits by investing the float in his funds? Good question. Once I read the offering documents, I'll be able to let you know. Cheers!
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now