Mohnish Pabrai (gr8 insights)
Interviewer-Question: You humbly call yourself a "cloner" of other fund managers. How can we learn to follow Buffett and Munger's footsteps?
Pabrai: "Warren and Charlie have been very generous as they have shared a lot of their wisdom in the public domain. The first question for people that want to follow the footsteps of Warren and Charlie is are you wired for it? The psychological template of who you are as a person is determined by genetics and early childhood experiences, which cannot be easily changed. If you are wired to be a high-speed trader, you are probably not going to be happy with Warren and Charlie's style of investing. Figuring this out is not easy as it takes effort to evaluate the choices of how you spend your time and the amount of satisfaction you get from doing certain activities. Warren and Charlie have an intense passion for reading and learning new things. If that is also a part of your intrinsic personality, then you are on the right path of following Warren and Charlie. It is not a path for everyone, but people can certainly pick up great habits to align with their approach."