Mohnish Pabrai : (5) " I have a hard time getting past the day without the nap, so the nap is a must. " - Mohnish Pabrai " The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand. " - Mohnish Pabrai " When I ran a small IT services business in the 1990s, it had strong recurring revenues – yet I couldn’t accurately forecast cash flow for even the next few quarters. Small changes in the customer base or losing/hiring a few key employees could create massive swings in cash flow. " - Mohnish Pabrai " Entrepreneurs are great at dealing with uncertainty and also very good at minimizing risk. That’s the classic great entrepreneur. " - Mohnish Pabrai " The good news in investing is there are no HR problems. If there are no humans, there are no problems! " - Mohnish Pabrai