Mohnish Pabrai's latest investing stock portfolio

As of Mar 31 submitted May 14, 2008

Quarterly comparison

ABX Air, Inc (Increased)
Dec 31: 5,517,678 shares
Mar 31: 5,592,678
Value: $16 million

Berkshire Hathaway A (BRK-A, increased)
Dec 31: 1
Mar 31: 16
Value: $2 million

Berkshire Hathaway B(BRK-B, new position)
Mar 31: 288 shares
Value: $1.2 million

CompuCredit (CCRT, increased)
Dec 31:362,001
Mar 31: 2,065,997
Value: $18 million

Crypotologic (CRYP, no change)
Mar 31:1,483,694
Value: $23 million

Harvest Natural Resources (HNR, no change)
Mar 31: 5,712,701
Value: $68 million

Lear Corp (LEA, new postion)
Mar 31: 298,693
Value $7 million

MDC Holdings (MDC, No Change)
Mar 31: 140,901
Value: $6 million

Pinnacle Airlines (PNCL, increased)
Dec 31: 3,244,902
Mar 31: 3,268,602
Value: $28 million

Sears Holding (SHLD, increased)
Dec 31:516,210
Mar 31: 588,407
Value: $52 million
Parbai also has 2500 call options on SHLD valued at $85,000.

Stamps.com (STMP, no change)
Mar 31:502,169

Ternium S.A (TX, reduced)
Dec 31: 1,875,844
Mar 31: 1,797,644
Value: $64 million

Wellcare Health Plans Inc. (WCG, new position)
Mar 31: 297,179
Value: $11 million

Non Common Stocks

Fairfax Financial Holdings -SUB VTG (reduced)
Dec 31:314,165
Mar 31: 310, 516
Value: $89 million


"look at Mohnish Pabrai, a Buffett-inspired value investor with a seven-and-a-half-year net annualized return exceeding 25%......

During most of that period, Pabrai has observed that immediately after he buys a stock, it tanks and immediately after he sells, it shoots up. So what explains his stellar performance? He exhibits no emotion toward those stock-price movements! When he bought Universal Stainless (Nasdaq: USAP) several years ago at around $15 a share, the stock was trading for $5 several months later. Yet Pabrai didn't flinch. And he would eventually more than double his money on the investment. The same thing happened with Tesoro (NYSE: TSO). After an average buy price of $7.63 a share in the summer of 2002, the stock was trading at $2.80 by the fall. Two years later, he sold the stock for around $15. He experienced similar situations with Frontline (NYSE: FRO) and Sunrise Senior Living (NYSE: SRZ) as well.

If you had given Pabrai's portfolio to an emotional investor, the results would have been much worse. To succeed in this game, remember that you have to take advantage of Mr. Market's emotional mood swings -- not the other way around."-Stock Article Link