A Quote by Mohnish Pabrai
The stock knows that I bought it, and it decides, 'Mohnish is done. Now let's go down.'
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What's the best gamble in the world, right now? Its betting that Deutsche Bank stock is going to go down. Short sellers borrowed money from their banks to place bets that Deutsche Bank stock is going to go down. Now, it's wringing its hands and saying, "Oh the speculators are killing us." But it's Deutsche Bank and the other banks that are providing the money to the speculators to bet on credit.
In my business investing, you are buying a stock, and someone else is selling the stock. Right there, that's like a debate. Is the stock going up, or is it going to go down?
A broker who discovers an undervalued stock does not advertise it until he has bought a large enough quantity without letting the price go up. When the brokers' connection with a stock becomes public knowledge, it is usually a sure sign of manipulation and that the broker is seeking to drive up the price.
When I wanted to go away to college in Toronto, my dad said, 'You can't go.' When I got to Toronto, I bought a couch, and my dad cried for the whole weekend because, as my mum told me, 'Now you have furniture; he knows you are never coming back.'
The aggregate capital appears as the capital stock of all individual capitalists combined. This joint stock company has in common with many other stock companies that everyone knows what he puts in, but not what he will get out of it.
In the history of a soul’s evolution there is a critical point of the human incarnation that decides for us whether we stay there, go down or progress upwards. There is a knot of worldly desires impeding us; cut the knot by mastering desires and go forward. This done, progress is assured.
If a lot of people feel like this company is undervalued and go out and buy the stock, the stock price will go up reflecting the higher value of this company. You might have information because you trade with them or because you've done some research on them.
What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half.
Successful investors like stocks better when they’re going down. When you go to a department store or a supermarket, you like to buy merchandise on sale, but it doesn’t work that way in the stock market. In the stock market, people panic when stocks are going down, so they like them less when they should like them more. When prices go down, you shouldn’t panic, but it’s hard to control your emotions when you’re overextended, when you see your net worth drop in half and you worry that you won’t have enough money to pay for your kids’ college.
I particularly remember the time I gave (the research director) my paper on the banking industry. I felt very proud of my work. However, he read through it and said, 'This is useless. What makes the stock go up and down?' That comment acted as a spur. Thereafter, I focused my analysis on seeking to identify the factors that were strongly correlated to a stock's price movement as opposed to looking at all the fundamentals. Frankly, even today, many analysts still don't know what makes their particular stocks go up and down.
Insider trading is hard to prove. To be convicted, a person must have bought or sold a stock based on material information that is both unknown to the general public and likely to have had an important effect on a company's stock price.
I know how stupid people can be. I've played in front of 5,000 people that bought a ticket to my concert, and some guy who's bought a ticket decides he's going to throw a bottle at my head. That's a simple act of stupidity. That's not even defiance.
Now let me teach you another thing about my daughter. I love her very much but she has the ability to hide as expertly as a sock in a washing machine. No one knows where it goes, just as no one knows where she goes, but at least when she decides to come back, we're all here, waiting for her.
I thought the stock was a great buy. I think anybody that bought the stock in 1999 was - saw over the next couple of years a strong growth. During the year of 1999, I significantly increased my ownership of shares in the company.
Methinks, that a broker, however good and savvy, will only speak about the stock that interest him after he has bought enough of shares already and is now in the process of booking profits.
If tomorrow the good Lord decides that's my last day, then I'm not going to go down with a frown. I'm going down with a smile on my face, knowing that I've gotten everything out of life.
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