Words matter. These are the best Li Lu Quotes, and they’re great for sharing with your friends.
The whole thing is, really, money makes money. That’s the whole thing about capitalism. Without the capital, there is no -ism.
I was born in April of 1966, on the eve of the Cultural Revolution. Soon after, my parents and grandparents all lost personal freedom simply for being intellectuals. So I spent most of my childhood rotating between adopted families of peasants and coalminers.
Part of the game of investing is to come into your own. You must find some way that perfectly fits your personality because there is some element of a zero sum game in investing. If you buy, somebody else has to sell. And when you sell, somebody has to buy. You can’t both be right.
Tiananmen did not fail.
At various stages in my life, I could have stopped, or took the long rest. For some reason, my heart told me otherwise. I just kept going. Half of the time, I wasn’t sure where I was heading. The other half, I was probably taking the wrong turns. No matter.
I think we Chinese are just as capable, as diligent, as hardworking, as peace-loving, and as creative as people everywhere.
Investing is about predicting the future, and the future is inherently unpredictable. Therefore, the only way you can do better is to assess all the facts and truly know what you know and know what you don’t know. That’s your probability edge.
Mao Zedong’s way was to make people crazy. It was like a religious cult.
Everyone has blind spots, and even the brightest people are no exceptions.
A ‘competence’ that has no defined borders cannot be called a true competence.
No dictatorship can be sustained within the context of an information revolution.
I was born and grew up in China during the 1960s.
In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?
All companies incur expenses, some of which are fixed and bear no relation to sales volumes. In this way, profits can grow at a faster rate than sales.
I graduated from Columbia University in 1996 and founded my investment company in 1997, thus starting my professional investment career.
Investing is about intellectual honesty. You want to know what you know. You want to know, mostly, what you don’t know.
Whatever you are is because of what your ancestors have done.
The financial crisis of 2008-09 was in large part the result of the so-called ‘success’ of people who did not understand their fiduciary duty. This kind of ‘success’ is extremely harmful to all of society.
The game of investing is a process of discovering who you are, what you’re interested in, what you’re good at, what you love to do, then magnifying that until you gain a sizable edge over all the other people.
In my 40s, the two cultures finally came to peace with one other inside me, and I have come to identify myself as both 100% Chinese and 100% American simultaneously.
