Book Summary: The Dhandho Investor

I won the June Contest at Value Investing News. The prize is a copy of Mohnish Pabrai's new book - "The Dhandho Investor– The Low-Risk Value Method to High Returns". I haven't received the book yet, but I can't wait to read it.

Björn Kijl posts his summary of The Dhandho Investor. It's a good summary. You can read it on GuruFocus or get a pdf version.

I highlight 9 core principles of Dhandho framework :

• Principle # 1: Focus on buying an existing business
• Principle # 2: Invest in simple businesses
• Principle # 3: Invest in distressed businesses
• Principle # 4: Invest in business with durable moats
• Principle # 5: Few bets, big bets, and infrequent bets
• Principle # 6: Fixate on arbitrage
• Principle # 7: Margin of safety – always
• Principle # 8: Invest in low-risk, high-uncertainty businesses
• Principle # 9: Invest in the copycats rather than the innovators