Charlie Munger on Li Lu the ‘Chinese Warren Buffett.’ | [C:C.M Ep.36]

In this episode, Charlie Munger was asked on what did he see in Li Lu versus other investors in China? And how similar or different is Li Lu versus Todd Combs and Ted Weschler?

In this episode, you’ll learn:
– What is Charlie Munger comments on Li Lu?
(https://www.yapss.com/post/collection-charlie-munger-36-li-lu-the-chinese-warren-buffett)

#CharlieMunger #DailyJournalCorporation #LiLu

[Transcript]
(Source: https://youtu.be/X1Oi3esiry8)

AUDIENCE MEMBER 00:08
What did you see in Li Lu versus other investors in China? Because in his biography it looks like he’s more of an outsider. And how similar or different is he versus Todd Combs and Ted Weschler? And can you comment on like last year you gave interview with him in China, is there any reason why you gave that interview last year?

CHARLIE MUNGER 00:31
Well I did it because he asked me and I sometimes do that, I am foolish that way. And I said what I believed when they asked me the questions.

The answer is Li Lu is not a normal. He’s the Chinese Warren Buffett. He’s very talented. Of course I’ve enjoyed bagging him, but it’s interesting that way. I’m ninety five years, I’ve given Munger money to some outsider to run once in ninety five years. And it’s Li Lu, and of course he’s hit it out of the park. It’s very remarkable but it’s also pretty picky.

And of course once I’ve got Li Lu if I’m comparing to him, who else am I going to pick? And by the way that’s a good way to make decisions and that’s what we do. If we’ve got one thing we can do more of, we’re not interested in anything that’s not better than that. That simplifies life a great deal because there aren’t that many people better than Li Lu. So I just sit. It’s amazing how intelligent it is to spend some time just sitting. A lot of people are way too active.