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Go from $10,000 to $1M in just 3 years

2025-05-09 Entertainment
1.4m
23.1k
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My First Million
My First Million
911.0k subscribers

The Path from $10K to $1 Million: Simple Investing and Temperament

Discover a reliable, no-genius approach to compound wealth using simple index investing as a baseline, supplemented by finding rare, high-impact anomalies. This discussion reveals the critical importance of temperament, avoiding complexity, and understanding risk versus uncertainty.

Short Summary

  • Achieve 100x growth (\$10K to \$1M) through consistent long-term compounding in Berkshire Hathaway, requiring only patience and discipline. [02:49:0]
  • Identify outstanding investments by looking for opportunities that "hit you in the head with a 2x4"—simple ideas where the numbers seem too good to be true. [03:14]
  • Avoid failure by mastering temperament: stick to your circle of competence, refuse to use complex Excel models, and avoid leverage. [04:09, 08:07, 08:28]
  • Warren Buffett’s success stems from focusing intensely on a few exceptional opportunities (only 12 moves moved the needle in 58 years) rather than broad diversification. [12:11]

This conversation guides you through two core investment plans: Plan A (stable indexing) and Plan B (hunting for rare, disruptive anomalies). The speakers emphasize that successful investing relies less on mathematical genius and more on psychological discipline—like adhering to simplicity and understanding humility (knowing what you don't know). You will learn how to source high-signal ideas using historical methods and modern tools, bypassing the need to understand complex macro trends or emerging technologies like AI.

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Description

*Want to invest like a Billionaire? Get Mohnish's investment playbook: https://clickhubspot.com/mhs* Episode 705: Shaan Puri ( https://x.com/ShaanVP ) sits down with Mohnish Pabrai ( https://x.com/MohnishPabrai ) about how to turn $10K into $1M. — Show Notes: (0:00) Simple = Genius (28:09) Never over-leverage (30:15) Risk vs uncertainty (32:50) Too hard pile (34:25) Be 1 inch wide, 1 mile deep (38:12) Learn from losers (43:30) A case for napping (48:00) Having an owner’s manual (53:00) Dying with zero (1:09:45) India’s Greatest Investor — Links: • Value Investors Club - https://www.valueinvestorsclub.com/ • Japan Company Handbook - https://tinyurl.com/489czpkp • Dakshana - https://www.dakshana.org/ • BJ21 - https://bj21.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents. — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Top Comments (10)

@Tutnod 2025-09-29

Where's the part where the $10,000 goes to $1 million in 3 years?

1.6k 26 replies
@Sandman60077 2025-05-30

Soooooooo.....How do I go from 10k to 1mil in 3 years?

1.0k 24 replies
@katun1883 2025-05-09

Best podcast I'm seen in a long time. As everyone is probably saying: "I wish I seen this when I was young". Sending this to my son!

414 7 replies
@cruisinspecialtiesllc6104 2025-05-18

I wish I would have listened to Warren Buffet when I was in my 20s.

367 14 replies
@johnbwill 2025-05-11

Monish comes across as authentic, self-deprecating, very, very smart and wonderfully generous. What a great human being. Thank you both.

367 7 replies
@walkjar-q7s 2025-08-04

If you had $250k, which investments would you go for in terms of maximizing returns and mitigating risks? I'm semi-retired and only work 7.5 hours weekly. Looking for opportunities in the market that can fetch me millions, then I can retire.

332 10 replies
@Highlander123-x5h 2025-05-12

Mohnish is a great teacher. Unlike Buffett who mostly gives top level view, I appreciate Mohnish’s deep dive on the subjects.

269 5 replies
@MyFirstMillionPod 2025-05-09

*Want to invest like a Billionaire? Get Mohnish's investment playbook:* https://clickhubspot.com/wmp

112 10 replies
@zacdudzik 2025-05-09

Need Mohnish once every 2 months at least. I wish he was my Grandpa. Could listen to his wisdom all day.

92 5 replies
@MichaelDailey-g8p 2026-03-16

Whenever I see people talk like this I honestly feel a bit lost. Making $1m from a $10k in 3years risk looks amazing, but I keep wondering what experienced investors are seeing that I'm not.

47 8 replies

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