Reza's
A warehouse operator in Turkey that was bought for a fraction of its liquidation value, indicating significant undervaluation in the market.
Why It Works
Reza's operates in a market where the assets are fundamentally valuable, providing a buffer against inflation and currency fluctuations.
Revenue & Traction
The company was acquired at a market cap of $15-16 million with a liquidation value around $800 million, highlighting substantial potential for growth.
Founding Story
Not mentioned in the transcript.
Business Playbook
Focus on acquiring assets with intrinsic value, even in a turbulent economic environment, and leverage market inefficiencies to realize significant returns.
Why this works now
Warehouse managers in Turkey seeking efficient logistics solutions benefit from Reza's undervalued assets, which provide a hedge against inflation. The company could generate first revenue by listing its services on the Turkish logistics platform, Nakliyat. A risk for Reza's involves the high capital required to upgrade its aging infrastructure, which could impact cash flow and operational capacity.
Additional Information
The investment has reportedly increased close to 100 times in value since its acquisition.
Source
Podcast: My First Million
Episode: Mohnish Pabrai: How to be a top 1% investor
Creation Date: May 22, 2026
Ideas worth reading next
Mailbox Masonry Repair
A masonry business focused on repairing brick mailboxes, particularly in neighborhoods where such structures are common. This business capitalizes on small jobs that larger masonry companies often overlook.
Moonlight Commercial Cleaning
A commercial cleaning business that operates after hours, providing cleaning services to restaurants and bars. The company grew quickly by leveraging existing networks and social media for client acquisition.
Housekeeping Services for Assisted Living Facilities
Expanding cleaning services to include housekeeping for assisted living facilities, addressing a growing demand for reliable housekeeping in these environments.
More case studies
Andrew's Masonry Business
A business focused on repairing and rebuilding brick mailboxes in the Dallas-Fort Worth area.
David's Christmas Light Business
A seasonal service that installs Christmas lights for residential clients.
Derek's Plant Bingo
An event business that organizes bingo games where participants win plants.