For the vast majority of mankind's history, economic activity consisted of finding energy and using energy. Li Lu More Quotes by Li Lu More Quotes From Li Lu Investing is about predicting the future, and the future is inherently unpredictable. Therefore, the only way you can do better is to assess all the facts and truly know what you know and know what you don't know. That's your probability edge. Li Lu better you future way No dictatorship can be sustained within the context of an information revolution. Li Lu information revolution dictatorship The game of investing is a process of discovering who you are, what you're interested in, what you're good at, what you love to do, then magnifying that until you gain a sizable edge over all the other people. Li Lu good you love people Whatever you are is because of what your ancestors have done. Li Lu whatever your you done I think we Chinese are just as capable, as diligent, as hardworking, as peace-loving, and as creative as people everywhere. Li Lu just think creative people In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks? Li Lu view look you opportunity The financial crisis of 2008-09 was in large part the result of the so-called 'success' of people who did not understand their fiduciary duty. This kind of 'success' is extremely harmful to all of society. Li Lu understand society success people Politically, China suppresses its people, but because the government allows some freedom in economic matters, business has become the ultimate expression of individuality. Li Lu freedom government business people Without a free man, there is no free market. That's called exploitation. Li Lu market without free man When I first came to Columbia University, I was dirt poor. I did not choose to come here - I just ended up here because I had nowhere else to go, having just escaped from China after Tiananmen. I was in a new country where I didn't understand the language, didn't know anybody, and didn't have a penny to my name. So I was desperate and afraid. Li Lu name understand language country I grew up in Communist China and never had much money to my name, and then, all of a sudden, I had giant student loans. Li Lu name student never money Part of the game of investing is to come into your own. You must find some way that perfectly fits your personality because there is some element of a zero sum game in investing. If you buy, somebody else has to sell. And when you sell, somebody has to buy. You can't both be right. Li Lu game you personality way Rock and roll was a revelation for me. Li Lu roll rock me rock-and-roll To us, anyone who opposes dictatorship is our friend. Those who support it, our enemy. Li Lu friend support dictatorship enemy Tiananmen did not fail. Li Lu fail did Free market never succeeded without free men and free society. Li Lu free never society men You can't imagine a free market coupled with a dictatorship. Li Lu free you imagine dictatorship Mao Zedong's way was to make people crazy. It was like a religious cult. Li Lu like crazy people way The whole thing is, really, money makes money. That's the whole thing about capitalism. Without the capital, there is no -ism. Li Lu without about capitalism money With free market and free man, if you remove one of them, it is not called capitalism in my dictionary. Li Lu free you man capitalism
