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" You can't imagine a free market coupled with a dictatorship. "
Li Lu
Imagine
Market
You
Related Quotes:
" With free market and free man, if you remove one of them, it is not called capitalism in my dictionary. "
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Capitalism
Dictionary
You
" For the vast majority of mankind's history, economic activity consisted of finding energy and using energy. "
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Economic
Energy
Finding
" Politically, China suppresses its people, but because the government allows some freedom in economic matters, business has become the ultimate expression of individuality. "
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People
Business
Freedom
" Mao Zedong's way was to make people crazy. It was like a religious cult. "
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Make
People
Way
" I graduated from Columbia University in 1996 and founded my investment company in 1997, thus starting my professional investment career. "
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Investment
Professional
Thus
" Free market never succeeded without free men and free society. "
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Without
Men
Free
" Management is always part of the equation of making the company successful, so the quality of management always matters. "
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Quality
Successful
Company
" 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. "
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Society
Success
People
" 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. "
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Edge
Better
You
" 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. "
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Personality
You
Own
" 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
" I was born and grew up in China during the 1960s. "
Li Lu
Born
1960s
Up
" Rock and roll was a revelation for me. "
Li Lu
Me
Rock
Rock And Roll
" 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. "
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New
Name
Language
" 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
" 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
" Management always has a big influence on your success, no matter how good or how bad the business is itself. "
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Business
Bad
Success
" A 'competence' that has no defined borders cannot be called a true competence. "
Li Lu
True
Cannot
Borders
" No dictatorship can be sustained within the context of an information revolution. "
Li Lu
Dictatorship
Information
Revolution
" Without a free man, there is no free market. That's called exploitation. "
Li Lu
Market
Without
Man
" 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
" 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
" Whatever you are is because of what your ancestors have done. "
Li Lu
Ancestors
You
Done
" 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
" 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
" Everyone has blind spots, and even the brightest people are no exceptions. "
Li Lu
Exceptions
Blind
People
" 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
" 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
" 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
" Tiananmen did not fail. "
Li Lu
Fail
Did