This letter got delayed as I was travelling a bit.
I chanced upon an impromptu meeting with Pabrai. He was very generous with his time and thoughts. Got to see very closely the way he thinks about investments - the underlying question every time while discussing investment ideas was - how much growth can be expected in 5 years and what are its components?
This was followed up by discussion on finding solutions to create do-good societal institutions which can run sustainably, with minimal capital inputs.
He mentioned about Dr V of Aarvind Eye Care - how the doctor created a sustainable charitable and super efficient eye care hospital at low costs. Read Infinite Vision.
We also discussed Dakshna's effort in giving free education, followed by 78-year-young and super energetic Col Ram Sharma of Dakshna travelling with me to study the education model of Baba Aya Singh college, near Amritsar and how it can be cloned. If you haven't seen documentary on college by Ravish of NDTV, please see here - link.
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The run of last few years should be taken with a pinch of salt - it was a good period in markets where everything has done well. The future will not be all butterflies and sunshine.
Many sectors in economy are limping, as they should, due to change in technology/other reasons. Unemployment is going to be rule, rather than exception. If we are not mentally preparing for such a environment, it may come as a shock. Mentally, this calls for disengaging from the game of chasing money beyond one's requirements, but understanding the capitalistic systems well and participating in it intelligently. And building local communities, neighborhood support groups, building local help/bartering/business groups around you. You may like to read - Beautiful Business.
Do beautiful business.
I chanced upon an impromptu meeting with Pabrai. He was very generous with his time and thoughts. Got to see very closely the way he thinks about investments - the underlying question every time while discussing investment ideas was - how much growth can be expected in 5 years and what are its components?
This was followed up by discussion on finding solutions to create do-good societal institutions which can run sustainably, with minimal capital inputs.
He mentioned about Dr V of Aarvind Eye Care - how the doctor created a sustainable charitable and super efficient eye care hospital at low costs. Read Infinite Vision.
We also discussed Dakshna's effort in giving free education, followed by 78-year-young and super energetic Col Ram Sharma of Dakshna travelling with me to study the education model of Baba Aya Singh college, near Amritsar and how it can be cloned. If you haven't seen documentary on college by Ravish of NDTV, please see here - link.
--
The run of last few years should be taken with a pinch of salt - it was a good period in markets where everything has done well. The future will not be all butterflies and sunshine.
Many sectors in economy are limping, as they should, due to change in technology/other reasons. Unemployment is going to be rule, rather than exception. If we are not mentally preparing for such a environment, it may come as a shock. Mentally, this calls for disengaging from the game of chasing money beyond one's requirements, but understanding the capitalistic systems well and participating in it intelligently. And building local communities, neighborhood support groups, building local help/bartering/business groups around you. You may like to read - Beautiful Business.
Do beautiful business.
