The Schwar Report - Issue 19
Monday 06 December 2025
Welcome to this weeks edition of The Schwar Report, your weekly primer featuring three interesting reads, two thought-provoking quotes, and one question to ask yourself to start your week on the right foot.
Three Reads to Inspire Your Week
1. “The Dhandho Investor" by Mohnish Pabrai
Why read it: Pabrai's book explores value investing principles through the lens of the Gujarati business community's "Dhandho" approach. It offers practical strategies for identifying low-risk, high-return investment opportunities, making it an essential read for value investors looking to refine their approach.
2. "The Philanthropy of Knowledge" by
Why read it: This article reflects on Munger's role as a dedicated teacher and highlights the importance of sharing knowledge in the investment world.
3. "AI: Bicycle of the Mind 2.0" by
Why read it: This article draws parallels between Steve Jobs' "bicycle for the mind" concept and the potential of AI in reshaping our mental processes. It offers insights into how AI can supercharge productivity and thinking processes for investors and professionals.
Two Quotes to Reflect On
"I enjoy the hunt much more than the 'good life' after the victory." — Carl Icahn
Reflection: This quote highlights the importance of finding fulfilment in the process of investing, rather than just the end result. It suggests that the challenge and excitement of identifying opportunities and executing strategies can be more rewarding than the wealth that follows.
"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 much more firmly seared in when they are your own." — Mohnish Pabrai
Reflection: This quote reflects Pabrai's investment philosophy, which emphasises learning from mistakes and the importance of experiential learning in investing. Pabrai, known for his value investing approach, often draws inspiration from Warren Buffett and Charlie Munger, but this particular quote is his own insight on the learning process in investing.
One Question to Ask Yourself
This week, we’re asking you to consider your investment philosophy:
ICYMI
Check out our posts from the last week:
That’s all for this week’s Schwar Report, we hope you enjoyed.
Have a great week,
The S.C. Team
Disclaimer: The content provided in this newsletter is for informational purposes only and does not constitute financial, investment, or other professional advice. While we believe the information to be reliable, we cannot guarantee its accuracy. The opinions expressed are those of the author and do not necessarily reflect the views of Schwar Capital. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. The author may or may not hold positions in the stocks or other financial instruments mentioned. Always do your own research or consult with a qualified financial advisor before making any investment decisions.