TIP714: Bet Big, Bet Rarely: The Dhandho Investing Playbook w/ Kyle Grieve

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 13 April 2025

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, Kyle Grieve dives deep into Mohnish Pabrai’s The Dhandho Investor, unpacking its nine core principles through vivid case studies and personal reflections to help investors embrace simplicity, asymmetric bets, and the power of cloning proven ideas. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:34 - Why buying an existing business can be a smarter path than starting one from scratch. 11:32 - Profiting from businesses with short-term earnings visibility—and why it matters. 13:07 - The enduring strength and clarity of simple business models. 17:39 - How distressed businesses in troubled industries can become goldmines. 31:46 - Why hidden moats often offer the biggest edge—and how to spot them. 38:08 - The case for concentration: how fewer bets can lead to outsized returns. 50:28 - What modeling Costco reveals about risk, value, and margin of safety. 55:13 - The counterintuitive appeal of low-risk, high-uncertainty investments. 59:13 - How to use the cloning principle to shortcut your search for winners. 01:02:09 - Why your sell strategy should evolve with the quality of the business you own. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here. Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Read The Dhando Investor here. Read The Intelligent Investor by Benjamin Graham here. Read Richer, Wiser, Happier by William Green here. Read The Little Book That Beats the Market by Joel Greenblatt here. Follow Kyle on X and LinkedIn. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining Hardblock AnchorWatch CFI Education Found Fundrise Indeed The Bitcoin Way Vanta Shopify Onramp TurboTax HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TIP.
0:03.0	Monich Pabri has significantly influenced me, ever since I first heard him speak and read his book.
0:09.0	He sailed several incredible multi-beggers while staying humble and admitting his mistakes in a
0:13.0	refreshingly open manner.
0:15.7	So today, I'm excited to discuss one of the best resources I think he ever created, which was
0:20.0	his book, The Dendo Investor. I've always wanted to dive deeper into this book and share some of my biggest
0:25.3	takeaways, so that's exactly what I'll be doing today. We'll examine some of the unique people
0:29.6	that Monash admires for their business acumen and success. One thing I like about Monash is how he
0:34.5	uses his roots in Indian culture to find what we in the West would
0:37.5	consider esoteric investing mentors and influences. We'll examine motels and gas stations and determine
0:43.1	why these seemingly boring businesses have been key to building significant amounts of wealth
0:47.5	for certain people. I'll cover Monish's nine investing core principles, ranging from making big,
0:53.0	concentrated bets on simple, low-risk businesses
0:55.9	to embracing distressed industries and the power of cloning. I'll also share a few areas where
1:00.2	Pabri's thinking has kind of evolved over the years, and a few areas of his investing philosophy
1:04.8	that I tend to diverge from. We'll examine some of his wins and losses after the book's publication,
1:10.3	drawing lessons from each.
1:12.3	One of my favorite parts about Monish is just how simple he makes investing. He's not trying to
1:16.4	complicate investing just to, you know, raise assets under management. I think he genuinely wants to
1:21.5	give back to the investing community and does a lot of work to spread the gospel of value investing.
1:26.0	And I think this episode will help investors of all
1:28.0	experience levels enrich their own investing. So whether you're managing your portfolio or just
	...

Transcript will be available on the free plan in 12 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.