Meet Li Lu. Escaped Tiananmen Square, arrived in the US with $0....
Kintsugi Investing@kintsugiinvest
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Feb 07, 2025
~3 min read
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Meet Li Lu.
Escaped Tiananmen Square, arrived in the US with $0.
Built a $15B fund that Charlie Munger invested in—even called him ‘the Chinese Warren Buffett.’
His investing principles: 🧵
Escaped Tiananmen Square, arrived in the US with $0.
Built a $15B fund that Charlie Munger invested in—even called him ‘the Chinese Warren Buffett.’
His investing principles: 🧵
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Context:
Li Lu survived China’s Cultural Revolution.
As a child, his family was exiled. He lived through famine, poverty, and chaos.
That resilience became the foundation of his success as one of the greatest investors of his generation.
Li Lu survived China’s Cultural Revolution.
As a child, his family was exiled. He lived through famine, poverty, and chaos.
That resilience became the foundation of his success as one of the greatest investors of his generation.
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In 1989, Li Lu led Tiananmen Square protests (previous pic).
When the crackdown came, he fled China with nothing.
He arrived in the US penniless, learned English, and rebuilt his life from scratch.
From political exile to legendary investor.
When the crackdown came, he fled China with nothing.
He arrived in the US penniless, learned English, and rebuilt his life from scratch.
From political exile to legendary investor.
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Rule 1: Only invest in what you understand.
Li Lu avoided dot-com stocks in 2000—he didn’t fully understand them.
Instead, he bet on Berkshire Hathaway, a business he could analyze, avoided losses and grew his portfolio.
“Know your circle of competence—and stay within it.”
Li Lu avoided dot-com stocks in 2000—he didn’t fully understand them.
Instead, he bet on Berkshire Hathaway, a business he could analyze, avoided losses and grew his portfolio.
“Know your circle of competence—and stay within it.”
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Rule 2: Bet big on high-conviction ideas.
Li Lu invested heavily in Wells Fargo during its turnaround. He saw minimal risk and big potential.
That conviction paid off: the investment grew over 400% in the following years.
“Opportunities like this are rare. Act decisively.”
Li Lu invested heavily in Wells Fargo during its turnaround. He saw minimal risk and big potential.
That conviction paid off: the investment grew over 400% in the following years.
“Opportunities like this are rare. Act decisively.”
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Rule 3: Think in decades, not years.
Li Lu is a long-term investor in Micron Technology, a semiconductor company.
By focusing on its future in memory storage, he’s earned 600%+ gains (reportedly), ignoring short-term market swings.
“Time is the friend of a good investment.”
Li Lu is a long-term investor in Micron Technology, a semiconductor company.
By focusing on its future in memory storage, he’s earned 600%+ gains (reportedly), ignoring short-term market swings.
“Time is the friend of a good investment.”
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Volatility creates opportunity.
In 2008, while the market panicked, Li Lu stayed calm.
He bought great businesses at steep discounts—setting the stage for massive returns when the market recovered.
“Periods of chaos are when the best businesses sell for the lowest prices.”
In 2008, while the market panicked, Li Lu stayed calm.
He bought great businesses at steep discounts—setting the stage for massive returns when the market recovered.
“Periods of chaos are when the best businesses sell for the lowest prices.”
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Rule 5: Know yourself and your style.
Not everyone is a value investor—and that’s okay. Li Lu says the key is understanding who you are and aligning your strategy.
“Knowing yourself is the only way to have spectacular success in the stock market.”
Not everyone is a value investor—and that’s okay. Li Lu says the key is understanding who you are and aligning your strategy.
“Knowing yourself is the only way to have spectacular success in the stock market.”
2:05
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Li Lu wasn’t supposed to be an investor.
At Columbia, he studied physics and law. He only started managing money to grow his savings—but was so good, others begged him to manage theirs.
That’s how Himalaya Capital was born.
At Columbia, he studied physics and law. He only started managing money to grow his savings—but was so good, others begged him to manage theirs.
That’s how Himalaya Capital was born.
1:40
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One of his biggest wins:
Li Lu invested in BYD, a struggling Chinese EV and battery company, when no one believed in it.
Today, BYD has grown reportedly over 3,000%, becoming one of the most successful investments of his career.
Li Lu invested in BYD, a struggling Chinese EV and battery company, when no one believed in it.
Today, BYD has grown reportedly over 3,000%, becoming one of the most successful investments of his career.
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From fleeing persecution to managing billions, Li Lu built his legacy on:
• Patience
• Big, bold bets
• Deep research
• Knowing himself
Success isn’t luck—it’s discipline.
What are your thoughts on Li Lu and his investing principles?
Let me know below 👇🏼
• Patience
• Big, bold bets
• Deep research
• Knowing himself
Success isn’t luck—it’s discipline.
What are your thoughts on Li Lu and his investing principles?
Let me know below 👇🏼
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We're Zee & @thehowietan:
• Financially-free investors
• Co-founders of Kintsugi Investing
• Passionate about helping others build & repair portfolios
Follow @kintsugiinvest for our investing learnings
Like and Repost to help others grow too!⚡
• Financially-free investors
• Co-founders of Kintsugi Investing
• Passionate about helping others build & repair portfolios
Follow @kintsugiinvest for our investing learnings
Like and Repost to help others grow too!⚡
Kintsugi Investing@kintsugiinvest
Meet Li Lu.
Escaped Tiananmen Square, arrived in the US with $0.
Built a $15B fund that Charlie Munger invested in—even called him ‘the Chinese Warren Buffett.’
His investing principles: 🧵
Escaped Tiananmen Square, arrived in the US with $0.
Built a $15B fund that Charlie Munger invested in—even called him ‘the Chinese Warren Buffett.’
His investing principles: 🧵
13
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• Learn strategies for asymmetrical gains in the market
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• Or even just to get started investing.
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If you’re looking to:
• Learn strategies for asymmetrical gains in the market
• Gain perspective on the outlook of 2025.
• Or even just to get started investing.
Don’t forget to join us!
x.com/i/spaces/1YqGo…