After Rough 2018 Mohnish Pabrai Laments: Mr. Market Has Been “Quite Stupid” On Fiat ChryslerMichelle Jones
Now that 2018 is over, many hedge fund managers are read to close the book on it. For some, including Pabrai Investment Funds, the losses were sizeable.
In his January letter, which was reviewed by ValueWalk, Managing Partner Mohnish Pabrai reported that the firm's three funds were all deep in the red for 2018. The highly-respected manager cited "irrational declines" in their two largest positions, which ironically were the reasons his fund did so well in 2017. One fund (PIF2) was down 35.3% for 2018, while the second (PIF3) was down 41.9% and the third (PIF4) was down 22.8%
Pabrai won and lost on Fiat Chrysler but hopes to win more
Fiat Chrysler was one of Pabrai's two biggest positions, with India's
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