Mohnish Pabrai: "People Will Be Surprised at How Robustly the U.S. Economy Comes Back"

Before you go, we thought you'd like these...
Before you go close icon

I recently sat down with value-investing great Mohnish Pabrai. While at heart Pabrai is a stock picker, I asked him a big-picture question: Do you feel better about 2013 than you did 2012?

His basic answer was yes. "People will be surprised at how robustly the U.S. economy comes back," he said.

Here's what else he had to say (transcript follows):


Morgan Housel: Do you feel better about 2013 than you did 2012 in terms of the economy and the stock market?

Mohnish Pabrai: Yeah, I think that people are going to be surprised at how robustly the U.S. economy comes back. I think housing is a big driver and housing is coming back in a big way. ... I think Mitt Romney had talked about 4 million jobs. I think the economy, no matter who is president -- and we know Barack's going to be president -- is going to create way more than that.

I think we'll be surprised at how robust the job creation engine is. The United States actually has gone through a period where it has become vastly more competitive, so the financial crisis has made many industries a lot more competitive. And, of course, we have all kinds of things in the country that work exceptionally well -- innovation, entrepreneurship, and so on. So I am a bull in terms of where the economy's going to go.

link

The article Mohnish Pabrai: "People Will Be Surprised at How Robustly the U.S. Economy Comes Back" originally appeared on Fool.com.

Fool contributor Morgan Housel doesn't own shares in any of the companies mentioned in this article. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners