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...
