Mohnish Pabrai, Managing Partner of Pabrai Investment Funds and Promoter of
Dakshana Foundation, was at the Centre for Investment at ISB to talk about “Compounding, the eighth Wonder of the World.” Pabrai Investment Fund is a family of funds inspired by the Buffett Partnerships.
The concept of compounding has been used successfully by many investors for wealth creation. Inspired by this idea, Pabrai cloned Warren Buffett's portfolio and generated a compounded annual return of around 26% in 18 years.
Speaking on philanthropy, another of his pet projects, Pabrai insisted that while focusing on returns is common to both investing and philanthropy, how one measures returns is different – in philanthropy, returns must be measured in terms of value addition to society. With this idea, he founded Dakshana, an organisation that provides free coaching to the poor students for competitive exams.
Vivek Lall, President and CEO, Reliance Industries recently visited the Mohali Campus, where he discussed career opportunities in the Indian aerospace and defence sector. In his talk, Lall focussed on the unique features and complexities of the aerospace industry and also spoke about the challenges they face. He highlighted India’s recent successes in designing aircraft engines, avionics and accessories. An example of this achievement, Dhruv, is a utility helicopter designed in the last decade. Lall also explained how leading manufacturers such as Boeing and Airbus thrive in this highly complex sector. Lall ended his talk optimistically, highlighting the opportunities in this sector in the next decade or so.
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Professor Raveendra Chittoor and Deepak Jena in collaboration with the Brazilian business school Fundação Dom Cabral (FDC) published their ranking of India’s transnational companies recently in ISB’s flagship research quarterly, ISBInsight. This study, the second in a series that began in 2012, is based on the internationally accepted measure, Transnationality Index (TNI), and is the first of its kind to rank India’s most international companies.
The researchers ring in optimism by their finding that despite a drop in overseas investments by Indian companies in FY 2012, India’s most internationalised companies continued to expand, with their foreign sales, assets and employment growing significantly faster than other companies. Among companies with assets more than US $ 500 million, the state-owned ONGC Videsh, the wholly owned overseas business arm of ONGC, emerged as India’s most internationalised large company while Core Education & Technologies was the contender for the top spot among companies with assets less than US $ 500 million.
For more information on the study, please refer to the latest issue of ISBInsight