The Owner's Memo #19; Shipping is a highly cyclical and difficult business, but in 2002, Frontline’s stock price had plummeted.
Loved this, Tim. You don’t just retell what Pabrai bought — you reconstruct the decision as it looked before the outcome was known.
The charter-rate vs breakeven work is especially good. It turns Frontline from a famous anecdote into an actual investing case study.
Debug the decision, not worship the investor. Excellent work. 🔍
I'm glad you enjoyed it, Uday.
Loved this, Tim. You don’t just retell what Pabrai bought — you reconstruct the decision as it looked before the outcome was known.
The charter-rate vs breakeven work is especially good. It turns Frontline from a famous anecdote into an actual investing case study.
Debug the decision, not worship the investor. Excellent work. 🔍
I'm glad you enjoyed it, Uday.