Tag Archive

In this CCBC Fireside Chat with Bruce Greenwald, Li Lu discusses the importance of understanding businesses deeply, drawing inspiration from Ben Graham’s concept of Mr. Market. He warns that financial markets can be volatile and are designed to exploit human weaknesses. Investors who lack true understanding will eventually face losses, … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his paper The Prospects for Value Investing in China, Li Lu discusses how to master your circle of competence and the importance of clear boundaries. He emphasizes the need for a small, well-defined circle of competence, achieved through focused effort and hard work. Within this zone, you can develop … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his letter titled Remembering My Teacher Charlie Munger, Li Lu explains how Charlie Munger believed that virtue, moral responsibility, truth-seeking, and public service are essential qualities for a fulfilling life. He demonstrated these values throughout his life by making money in an ethical manner, pursuing lifelong learning, maintaining a … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

During this interview with Bruce Greenwald, Li Lu discusses how to find great businesses. Here’s an excerpt from the interview: Lu: Great businesses are the ones who really have above average returns of invested capital, but that kind of business usually attracts imitators and competitors. Everybody wants to have above … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In this interview with the Graham & Doddsville Newsletter, Li Lu explained why investors who figure out their own style, and stick to it, will have a huge advantage. Here’s an excerpt from the newsletter: Li Lu: Part of the game of investing is to come into your own. You … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In his 2019 speech at the Peking University, Li Lu discussed an example of the patience of Charles Munger. Here’s an excerpt from the speech: The next character is also quite special. This person has to be extremely patient and very decisive. This is a contradiction. When there is no chance, … Read More

In an interview earlier this year with Bruce Greenwald, Li Lu discussed why China is one of the best markets for value investors. The interview was transcribed on roiss.substack.com. Here’s an excerpt from the interview: Bruce: Where do you see the unique challenges and opportunities of value investing in China? Li … Read More

On March 13th, 2020, Himalaya Capital’s founder, Li Lu, organized and hosted a panel of experts leading the fight against COVID-19. Critical insights were shared from the front line of China’s fight against COVID-19, such as ICU lessons, the protocols put in place and the treatment methodologies and practices used … Read More