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Mohnish Pabrai: Build a munger mindset

In an interview with Morningstar India, Mohnish Pabrai discusses Charlie Munger’s philosophy of focusing on continuous improvement and not dwelling on past performance. They talk about the friendship with both Munger and Buffett, how Pabrai handled the financial crisis, and more.

So what I found is that all of his [Munger’s] energies were focused on taking the next step forward. And they were not focused on looking back and saying wow that’s… I’ve covered a lot of distance behind me.

Anyone else looking at Charlie would say forget what’s in front of you, the daily General CEO, or whatever else, or Berkshire’s money, you dropped it today it’s fine the history is so impressive, but that’s not how he thought.

And that’s also not how Warren Buffett thinks. So I try to learn from that. So used to be like a lot of other what is normal for humans is we look back, we did well at school, or we did well in a business, or we did well at my investment fund or whatever else.

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