After bidding for the past several years, fund manager and avid Warren Buffett disciple Mohnish Pabrai finally won the prized opportunity to have lunch with his idol. He was an early bidder for last year’s auction, bidding as much as $502,300. However, he wasn’t the winner. Yongping Duan, 45, a California investor was the last bidder standing, ponying up $620,100. In 2005 Pabrai bid 300,000 and 202,000 in 2004, all falling short. He told the Orange County Register in 2005 that "Eventually, I’ll win."
This year his prediction came true. Pabrai, who runs Irvine, California based Pabrai Investment Funds, was finally victorious paying $650,100 and setting a new record for the now annual Lunch with Buffett charity auction which ended on Friday evening….
Pabrai, 43, quoted in the Financial Times last year, said: "If there weren’t a Warren Buffett, there wouldn’t be a Pabrai
Investment Funds," he says. "There’s a big tuition bill due and there’s
no way to repay that properly." From a 2005 Orange County Register article:
"I’ve been an ardent disciple of
Warren Buffett for 11 years, and I converted that passion into a change in
careers," Pabrai said.Six years ago, after growing tired of running his computer software consulting
business, Pabrai wrote to Buffett."I told him that I wanted to work for him for free," Pabrai recalled.
"There is no better teacher."
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