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Warren Watch: Munger, Li Lu & Other BRK-Related Stuff


Parsad
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people have a link to li lu's sec filings?

Apparently his fund focuses on international opportunities these days. His old fund (Himalaya Capital) doesn't appear to have made any filings with the SEC and his new fund (LL Investment Partners) hasn't either. The only investment of record that he appears to have made is a 2% stake in BYD.
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I contacted Li Lu recently to see if I could send him money to invest. His funds have been closed to new investors for 6 years.  :(

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according to the preface he wrote for the Chinese version of Poor Charlie Almanack, he indicated that his returns from 1998 to now is 29% annual return, from 2004 to the end of 2009, annual return is 36%...

 

cheers..

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on bloomberg it shows that LL Group own 7% of 1211.HK (BYD)

MID AMERICAN own 28.37%

 

there are other listing though in the US

 

I believe LL Group owns about 2% of BYD. and Mid-American is 9.9% or something.

 

There are shares traded in Hong Kong (H Shares) and mainland China shares.  The percentages you note are purely of the H shares, I think.

 

 

 

 

Anyone know if LL Group's performance numbers are gross or net?

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according to the preface he wrote for the Chinese version of Poor Charlie Almanack, he indicated that his returns from 1998 to now is 29% annual return, from 2004 to the end of 2009, annual return is 36%...

 

cheers..

What else did he talk about?  

 

Great article from 1998

http://www.observer.com/node/40526

"With the Dow Jones average rising above 9,000, the latest financial district jokes and clichés liken good investing to good sex. Mr. Li considered the comparison. "This market is not a man's sex drive," he said. 'If you had to compare it, this market is a woman's sex drive. It is really experiencing a multiple climax, but even the woman has downtime. The traditional Chinese sentiment is that the woman has the capacity to climax 15 times. The market is turning into the traditional description of the woman's sex drive. My girlfriend is around that number.'"

 

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according to the preface he wrote for the Chinese version of Poor Charlie Almanack, he indicated that his returns from 1998 to now is 29% annual return, from 2004 to the end of 2009, annual return is 36%...

 

cheers..

What else did he talk about?  

 

 

well, he also described his relationship with munger, how they met, and how he learned from munger, how munger ended up being his investor, influencing him to change from the Julian Robertson style to long-only style, how they have breakfast meeting, etc, etc...

 

anyway, what i get from his writings in chinese is that he has alot of respect for munger.  Munger taught him not just on investing, but how to be a good person.......

 

For those who can read Chinese, I'm sure you can find this Poor Charlie preface online....

 

Cheers...

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