---
title: "3 Circle Quotes By Mohnish Pabrai"
description: "3 Circle quotes by Mohnish Pabrai. Plus more from Mohnish Pabrai and more Circle sayings from other authors."
image: "https://sms4smile.com/quotes/i/ac9/mohnish-pabrai-17471_around_what-is-john-arriaga-s-circle-of-compete_2497291.png"
---

> [What is John Arriaga's circle of competence? Is it real estate? No! Is it U.S. real estate? No! Is it California real…](https://sms4smile.com/quotes/mohnish-pabrai/what-is-john-arriaga-s-circle-of-competence-is-it-real-estate-no-is/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

[Image](https://sms4smile.com/quotes/i/ac9/mohnish-pabrai-17471_around_what-is-john-arriaga-s-circle-of-compete_2497291.png)

> [The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You…](https://sms4smile.com/quotes/mohnish-pabrai/the-only-way-one-should-buy-stocks-is-if-you-understand-the/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

[Image](https://sms4smile.com/quotes/i/e73/mohnish-pabrai-17471_business_the-only-way-one-should-buy-stocks-is-if_2728584.png)

> [I think investors ought to focus on making sure that the stock is within their circle of competence, that it's worth a…](https://sms4smile.com/quotes/mohnish-pabrai/i-think-investors-ought-to-focus-on-making-sure-that-the-stock-is/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

[Image](https://sms4smile.com/quotes/i/0d2/mohnish-pabrai-17471_circle_i-think-investors-ought-to-focus-on-maki_2885113.png)

## More by Mohnish Pabrai

> [Entrepreneurs are great at dealing with uncertainty and also very good at minimizing risk. That's the classic great entrepreneur.](https://sms4smile.com/quotes/mohnish-pabrai/entrepreneurs-are-great-at-dealing-with-uncertainty-and-also-very/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [The essence of a good investment manager is one who studies a given business and extrapolates the future cash flows that the business is…](https://sms4smile.com/quotes/mohnish-pabrai/the-essence-of-a-good-investment-manager-is-one-who-studies-a-given/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [“Einstein also recognized the power of simplicity, and it was the key to his breakthroughs in physics. He noted that the five ascending levels…](https://sms4smile.com/quotes/mohnish-pabrai/einstein-also-recognized-the-power-of-simplicity-and-it-was-the-key/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [The single biggest advantage a value investor has is not IQ. It's patience and waiting. Waiting for the right pitch, and waiting for many…](https://sms4smile.com/quotes/mohnish-pabrai/the-single-biggest-advantage-a-value-investor-has-is-not-iq-it-s/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [One of the first things I tell people is, if you want to learn about investing, you want to open an account and make…](https://sms4smile.com/quotes/mohnish-pabrai/one-of-the-first-things-i-tell-people-is-if-you-want-to-learn-about/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [To the extent societal rules or the wiring of your brains make it easy to acquire a lot of assets, then to the extent…](https://sms4smile.com/quotes/mohnish-pabrai/to-the-extent-societal-rules-or-the-wiring-of-your-brains-make-it/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [Before starting my own investment funds, the only models I was aware of were those of Warren Buffett and Charlie Munger. Their models made…](https://sms4smile.com/quotes/mohnish-pabrai/before-starting-my-own-investment-funds-the-only-models-i-was-aware/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [I have a hard time getting past the day without the nap, so the nap is a must.](https://sms4smile.com/quotes/mohnish-pabrai/i-have-a-hard-time-getting-past-the-day-without-the-nap-so-the-nap-is/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [We Americans love original ideas. But truly, there are already plenty of good ones out there, ours for the taking. If I were too…](https://sms4smile.com/quotes/mohnish-pabrai/we-americans-love-original-ideas-but-truly-there-are-already-plenty/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [The problem most nonprofits have is that they are run by romantics who are great to hang out with, but they have no clue.](https://sms4smile.com/quotes/mohnish-pabrai/the-problem-most-nonprofits-have-is-that-they-are-run-by-romantics/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [The stock knows that I bought it, and it decides, 'Mohnish is done. Now let's go down.'](https://sms4smile.com/quotes/mohnish-pabrai/the-stock-knows-that-i-bought-it-and-it-decides-mohnish-is-done-now/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [Mistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets…](https://sms4smile.com/quotes/mohnish-pabrai/mistakes-are-the-best-teachers-one-does-not-learn-from-success-it-is/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [ Wall Street sometimes gets confused between risk and uncertainty, and you can profit handsomely from that confusion. The low-risk, high-uncertainty \[situation\] gives us our… ](https://sms4smile.com/quotes/mohnish-pabrai/wall-street-sometimes-gets-confused-between-risk-and-uncertainty-and/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [I own a company called Rain Industries.](https://sms4smile.com/quotes/mohnish-pabrai/i-own-a-company-called-rain-industries/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

> [The government has to be flexible in Air India sale price, structure, and employee management plan.](https://sms4smile.com/quotes/mohnish-pabrai/the-government-has-to-be-flexible-in-air-india-sale-price-structure/)

[Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/)

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