The Dhandho Framework

  • Invest in existing businesses.
  • Invest in simple businesses.
  • Invest in distressed businesses in distressed industries.
  • Invest in businesses with durable moats.
  • Few bets, big bets, and infrequent bets.
  • Fixate on arbitrage.
  • Margin of safety—always.
  • Invest in low-risk, high-uncertainty businesses.
  • Invest in the copycats rather than the innovators.

Based on the book "The Dhandho Investor" by Mohnish Pabrai