7 investing principles from The Dhandho Investor 

may 11, 2025

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The Dhandho Investor by Mohnish Pabrai teaches readers an investing framework that emphasises low-risk, high-return opportunities to maximise profits. 

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Exploit temporary imbalances by investing in low-risk, high-reward companies to maximise profitability—find distressed companies or special situations. 

Dhandho arbitrage

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Invest in economic moats—companies that have a competitive advantage that protects their profitability. Look for companies with limited downside risk.

Low-risk, high return 

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Invest in existing businesses that are easy to understand and have predictable earnings. Complexity makes you susceptible to risks and errors. 

Simple businesses

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Buy investments at a lower cost than their real value, so you have a buffer, providing you with a cushion in unpredictable situations. This protects your wealth. 

Margin of safety

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Invest in companies that are built on existing concepts and are known to be profitable, rather than investing in businesses that get into something entirely new. 

Existing ideas

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Investing is not for the weak—wait for the perfect opportunities rather than investing impatiently in anything. Rushed decisions often lead to poor outcomes. 

Be patient

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Make fewer but bigger bets when odds are in your favour. Allocate your capital efficiently by using this formula to maximise your long-term growth.

Kelly formula mindset

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