By Ben Rundle | Portfolio Manager at NAOS Asset Management

In this podcast, famed value investor Mohnish Pabrai talks about numerous experiences he has had running his fund, with one of the topics being the mental model of ‘cloning’ or simply copying other people’s good ideas.

Sam Walton is famous for it and founded Walmart which has been a huge success.

Pabrai believes that by ‘cloning’ you can do a better job than people who are smarter than you or work harder than you do.

However, human nature however typically has an issue with cloning, and Pabrai gives an example of two identical gas stations and why one was doing better than the other, simply because the underperformer didn’t clone the better operator’s good ideas.

Pabrai is also the author of a book titled “The Dhandho Investor” which we highly recommend. 

Listen to the podcast