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Buffett Disciple Pabrai 'Very Much a Net Buyer;' Adds to Stakes for Q3
Submitted on 08/15/2008
Mohnish Pabrai, an increasingly well-known value investor in the mold of Warren Buffett, has endured a tough year, but he continues to take the long view. In his Q2 letter to investors in his Pabrai Funds, he wrote "Some exceptional businesses and assets are clearly available at spectacular prices -- well below what a rational intelligent private buyer would pay for these businesses. These market declines generally bode well for net buyers of securities. And Pabrai Funds is very much a net buyer these days." During the quarter, Pabrai's biggest move was to open a new stake in tax preparer Jackson Hewitt .
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