Luke Posted June 15, 2023 Share Posted June 15, 2023 (edited) This is a story told by Mohnish Pabrai in one of his videos. Li Lu moved to the US due to China threatening him for taking part in the protests that led to the tiananmen square massacre (not really moving, he got funneled with support to survive and dont go to prison). Then he started studying again in the US(already got a chinese degree) and during his study he used the student loan FLOAT that he had for a few months (until he had to pay it back) to invest it into the stock market. Apparently after finishing multiple degrees after 3 years, he was already a millionaire by that time due to returns on the short term float. This all was around 1990-1995, a million was quite more than it is today. To me this sounds unreal and to good to be true but his results obviously speak for themselves. As of today he has around 18b under management, around 3b we can see of US holdings (Micron, Alphabet etc you know it). What do you think of this story? Everything i read about Li Lu was very impressing to me, very private investor though and little information and talks available unfortunately. Greetings to Li Lu and lets hope he publishes more of his wisdom! Edited June 15, 2023 by Luca Link to comment Share on other sites More sharing options...
Luke Posted June 15, 2023 Author Share Posted June 15, 2023 I contacted their fund a year ago, was closed and sometimes open for endowments and family offices but was possible to leave name and they might reach out. I expect huge minimum investments if one can even get in, so isnt anything for me. Would really love to know his returns since inception, if anybody has more detail and is allowed to share please do. Link to comment Share on other sites More sharing options...
Malmqky Posted June 15, 2023 Share Posted June 15, 2023 If I remember correctly Munger has some money with Li Lu. I recommend checking out any recordings of his lectures at Columbia you can find. You probably won't learn anything new, but you'll understand him more as a person and what he's all about. Link to comment Share on other sites More sharing options...
Luke Posted June 15, 2023 Author Share Posted June 15, 2023 (edited) 6 minutes ago, Malmqky said: If I remember correctly Munger has some money with Li Lu. I recommend checking out any recordings of his lectures at Columbia you can find. You probably won't learn anything new, but you'll understand him more as a person and what he's all about. Yes i heard that in a talk too that he has a few hundred million with himalaya. Wasnt it that Li Lu made Munger a pretty impressive return very quickly or something? I watched the one lecture released 2 years ago but should revisit, great stuff! Edited June 15, 2023 by Luca Link to comment Share on other sites More sharing options...
Malmqky Posted June 15, 2023 Share Posted June 15, 2023 4 minutes ago, Luca said: Yes i heard that in a talk too that he has a few hundred million with himalaya. Wasnt it that Li Lu made Munger a pretty impressive return very quickly or something? I watched the one lecture released 2 years ago but should revisit, great stuff! You may being thinking of BYD, which was a Li Lu idea! Link to comment Share on other sites More sharing options...
Luke Posted June 15, 2023 Author Share Posted June 15, 2023 6 minutes ago, Malmqky said: You may being thinking of BYD, which was a Li Lu idea! I mean that munger said somewhere that his initial investment with himalaya went up a considerate amount already since the start. I dont remember where he said it but somewhere to be found, i also think he mentions the exact number. Link to comment Share on other sites More sharing options...
Monsieur_dee Posted June 15, 2023 Share Posted June 15, 2023 53 minutes ago, Luca said: Just off the top of my head I remember when he bought and sold Tenneco. Maybe 80 million and gave it to Li . He turned it into 400 million... That was from maybe the 2018/2019 djco meeting . I wish we could access what he's buying in China. Or even his letters I'd he happy with 1 Link to comment Share on other sites More sharing options...
gfp Posted June 15, 2023 Share Posted June 15, 2023 26 minutes ago, Monsieur_dee said: Just off the top of my head I remember when he bought and sold Tenneco. Maybe 80 million and gave it to Li . He turned it into 400 million... That was from maybe the 2018/2019 djco meeting . I wish we could access what he's buying in China. Or even his letters I'd he happy with You can see a couple of the names Himalaya owns on the HK exchange by searching - https://di.hkex.com.hk/di/NSSrchPersonList.aspx?sa1=pl&scsd=16/06/2016&sced=16/06/2023&pn=Himalaya&src=MAIN&lang=EN&g_lang=en Link to comment Share on other sites More sharing options...
Monsieur_dee Posted June 16, 2023 Share Posted June 16, 2023 7 hours ago, gfp said: You can see a couple of the names Himalaya owns on the HK exchange by searching - https://di.hkex.com.hk/di/NSSrchPersonList.aspx?sa1=pl&scsd=16/06/2016&sced=16/06/2023&pn=Himalaya&src=MAIN&lang=EN&g_lang=en Thank you! Link to comment Share on other sites More sharing options...
competitive-advantage Posted June 16, 2023 Share Posted June 16, 2023 Munger allows Li Lu to invest a significant amount of money on his behalf. Munger has also made comments about Li Lu 'fishing where the fish are' - in China. He seems to have gained a great advantage from this during his career. I have watched many of Li Lu's speeches and I don't recall him ever bragging. He appears very intelligent and is willing to share his insights. I'm not sure about the exact numbers and if Li Lu ever told this story by himself, but when I listen to how he works it seems like he could make pretty outstanding returns. The video below mentions +19% for his funds during the years. I found the video below about a Timberland investment that made Li Lu 600% in 2 years and the tweet that is mentioned in the video: Link to comment Share on other sites More sharing options...
Luke Posted June 16, 2023 Author Share Posted June 16, 2023 33 minutes ago, competitive-advantage said: Munger allows Li Lu to invest a significant amount of money on his behalf. Munger has also made comments about Li Lu 'fishing where the fish are' - in China. He seems to have gained a great advantage from this during his career. I have watched many of Li Lu's speeches and I don't recall him ever bragging. He appears very intelligent and is willing to share his insights. I'm not sure about the exact numbers and if Li Lu ever told this story by himself, but when I listen to how he works it seems like he could make pretty outstanding returns. The video below mentions +19% for his funds during the years. I found the video below about a Timberland investment that made Li Lu 600% in 2 years and the tweet that is mentioned in the video: Very nice article thanks for sharing! Link to comment Share on other sites More sharing options...
Ulti Posted August 14, 2023 Share Posted August 14, 2023 https://www.dataroma.com/m/holdings.php?m=HC increased EWBC 20% Link to comment Share on other sites More sharing options...
backtothebeach Posted August 14, 2023 Share Posted August 14, 2023 …and also sold MU 20% of portfolio. MU - Micron Technology Inc. Sell 100.00% 6,826,079 Link to comment Share on other sites More sharing options...
Luke Posted August 15, 2023 Author Share Posted August 15, 2023 10 hours ago, backtothebeach said: …and also sold MU 20% of portfolio. MU - Micron Technology Inc. Sell 100.00% 6,826,079 His AUM are around 18b, so Micron wasnt that big of a position but yeah Link to comment Share on other sites More sharing options...
UK Posted September 7, 2023 Share Posted September 7, 2023 https://www.ft.com/content/5308cd9f-037e-4524-a6d8-7388b3514199 No other investor has a life story quite as unbelievable as Li Lu/How a radical who fled Tiananmen made billions betting on China. Link to comment Share on other sites More sharing options...
Luke Posted September 7, 2023 Author Share Posted September 7, 2023 29 minutes ago, UK said: https://www.ft.com/content/5308cd9f-037e-4524-a6d8-7388b3514199 No other investor has a life story quite as unbelievable as Li Lu/How a radical who fled Tiananmen made billions betting on China. Great Article! Link to comment Share on other sites More sharing options...
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