📖Li Lu
Multidisciplinary Thinking
Use insights from multiple disciplines for better decisions.
Draw insights from multiple disciplines — psychology, history, mathematics, and science — to build a lattice of mental models for better investment decisions.
🏠 Everyday Analogy
📖 Core Interpretation
Li Lu highlights that many investment mistakes are psychological, not analytical. Managing behavior under stress is as important as finding ideas.
💎 Key Insight：Cross-disciplinary thinking reveals patterns invisible to specialists.
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❓ Why It Matters
In volatile markets, fear and greed push investors to buy high and sell low. A behavioral framework reduces avoidable, self-inflicted errors.
🎯 How to Practice
Pre-write decision rules, slow down trades during stress, and separate market emotion from business facts before adjusting positions.
⚠️ Common Pitfalls
Following crowd emotion at extremes
Mistaking confidence for certainty
Forcing trades to quickly recover losses
📚 Case Studies
1
BYD Investment with Berkshire (2008)
Li Lu introduced Warren Buffett to BYD, investing when markets doubted Chinese automakers and battery technology, focusing on electric vehicles and energy storage.
✨ Outcome：BYD’s value multiplied over the following decade, becoming one of the world’s leading EV and battery companies, validating the long-term China opportunity.
2
Hainan Airlines Investment (1998)
Li Lu invested in Hainan Airlines when it faced financial distress, focusing on long‑term business value rather than market pessimism.
✨ Outcome：The airline recovered and expanded; the investment compounded significantly, illustrating owner mentality and patience.
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