Value investor Mohnish Pabrai $(2007)$ wrote the Dhandho Investor: The Low$-$Risk Value Method to High Returns. Pabrai sums up the Dhandho approach as heads, I win; tails, I dont lose much! Basically, with investing you are right $60\%$ of the time, while having to bear a calculated risk in approximately $40\%$ of the instances.You have begun reading Pabrais book. He states that the lower the price you pay relative to the probable intrinsic value of the business, the higher your returns will likely be if youre right and the lower your losses will likely be if youre wrong $($Pabrai$,2007,$ p$.2)$ Part $1$: Please focus on Apple as a company. Explain the essence of Pabrais Dhandho Framework in reference to the two above listed quotes.Analyze the real$-$life business examples from the chosen company.Critique this companys leadership in terms of strategic initiatives.Analyze how the leadership or CEO of the company promotes long$-$term value creation.Evaluate how decisions about people and money impact this organizations competitive position.Summarize capital allocation practices for this company.Part $2$: Dhandho explains a low$-$risk, high$-$return approach to business. Dhandho is all about the minimization of risk while maximizing the reward. It means the upside is much larger than the downside, which is the essence of value investing.

Address the following:

Evaluate the core of this belief.Summarize the evidence Pabrai provides in the book to solidify this position.Justify this approach as valid or invalid with the company you researched.Explain your reasoning