Dhandho Investor

I just read the Dhandho Investor. Excellent book, I would strongly recommend it. Probably my biggest takeaway is to have more courage in my investments. Pabrai argues that when you see an excellent value that you should "bet big". I won't go into detail, but I have certainly had some instances in my investing where I was pretty darned sure that I would do well. But I have always hesitated "betting big" and put down my standard investment in the name of diversification. Another key takeaway was his discussion of investing in the more mundane/predictible companies. He argues that high tech companies see things changing quickly, so a moat can dissipate quickly. Probably good advice.

I will likely take a slug of my net worth and keep an eye out for these opportunities. Pabrai gives numerous examples of past opportunities and suggests many areas (including Greenblatt's book) for ideas. I will keep a special close eye on insurance companies, as that is my area of specific expertise. If I get any "great" ideas, I'll post them here. But please, I want everyone to do their own dd. I am not a financial advisor and I do not want to be responsible for other people's investments.

I am in Boston tonight to see the fireworks, I am hoping that they go off as it looks like rain. Great fun today, they actually read the Declaration of Independence here re-enacted exactly as it was in 1776. Then we saw the USS Constitution (Old Ironsides) actually sail in the Boston Harbor (over 200 years old). I'd encourage people to come here at least once in their lives for a few days around July 4th.

The MFI stock contest has begun. It is early and I just entered my picks today. Here they are:
Random
MOCO
ASPV
RAIL
SHOO
HLF

Just Listed
CHCG
UG
USHS
PBT
ICFI

Blue Light
AEO
IVAC
VALU
LXK
PACR

We'll see how I do!

Past couple days have been solid for my portfolio. I don't have all my stuff here. I think I am 1.9% ahead of the benchmark. Actually have lost a little ground this week, but it is difficult to complain.

Ok, enough typing. Happy Independence Day!