Mohnish Pabrai: This will save you 10 years of bad investments

0:00What percentage of Americans who invest in stocks do you believe are good investors?

0:04Well under 1%.

0:05The game we are playing is transfer wealth from the active to the inactive.

0:10If you have that type of a temperament, it is orgasmic activity.

0:15Okay?

0:16If you are even a slightly above average investor, you can't help but get rich over a lifetime.

0:22What's the mistake that smart people are making?

0:24Many people die at 25 and are buried at 75.

0:28I saw Charlie make investments six days before he died.

0:33This is like life advice disguised as investing advice.

0:37Yeah.

0:37Just quick reaction, bullish, bearish on the S ⁇ P index right now.

0:41Bearish.

0:42AI, how do you think about it as an investor?

0:44Invest in the pickaxe makers because the alphabets and metas of the world are playing a game they haven't played before.

0:50So I want to ask you the hardest question, which is.

0:54I feel like I can rule the world.

0:56I know I could be what I want to.

0:59I put my all in it like my days on.