Li Lu’s Four Basic Principles of Value Investing

Li Lu is undoubtedly one of the most under-appreciated investors. The founder and Chairman of Himalaya Capital Management established his firm in 1997 based on the principles laid out by Benjamin Graham. Lu is a close friend of Charlie Munger and was once thought to be in-line to succeed Warren Buffett as the chief investment manager of Berkshire Hathaway. He’s also the only fund manager whom Munger has trusted with some of his personal fortune. Himalaya is one of the three investments Munger holds in his personal portfolio, alongside Berkshire and Costco. Li Lu lecture at the Guanghua School of…