THE DHANDHO INVESTOR - (मारवाड़ी Marwadi Business Secrets रहस्य)
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If you look at the list of richest Indian, you'll realize that most of the spots are covered by people from one community, that is Marwadi/Marwari or Gujrati.
Hence, most people want to know the secrets of business and investing that Marwadi people follow.
What are Marwadi Business & Investing Secrets मारवाड़ी व्यापार और निवेश रहस्य ? Marwadi ke Vyapar aur Nivesh ke Rahasya kya hai?
Hence, I present the secrets of marwadi with the help of this book called The Dhandho Investor.
The core principle of Dhandho Investing is to choose opportunities that have a minimal downside and a huge upside. Over the due course of the book, this principle keeps repeating in the form of, “Heads I win, tails I don’t lose much”. Without any further delay, Let’s get started.
The Dhandho Framework by Mohnish Pabrai that marwadi investors use to get rich from stock market
Secret 1: Buy Existing businesses
We all know starting something from grounds up is a huge effort.
Chances you’re not making a penny before the 3rd or 4th year kicks in.
So as an investor, it makes sense by buy businesses that are already staffed, which is already having a sales channel established and business model figured out.
Where can you buy such businesses? In the stock market. Although you can’t buy complete businesses a part of them in the form of a share.
A share is a piece/unit of the business that is entitled to all the profits the business makes in the appropriate ratio.
Secret 2: Focus on buying Simple businesses with an ultra-slow rate of change
Simple business, the author means the ones where you can estimate how the business is gonna run in the near future.
So as to be able to predict how the cashflow would be and in turn calculate the intrinsic value.
While that makes sense, I don’t completely agree with the remarks on the rate of change.
In this time and age, technology is disrupting each and every sector.
So we need to be cognizant of the fact that businesses are going to change.
Rule #3: Bet heavily when the odds are in your favor
I think this rule is applicable to a lot of things in life.
When you love something, give it all you can.
So, when you find a distressed business with a durable competitive advantage, bet heavily.
Mr. Pabrai suggests using the Kelly Formula. This formula helps to determine how much of your cash you should bet on this business.
