Timeless wisdom from Li Lu

Li Lu is the founder and chairman of Himalaya Capital and popularly called the Chinese version of Warren Buffett. He is the one who introduced Chinese battery and automaker BYD Company to Charlie Munger and Warren Buffett (https://bit.ly/3iHNSnd) Are you really a value investor? Li Lu argues that although the attributes of value investing like the margin of safety, investing being equivalent to business ownership and others are fairly well known, value investing is rarely followed. Why? He gives reasons, "Stock is first and foremost a piece of paper you can trade all the time and therefore, it follows that successfully investing lies in the successf

This article was originally published on October 13, 2021.