The Dhando Investor

High-Level Thoughts

The Patels rode a simple path to generational wealth in America - buying low risk businesses.

Summary Notes

Dhando Framework:

1. Focus on buying an existing business
2. Buy simple businesses in industries with an ultra-slow rate of change
3. Buy businesses in distresses industries.
4. Buy businesses with a durable competitive advantage- the moat.
5. Bet heavily when the odds are overwhelmingly in your favor.
6. Focus on arbitrage
7. Buy businesses at big discounts to their underlying instrinsic value.
8. Look for low-risk high-uncertainty businesses.
9. Its better to be a copycat than an innovator.

Head I win. Tails I don't lose much.

Expect a return on capital in 3 years.

Large equity stake with minimal investment.