Clone!!!

I would like to write what did i learn from the video given by Mr.Mohinish Pabrai & Guy Spier.

Mohnish was talking  about 2 Gas stations, diagonally opposite to each other.  For simplicity side lets name them as Mr. A & Mr.B. Mr.A thought one day, why don’t i give my clients extra services to attract clients. Mr.A started services like cleaning windshields, checking oil etc. In a matter of days Mr.A’s business started to rise and Mr.B’s  business declined. All these while Mr.B was watching Mr.A’s business but never applied those extra services.

There are very few people who learn from others and apply those principles. We never pay attention to Competitor’s advantage because it is easily available to the people. We never value things which are easily available.

From the above example Mr.Mohnish was saying that we have all the Competitors secret of Business but we never apply them. For ex: Walmart, Microsoft, Big Bazzar. Sam walton of Walmart had only few innovations, major features of walmart were copied from competitor. Sam Walton enjoyed most of his time looking for competitor retail showroom. Sam walton success came from Cloning others.

Like Sam Walton, Mohnish Pabrai too clone from greatest investors, all thanks to SEC Filling. We can all learn or clone from the greatest investors like Warren Buffett, Charlie Munger, Prof Sanjay Bakshi.

Once Warren Buffet gave a talk in a Business School. Warren said, If you have the chance to take 10% of the person who would be??? Well i think Warren too clone few investors, but at a later stage he developed his own style of investing.

I think we should not clone blindly. We should know what works for us and what not. Few things might be good for some people and few things would be bad for other people. So we should learn what works for us…