Yesterday, I delivered a talk titled “Seven Intelligent Fanatics from India” at Value Investing Seminar, Trani, Italy.
None of the stocks of companies run by any of these seven entrepreneurs were recommended for purchase. Nor am I recommending them now.
I know that some of you may disagree with me about the conclusions about some (or even all) of the individuals profiled by me in my talk. However, I do not wish to get into a public debate on the subject. Think of what I said as my own personal views please.
Why did I choose these seven or only seven? Well, I had only 20 minutes to deliver this talk (I actually took 21). And I chose the ones I was more familiar with. To be sure, there are many more intelligent fanatics out there.
The reason I am publishing this is to help investors understand that: (1) an intelligent fanatic has the ability to turn what looks like a poor business into a very good one; and (2) the force (I call it “fire in the belly”)” of an intelligent fanatic, when combined with a good business, has a tendency to produce what Charlie Munger calls a “lollapalooza” outcome.
You can get the transcript of the talk from here.