My First Million

Snapshot · My First Million

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

Explore episode May 22, 2026

Where this was said

Paying $650,000 to have lunch with Warren Buffett

At 44:04 · chapter starts 44:01

By 2007, Mohnish Pabrai's net worth had reached $84 million, and he felt a genuine debt he could not repay: almost all of it had come from applying Warren Buffett's intellectual framework, which he'd gotten for free. The charity lunch auction was his chance to at least look Buffett in the eye and say thank you. When the day arrived, Buffett had spent the intervening year studying the bios of every attendee and arrived with a full afternoon cleared. He opened with a characteristic act of generosity: 'Whenever you get sick and tired of me, just let me know and I'll leave.' What followed was over 50 questions, Buffett converting even mundane queries into wisdom, including an innocuous question about Rick Guerin that became the episode's most important investing lesson.

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