Methodologies, Value Investing

Excellent Post on Li Lu

There is an excellent post on Li Lu here. Great read. Some key takeaways:

  1. Really solid due diligence that is done for investments. He plows through court documents, visited the community of the managers, goes to their Church, their Synagogue, talk to the people that they know, talk to their friends and neighbours, find out about the management’s personality, went to sit on the same Board of other companies to get to know the COO, flew to Korea to look at a Korean department store, checked the property transaction prices of the property around the Korean department store. Reminds me of the due diligence that Eddie Lampert did when he bought into Autozone, he sent his employees to Autozone stores around the country and pretended to be disgruntled customers to see how Autozone’s staff reacted.
  2. When an investment opportunity comes, you have to seize it. Devote day and night so you can act quickly. Do everything complete but do it fast. You have to train yourself to jump on opportunity.


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