Please be patient and understanding when interacting with others, and avoid getting frustrated or upset if someone does not respond to your posts or if a discussion does not go as you expected. Remember that everyone is entitled to express their own perspectives. Furthermore, even when you don't entirely agree, try to benefit in some way from it.
- Manlobbi
Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
No. of Recommendations: 6
https://www.ft.com/content/5308cd9f-037e-4524-a6d8...Very sorry, but subscription will be required. It's a very long story on the life of Li Lu.
Just a snippet:
"In 2003, Li was invited to Thanksgiving lunch at the Santa Barbara home of a woman he'd met through human rights work. The host's husband was a director at Berkshire Hathaway, the conglomerate Buffett built up as he became the most successful investor in the history of capitalism. Charlie Munger, Berkshire's vice-chair and Buffett's right-hand man, was there too. Munger and Li struck up a conversation about stocks and were still talking a few hours later".
How come, I'm never invited to such prties?
Enjoy,
Astore
No. of Recommendations: 2
<How come, I'm never invited to such prties?>
You could invite Jim for a really nice dinner when he comes to the US.
No. of Recommendations: 3
"You could invite Jim for a really nice dinner when he comes to the US."
Would be a really cool idea to get like minded investors here together in person. Maybe a dinner at the next Annual meeting?
I would be glad to help organize it. I haven't been to an Annual Meeting in more than 20 years.
No. of Recommendations: 0
Let Jim know you want to talk about tontines! (I do.)I'm still hoping we can get one together with Jim and I win! (I'll likely be 95 when I "win" and end up spending it all on a marble-building with my ashes in an urn but with 24-hour surveillance video being broadcast forever on the web.)
I just like the idea and how Jim has thought through so many of the possibilities. I imagine Jim to be an erudite and entertaining guest.
SD
No. of Recommendations: 7
Intercst posted this article on the other site:
Charlie Munger invested nearly $90 million of his family fortune with Li Lu. The 'Chinese Warren Buffett' has turned it into about $400 million.
https://finance.yahoo.com/news/charlie-munger-inve...Charlie Munger handed $88 million to Li Lu when the value investor launched a new fund in 2004.
Warren Buffett's right-hand man says he's made four or five times his money since then.2004 - now:
SPY $519
BRK.b $563
Charlie might have been better off investing in ...Berkshire!
(Just in fun - I also would have done better by putting everything in Berkshire).
No. of Recommendations: 0
It is my understanding he has $18bn AUM, on Dataroma it shows 1.8bn invested in the US, does anyone know where the other 90% is invested, China?
No. of Recommendations: 0
'Charlie Munger invested nearly $90 million of his family fortune with Li Lu. The 'Chinese Warren Buffett' has turned it into about $400 million.'
Only 8-8.5% compounded over 19 years- less than I would have thought but realize most Chinese equities are down in recent years.
No. of Recommendations: 0
Looking on Tikr which tracks non US filings the only addition to Himalaya Capitals portfolio in addition to the US listings is;
Postal Savings Bank of China Co Ltd of which it states it's a 30% position at $791m, the other holdings listed are as per Dataroma BOA and Alphabet etc.
This suggests total AUM of c$2.5bn.
Postal savings bank 5 year chart.
https://www.google.com/search?q=postal+savings+ban...
