Pabrai's new positions can be summed up as a bunch of commodities with a hint of financials. New mining stakes include Horsehead Holding Corp (ZINC), Teck Cominco (TCK) and indirectly, Leucadia National (LUK). He also moved into the agriculture space with Potash (POT) and Cresud SA (CRESY). He also added a good-sized position in Goldman Sachs (GS), which received a well-publicized capital boost from Pabrai's acknowledged idol, Warren Buffett. Pabrai completely divested his WCG position and massively reduced stakes in Buffett's Berkshire, Cryptologic (CRYP), CompuCredit (CCRT) and Fairfax Financial (FFH).
Sunday, February 22, 2009
Pabrai's New Buys
In a recent post ("Mohnish, How Are You Feeling?"), we linked to Mohnish Pabrai's annual investor letter in which he wrote that he had invested in a number of businesses in the commodities sector in 4Q08. On Seeking Alpha, Davy Bui lists Pabrai's new positions (Hat Tip: The Guru Five):