Mohnish Pabrai delivered a wonderful talk in my class at MDI in December 2014 which you can see from here.
My favorite part of the video is when Mohnish talks about how he used what he had learnt while practicing value investing lessons to create and run his Dakshana Foundation. Over time, Dakshana has produced a stupendous track record. According to the Foundation’s Annual Report for 2013
Since inception in 2007, the IITs have accepted 631 Dakshana Scholars (out of a total universe of 1288 Dakshana Scholars) – a success rate of 49%. Not too shabby – considering that the IITs accept under 2% of applicants. In 2014, out of 259 Dakshana Scholars who took the IIT entrance test, 167 made it – a success rate of 64.4%.
Mohnish invited a few Dakshana Scholars to attend his talk. Their presence and interaction with Mohnish made the experience all the more memorable and enriching.