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I think we Chinese are just as capable, as diligent, as hardworking, as peace-loving, and as creative as people everywhere.
Li Lu -
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.
Li Lu
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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.
Li Lu -
You can't imagine a free market coupled with a dictatorship.
Li Lu -
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.
Li Lu -
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?
Li Lu -
For the vast majority of mankind's history, economic activity consisted of finding energy and using energy.
Li Lu -
I graduated from Columbia University in 1996 and founded my investment company in 1997, thus starting my professional investment career.
Li Lu
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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.
Li Lu -
No dictatorship can be sustained within the context of an information revolution.
Li Lu -
With free market and free man, if you remove one of them, it is not called capitalism in my dictionary.
Li Lu -
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.
Li Lu -
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.
Li Lu -
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.
Li Lu
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Rock and roll was a revelation for me.
Li Lu -
The whole thing is, really, money makes money. That's the whole thing about capitalism. Without the capital, there is no -ism.
Li Lu -
Mao Zedong's way was to make people crazy. It was like a religious cult.
Li Lu -
Politically, China suppresses its people, but because the government allows some freedom in economic matters, business has become the ultimate expression of individuality.
Li Lu -
When I first came to Columbia University, I was dirt poor. I did not choose to come here - I just ended up here because I had nowhere else to go, having just escaped from China after Tiananmen. I was in a new country where I didn't understand the language, didn't know anybody, and didn't have a penny to my name. So I was desperate and afraid.
Li Lu -
Management always has a big influence on your success, no matter how good or how bad the business is itself.
Li Lu
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I have three lovely children. They are beautiful, talented, and kind-hearted. I'm most proud of them. I love them so much that I will never want to burden them with a large amount of inherited wealth.
Li Lu -
To us, anyone who opposes dictatorship is our friend. Those who support it, our enemy.
Li Lu -
Tiananmen did not fail.
Li Lu -
Only by a process of peaceful evolution can China accomplish its own goals of being a free, prosperous, and strong country.
Li Lu