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What A $650k Lunch With The Oracle Will Get You

It seems the Warren Buffet was doing a lot more than just taking in $650k for a lunch meeting during 2007; he was feeling out unknowing candidates to take the other side of his trades. Two years ago, Mohnish Pabrai, Managing Partner of Pabrai Investment Funds, shelled out around $10,000/minute to thank Buffet personally for his publicly disseminated investing advice. Some of the pearls of wisdom that the Oracle imparted on the fund manager were the benefits of keeping an empty calendar, not scheduling any meetings, ditching the Blackberry, losing the email account and attempting to maintain a general state of information blackout. These helpful hints paid impressive dividends in 2008 when Pabrai's fund finished the year down 60%.
The fun begins immediately after the jump