Friday, May 20, 2016

Dalal Street: Mohnish Pabrai Q1 2016


Dalal Street, Mohnish Pabrai, imaginary

Extreme activity from Mr. Pabrai even though he was forced to some of it which I am sure that he is not happy about.

For the previous summary please visit Dalal Street: Mohnish Pabrai Q4 2015.

The new holdings were:

Ferrari - An Italian origin car producer that were spun-off from Fiat Chrysler not that long ago.

Seritage - An American REIT.


Dalal Street, Mohnish Pabrai, holdings, Q1 2016


Conclusion: Horsehead is "out" because they went bust or as close as one can get... I am still amazed that this happened and I would love to find out more how this could happen. Due to an interview that I saw with Mr. Spiers he claimed it come from him NOT evaluating the investments as time was passing and that he has now implemented this procedure... the question is if it was the same reason for Mr. Pabrai... 

Source: SEC

4 comments:

valuetradeblog said...

Hi,

the Horsehead/ZINC case is one of the most interesting this year. You definitely know what the other is.


kind regards/ Grüße
valuetradblog

Anonymous said...

Yeah Valeant and Horsehead are well known... I would like to add Posco to that list... Many of the investors have been in that company and the development had been poor.

Fredrik von Oberhausen

valuetradeblog said...

Even Charlie Munger liked, and I guess still likes, Posco.

Fredrik von Oberhausen said...

Yes, Berkshire had a large holding in Posco but they stepped out some time ago. I assume they stepped out when they realised that the prices for steel would take much longer to recover than what they had initially expected.