Kaspi, a Kazakhstan-based fintech company listed on Nasdaq, generates $2 billion in annual cash flow, represents an exceptional business with a dominant competitive position (the WeChat of Kazakhstan), trades at 5-7x cash flow with a dividend yield approaching 10%, and offers asymmetric returns: if the Turkish expansion fails, investors make 2-3x their money; if it succeeds, returns are unlimited.
factualpending
Speaker
Monish PabraiEvidence Quote
“It cash flows $2 billion a year... It's trading at like five to seven times cash flow... If the moonshot doesn't work at all you make two or three times your money. And if the moonshot does work, then we don't know... Heads I win. Tails I win.”
Created: 8/12/2026, 6:21:10 PM
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