Who is Mohnish Pabrai, what stocks does he own and, more importantly, why should you care?

The Mohnish Pabrai portfolio is the 10th most-viewed portfolio at Stockpickr.com and the fifth most viewed portfolio of individual traders after Warren Buffett, George Soros, Carl Icahn and T. Boone Pickens.

Pabrai manages the $300 million Pabrai Fund using a deep value approach. His fund has generated an average annual return of roughly 25% since its inception in 1999. Stockpickr has sorted through Pabrai's holdings and compiled a list of Pabrai's Top Stocks ranked by their price/earnings-to-growth (PEG) ratios. Generally speaking, the lower the PEG ratio, the more undervalued the stock.

At the top of the list is CompuCredit ( CCRT), with a very low PEG of 0.4. This credit and financial services company just reported that it expects earnings of 80 cents to 90 cents a share for the latest quarter. However, $1.30 a share was estimated by analysts. The stock has a P/E ratio of 23.

CompuCredit shares also are owned by Second Curve Capital, an $800 million hedge fund that specializes in financial services stocks. The fund, which is run by Tom Brown, has generated an average annual return of 20% after fees. Second Curve also owns Capital One Financial ( COF), which has a PEG of 1.2, First Marblehead ( FMD), which has a PEG of 0.2, and RenaissanceRe ( RNR), with a PEG of 0.5.

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