The Dhandho Investor Framework

Have you heard of Mohnish Pabrai, who wrote The Dhandho Investor?

Check out his 9-point Dhandho framework:

1. Focus on buying an existing business (rather than backing start-ups or firms with unproven models)
2. Buy simple businesses in industries with an ultra-slow rate of change (these are often unloved and in my view easier to understand and value)
3. Buy distressed businesses in distressed industries (a contrarian approach)
4. Buy businesses with a durable competitive advantage (having a moat)
5. Few bets, big bets and infrequent bets (you don't have to constantly be buying and selling, but you do need to build up a big list of potential investments)
6. Fixate on arbitrage 
7. Demand a margin of safety, always.
8. Look for low-risk, high-uncertainty business (where the downside risk is low but it is mispriced because there appears to be a lot of uncertainty)
9. It’s better to be a copycat than an innovator (innovators, too many things can go wrong)

What do you think of his framework?