Mohnish Pabrai outlines his “Un-S&P 500” investment strategy, built around a concentrated portfolio of 20 high-quality companies positioned for long-term global growth. Through the Pabrai Wagons ETF (WAGN), Pabrai looks beyond the S&P 500, emphasizing international exposure and durable business models. He stresses tuning out short-term market noise and instead embracing volatility—using pullbacks as opportunities to build stronger positions at more attractive valuations.