With free market and free man, if you remove one of them, it is not called capitalism in my dictionary. Li Lu Read Quote
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 Read Quote
To us, anyone who opposes dictatorship is our friend. Those who support it, our enemy. Li Lu Read Quote
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. Li Lu Read Quote
I grew up in Communist China and never had much money to my name, and then, all of a sudden, I had giant student loans. Li Lu Read Quote
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 Read Quote
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 Read Quote
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 Read Quote
