Even After 70% Selling Rain Industries Would Be “Dumb” Says Mohnish Pabrai

After two years of exceptional performance, Mohnish Pabrai’s flagship investment vehicle ended 2018 deeply in the red. His flagship Pabrai Investment Fund II (PIF2) finished the calendar year down 35.3%. This follows a gain of 64.9% and 23.9% for the fiscal years ending 6 June 2017 and 6 June 2018 respectively. Q3 hedge fund letters, conference, scoops etc Heading into 2018, Pabrai Funds was “the most concentrated it has ever been previously” according to the respected value manager’s 2018 letter to investors. The bulk of the firm’s assets are currently invested in just two companies, Fiat Chrysler and Rain Industries,…