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#LiLu Fireside Chat - Value Investing in China
Columbia Business School
The philosophy of value investing is relatively simple. The practice is hard.
In the beginning I looked for value on the balance sheet (cigar butts). In time that evolved. /1
Columbia Business School
The philosophy of value investing is relatively simple. The practice is hard.
In the beginning I looked for value on the balance sheet (cigar butts). In time that evolved. /1
Greatest input from Charlie Munger was beyond investing - it was a role model in life. "My role model has never failed me and has continued to inspire me." /2
To retain rational compulsion and common-sensical approach is extremely hard and against natural tendencies.
Long term compounders are also against the natural order; trick is to own them for long periods but best to buy them at a discount to intrinsic value. /3
Long term compounders are also against the natural order; trick is to own them for long periods but best to buy them at a discount to intrinsic value. /3
