The Dhando Investor
- Dhando Framework:
- Focus on buying an existing business.
- Buy simple businesses in industries with an ultra-slow rate of change.
- Buy businesses in distressed industries.
- Buy businesses with a durable competitive advantage — the moat.
- Bet heavily when the odds are overwhelmingly in your favor.
- Focus on arbitrage.
- Buy businesses at big discounts to their underlying intrinsic value.
- Look for low-risk, high-uncertainty businesses.
- It's better to be a copycat than an innovator.
- Heads I win. Tails I don't lose much.
- Marwaris expect a return on capital in 3 years.
- Large equity stake with minimal investment.