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Value Investor Mohnish Pabrai Continues To Be Bullish On Horsehead Holding Corp. (ZINC)

Mohnish Pabrai’s Dalal Street has acquired more shares of Horsehead Holding Corp. (NASDAQ:ZINC). In a Form 4 filing with the SEC, Dalal Street has disclosed purchases during the period of July 24 to July 28 of 470,653 shares in the manufacturer of zinc metal, at prices ranging from $7.82 to $8.12. After these transactions, Dalal Street holds an ownership stake of 7.48 million shares in Horsehead. The investment management firm acquired more shares of the company earlier this month, which might serve as an indicator that something good is expected to occur at Horsehead.

MOHNISH PABRAI

Dalal Street LLC is a value-driven hedge fund established by reputable investor Mohnish Pabrai in 1998. Dalal Street, where Pabrai currently acts as the managing partner, was launched with $1 million in assets under management and currently manages over $800 million in regulatory assets under management. The investing approach of Pabrai is believed to very much resemble Warren Buffett’s investing style. Unlike many of his peers in the industry who use mathematical models and gather massive amounts of data and information to make their investments, Pabrai takes on a particularly minimalist approach to stock investing. He is trying to stick to his circle of competence and aims at holding a concentrated portfolio of stocks in the businesses he understands. Dalal Street’s most recent 13F filing with the SEC reveals that the fund’s portfolio consists of only seven securities, which supports the idea that Pabrai prefers to invest in the businesses he understands and wait for returns rather than buy in and out of a high number of stocks. This gives the...


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