Summary of Mohnish Pabrai's The Dhandho Investor , livre audio

Distill Books - Distill Books

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Please note: This audiobook has been created using AI Voice.
Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 The Patels and the Ismailis have been a very entrepreneurial community for centuries, and they came to control a large proportion of the businesses in Uganda. They were expelled from Uganda in 1972, and 70,000 Gujaratis were stripped of virtually all their assets and thrown out of the country.
#2 The first wave of Patel immigrants went into the motel business, because it was heavily dependent on discretionary spending. The recession, along with sky-high gas prices, led to huge drops in occupancy.
#3 The typical Patel is a vegetarian and leads a very simple life. They are busy with the motel day and night, so they have little time for recreational activities. They live comfortably on well under $5,000 per year.
#4 In the 1970s, the minimum wage is just $1. 60. The best Papa and Mama Patel can hope for is total annual earnings of about $6,000 per year if they both take up jobs and work full-time. If they buy a 20-room motel at a distressed price of $50,000 with about $5,000 in cash and the rest financed, the motel will generate about $50,000 in annual revenue.

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