TIP636: Billionaire Investing Legend Li Lu w/ Clay Finck

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 9 June 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, Clay dives into the investment approach of billionaire value investor Li Lu. Li Lu is the Founder and Chairman of Himalaya Capital, a value investing firm where he has been managing its principal fund since 1997. Before his passing in 2023, Charlie Munger was an investor in the fund. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:27 - The back story of Li Lu’s early life. 06:46 - Li Lu’s investment philosophy. 08:28 - The four key investment principles he adheres to. 29:36 - Li Lu’s view on investing in China. 44:52 - An overview of Alphabet, one of Li Lu’s top holdings. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Li Lu’s book: Moving the Mountain. Check out: FT Magazine Article. Check out: Li Lu’s 2006 talk at Columbia. Related Episode: RWH008: Playing to Win w/ Mohnish Pabrai | YouTube video. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Sun Life Range Rover AFR The Bitcoin Way Meyka CI Financial Industrious Fidelity Long Angle Briggs & Riley AFR Fundrise iFlex Stretch Studios Public NDTCO American Express Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.0	Hey everybody, welcome to the investors podcast.
0:05.0	I'm your host, Clay Fink, and today I'm going to be sharing what I learned from studying
0:10.0	the investment approach of billionaire value investor Lee Lou.
0:14.0	Lee Lou is the founder and chairman of Himalaya Capital,
0:17.5	which is a multi-billion dollar investment firm that primarily focuses on long-term investment opportunities in Asia and the U.S.
0:25.6	Himalaya Capital was started by Lelu back in 1997 and as of September 2023 it looks like the firm
0:32.3	manages around $14 billion in assets.
0:36.4	Lailoo is well known for being close friends with Charlie Munger and Monish-Pabry and he rarely
0:41.5	does public appearances, so during this episode I'm going to be sharing
0:44.9	what I found after scouring through all publicly available resources I could get my hands on.
0:50.9	In fact when Charlie Munger recently passed away, part of his 2.5 billion dollar
0:55.8	fortune was invested with Lee Lou, who he referred to as the Chinese Warren Buffett.
1:01.4	With that, let's get right to it.
1:05.0	Celebrating 10 years and more than 150 million downloads.
1:10.0	You are listening to the Investors Podcast Network.
1:13.4	Since 2014, we studied the financial markets and read the books that
1:17.8	influence self-made billionaires the most.
1:20.2	We keep you informed and prepared for the unexpected.
1:23.0	Now for your host, Clay Fink. So I wanted to kick this episode off and just share what's on Himalayah Capital's
1:39.5	website at the top they share a quote from Charlie Munger on the seamless web of deserved trust.
1:45.7	I quote, the highest form which civilization can reach is a seamless web of deserved trust.
	...

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