Li Lu

Everyone has blind spots, and even the brightest people are no exceptions.

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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.

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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.

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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.

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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?

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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.

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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.

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Quotes by Li Lu