48 citations intemporelles sur l'investissement et la vie
"The essence of value investing is buying a business for less than it is worth."
— Li Lu
"The real risk in investing is the permanent loss of capital, not volatility."
— Li Lu
"You have to be genuinely intellectually curious to be a good investor."
— Li Lu
"Understand the business deeply before investing. Read everything available. Talk to customers and competitors."Lire l'Analyse Complète →
"Stay within your circle of competence. Only invest in what you truly understand."Lire l'Analyse Complète →
"China represents one of the greatest investment opportunities of our time. Understand its unique dynamics."Lire l'Analyse Complète →
"Think like an owner, not a trader. Would you want to own this entire business?"Lire l'Analyse Complète →
"If you truly understand a business, concentrate. A few great investments beat many mediocre ones."Lire l'Analyse Complète →
"Think in decades, not quarters. The best returns come from long-term compounding."Lire l'Analyse Complète →
"Always demand a margin of safety. Pay less than intrinsic value to protect against errors."Lire l'Analyse Complète →
"Identify businesses with sustainable competitive advantages. The moat protects your investment."Lire l'Analyse Complète →
"Invest with honest, capable management. Character matters as much as competence."Lire l'Analyse Complète →
"Be honest about what you know and dont know. Admitting ignorance is the beginning of wisdom."Lire l'Analyse Complète →
"Never overpay for a security, no matter how exciting the story. The price you pay determines your return. Discipline in valuation is the foundation of investment success."Lire l'Analyse Complète →
"Always estimate the intrinsic value of a business before investing. Compare price to value, not price to past price. The gap between price and value is where profits are made."Lire l'Analyse Complète →
"Use conservative assumptions in your valuation. Optimistic projections lead to overpaying. It is better to underestimate value and be pleasantly surprised than to overestimate and be disappointed."Lire l'Analyse Complète →
"Invest in businesses with durable competitive advantages, strong cash flows, and management integrity. Quality businesses compound wealth over time and reduce downside risk."Lire l'Analyse Complète →
"The most successful investors stay within their circle of competence. Know what you understand well and resist the temptation to venture outside it."Lire l'Analyse Complète →
"Surface-level knowledge is dangerous in investing. Develop deep expertise in your areas of focus. True understanding means knowing what could go wrong."Lire l'Analyse Complète →
"Markets are driven by fear and greed. The disciplined investor exploits these emotions rather than being controlled by them. Emotional control is the key competitive advantage."Lire l'Analyse Complète →
"Understanding crowd psychology is essential. When everyone agrees, the opportunity has usually passed. The best time to act is when the crowd is most fearful or most confident."Lire l'Analyse Complète →
"The best investments often feel uncomfortable because they go against popular opinion. If everyone loves a stock, it's probably overpriced. If everyone hates it, investigate."Lire l'Analyse Complète →
"Before considering how much you can make, consider how much you can lose. Risk management is not about avoiding risk entirely, but about understanding and controlling it."Lire l'Analyse Complète →
"The size of your position should reflect your conviction and the risk involved. Never bet so large that a single mistake can wipe out your portfolio."Lire l'Analyse Complète →
"In a world obsessed with quarterly results, patience is the ultimate competitive advantage. Great investments often take years to play out fully."Lire l'Analyse Complète →
"Compound interest is the eighth wonder of the world. Those who understand it earn it; those who don't, pay it. Time is the most valuable asset in investing."Lire l'Analyse Complète →
"The cardinal rule of investing: buy only when the price is significantly below your conservative estimate of intrinsic value. This builds in protection against error."Lire l'Analyse Complète →
"The stock market is a no-called-strike game. You don't have to swing at every pitch. Wait for the fat pitch — the opportunity that offers exceptional risk-reward."Lire l'Analyse Complète →
"Have clear, pre-defined sell criteria. Sell when: your thesis is broken, valuation is fully realized, or a significantly better opportunity appears."Lire l'Analyse Complète →
"Regularly review whether your original reasons for owning a stock still hold. If the facts change, change your mind. Holding a broken thesis is the costliest mistake."Lire l'Analyse Complète →
"After every sell, review the outcome. Did you sell too early, too late, or at the right time? Post-mortems on sell decisions improve future judgment."Lire l'Analyse Complète →
"Draw insights from multiple disciplines — psychology, history, mathematics, and science — to build a lattice of mental models for better investment decisions."Lire l'Analyse Complète →
"Think in probabilities, not certainties. Every investment has a range of possible outcomes. Weight your decisions by the expected value of each scenario."Lire l'Analyse Complète →
"Instead of asking how to succeed, ask how to avoid failure. Inverting problems often reveals insights that forward thinking misses."Lire l'Analyse Complète →
"A clear investment philosophy provides an anchor in turbulent times. Know what you believe, why you believe it, and stick to it when tested."Lire l'Analyse Complète →
"Focus on process, not outcomes. A good process can produce bad outcomes in the short run, but will generate superior results over time."Lire l'Analyse Complète →
"Develop your own investment philosophy through study and experience. Copying others without understanding why leads to confusion when strategies are tested."Lire l'Analyse Complète →
"Evaluate management by their actions, not their words. Look for a track record of capital allocation, shareholder communication, and aligned incentives."Lire l'Analyse Complète →
"The principles that make you a great investor — patience, discipline, humility, and continuous learning — are the same principles that lead to a great life."Lire l'Analyse Complète →
"The best investors never stop learning. Read voraciously, study history, learn from mistakes, and stay curious about the world. Knowledge compounds like interest."Lire l'Analyse Complète →
"Reputation takes a lifetime to build and moments to destroy. In investing and in life, integrity is the most valuable asset you can possess."Lire l'Analyse Complète →
"The ideal investment is a high-quality business purchased at a fair price. Quality compounds wealth; fair prices protect capital."Lire l'Analyse Complète →
"Never invest in a business you cannot explain in simple terms. If you can't describe why a company is valuable, you don't understand it well enough to own it."Lire l'Analyse Complète →
"Look for investments where a specific catalyst will unlock value. Without a catalyst, even cheap stocks can remain undervalued indefinitely."Lire l'Analyse Complète →
"The greatest enemy of the investor is himself. Fear, greed, regret, and pride cause more losses than any economic event. Master your emotions to master the market."Lire l'Analyse Complète →
"Know the common behavioral biases that trap investors: anchoring, confirmation bias, loss aversion, and herding. Awareness is the first step to prevention."Lire l'Analyse Complète →
"The market exists to serve you, not to guide you. Use market prices to your advantage — buy when the market offers bargains and sell when it offers premiums."Lire l'Analyse Complète →
"Markets move in cycles driven by human emotion. Understanding where you are in the cycle helps you prepare for what comes next and position accordingly."Lire l'Analyse Complète →
"A systematic approach to investing removes emotion and ensures consistency. Document your process, follow your rules, and review regularly."Lire l'Analyse Complète →
"Use an investment checklist to ensure you don't skip critical steps. Aviation-style checklists prevent costly oversights in investment analysis."Lire l'Analyse Complète →
"Review every investment decision — wins and losses — to improve your system. The best investors treat investing as a craft that can always be refined."Lire l'Analyse Complète →
"The essence of value investing is buying a business for less than it is worth."
Nous avons sélectionné 48 citations vérifiées de Li Lu, chacune avec attribution de source et analyse approfondie.
Li Lu frequently discusses value investing, risk management, and long-term thinking.