From Charlie Munger to Mohnish Pabrai - Check list

I have started using check list. This is a tremondous tool for every value investor. Please look at this slides from Mohnish Pabrai. He is one of my favorite investors.

http://www.slideshare.net/MShareS/how-mohnish-pabrai-uses-checklists-1984991?src=embed

Listen to Charlie Munger on BBC & Random Thoughts

http://news.bbc.co.uk/2/hi/business/8326369.stm


Random Thoughts

- Airlines and Retailing are tough business whether we like it or not. If you look at the history of Warren Buffet, he quickly figured out that Hochschild Kohn is tough business and even investing in airlines does not make sense. Even in India, a lot of investors are going to get burnt due to investing in Retail business and Airlines. It especially bothers me by reading below headlines. This is classic wealth transfer. I hope Mallya realizes there is a lot of structural differences in business economics in Kinfisher beer vs Kinfisher airlines.

"Kingfisher Airlines 2009-2010 Q2 Registers Loss

Last Updated: 2009-10-28T15:24:20+05:30

Private carrier Kingfisher Airlines has registered a net loss of Rs.419 crore for the second quarter of the 2009-10 fiscal which ended Sep 30 against the net loss of Rs.483 crore registered during corresponding period last fiscal.


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Great Post from Kamlesh Pandey - Three Musketeers

You are counting. It's probably 10th time in this hour when you have heard him say “I don't want to lose money”. If it was any other old man you would say "Now shut up and stay away from stocks. If you want to make money, you got to be mentally prepared to lose money. No risk, no gain!"But then you get to know, this is no ordinary old man. He is Walter Schloss, one of The Superinvestor of Graham-and-Doddsville. He produced a 16% total return after fees during five decades as a stand-alone investment manager, versus 10% for the S&P 500.
http://www.unfairvalue.com/2009/05/three-musketeers.html