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" 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
Never
Student
Money
Related Quotes:
" Only by a process of peaceful evolution can China accomplish its own goals of being a free, prosperous, and strong country. "
Li Lu
Process
Strong
Goals
" Mao Zedong's way was to make people crazy. It was like a religious cult. "
Li Lu
Make
People
Way
" I was a college student in 1989 when I participated in the demonstration at Tiananmen Square. I was one of the organizers. "
Li Lu
Demonstration
College
Square
" 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
New
Name
Language
" With free market and free man, if you remove one of them, it is not called capitalism in my dictionary. "
Li Lu
Capitalism
Dictionary
You
" All companies incur expenses, some of which are fixed and bear no relation to sales volumes. In this way, profits can grow at a faster rate than sales. "
Li Lu
Some
Bear
Expenses
" Management is always part of the equation of making the company successful, so the quality of management always matters. "
Li Lu
Quality
Successful
Company
" I think we Chinese are just as capable, as diligent, as hardworking, as peace-loving, and as creative as people everywhere. "
Li Lu
Just
Capable
Creative
" 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
Society
Success
People
" I was born and grew up in China during the 1960s. "
Li Lu
Born
1960s
Up
" I graduated from Columbia University in 1996 and founded my investment company in 1997, thus starting my professional investment career. "
Li Lu
Investment
Professional
Thus
" For the vast majority of mankind's history, economic activity consisted of finding energy and using energy. "
Li Lu
Economic
Energy
Finding
" 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
Personality
You
Own
" In my 40s, the two cultures finally came to peace with one other inside me, and I have come to identify myself as both 100% Chinese and 100% American simultaneously. "
Li Lu
Two
Myself
Me
" Rock and roll was a revelation for me. "
Li Lu
Me
Rock
Rock And Roll
" 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
What You Love
Game
Love
" Whatever you are is because of what your ancestors have done. "
Li Lu
Ancestors
You
Done
" At various stages in my life, I could have stopped, or took the long rest. For some reason, my heart told me otherwise. I just kept going. Half of the time, I wasn't sure where I was heading. The other half, I was probably taking the wrong turns. No matter. "
Li Lu
Heart
My Life
Rest
" No dictatorship can be sustained within the context of an information revolution. "
Li Lu
Dictatorship
Information
Revolution
" Everyone has blind spots, and even the brightest people are no exceptions. "
Li Lu
Exceptions
Blind
People
" Free market never succeeded without free men and free society. "
Li Lu
Without
Men
Free
" Tiananmen did not fail. "
Li Lu
Fail
Did
" I was born in April of 1966, on the eve of the Cultural Revolution. Soon after, my parents and grandparents all lost personal freedom simply for being intellectuals. So I spent most of my childhood rotating between adopted families of peasants and coalminers. "
Li Lu
Revolution
Childhood
Freedom
" 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
Loss
Look
Opportunity
" 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
People
Business
Freedom
" The whole thing is, really, money makes money. That's the whole thing about capitalism. Without the capital, there is no -ism. "
Li Lu
Capitalism
Without
Money
" You can't imagine a free market coupled with a dictatorship. "
Li Lu
Imagine
Market
You
" Management always has a big influence on your success, no matter how good or how bad the business is itself. "
Li Lu
Business
Bad
Success
" Investing is about intellectual honesty. You want to know what you know. You want to know, mostly, what you don't know. "
Li Lu
Honesty
You
Want
" I have three lovely children. They are beautiful, talented, and kind-hearted. I'm most proud of them. I love them so much that I will never want to burden them with a large amount of inherited wealth. "
Li Lu
Beautiful
Love
Wealth