Li Lu
Encyclopedia
Li Lu
is a Chinese-American investment banker and fund manager. He is the founder and Chairman of Himalaya Capital Management. He was one of the student leaders of the 1989 Tiananmen Square student protests
, an experience he recounted in a 1990 book, Moving the Mountain: My Life in China, that was the basis of a 1994 documentary by Michael Apted
.
, China. He was a survivor of 1976 Tangshan earthquake. In 1985, he went to Nanjing University
, majored in Physics but later transferred to Economics. In 1989, he participated in the Tiananmen Square student protests
and became one of the student leaders. He helped organize the students and participated in a hunger strike. He fled the PRC through Operation Yellowbird
.
After the crackdown of the movement, he left China and went to study at Columbia University
. In 1990, he published a book about his experience in China titled Moving the Mountain: My Life in China (ISBN 0-399-13545-6). The book was the basis of a 1994 feature-film documentary produced by Trudie Styler
and directed by Michael Apted
, which probed the origins of the 1989 protests in Tiananmen Square and the consequences of the movement in the lives of several of the movement's student leaders.
Li graduated from Columbia receiving three degrees simultaneously: a B.A. in Economics, a M.B.A. and a J.D. in 1996.
Li was inspired to get into banking after hearing Warren Buffett
, a Columbia alumnus, give a lecture at Columbia in 1993. Upon graduation, Li Lu worked in an investment bank
until late 1997, when he founded Himalaya Capital Management. From 1998 to 2004, he managed both a hedge fund
and a venture capital
fund. His fund suffered a 19% percent loss in 1998 from the Asian Financial Crisis. In late 2004, he transformed the hedge fund
into a long only investment vehicle, LL Investment Partners, LP, which is currently focused on global investment opportunities. Charlie Munger
, Vice-Chairman of Berkshire Hathaway
and a long-time partner of the legendary investor Warren Buffett
, is one of investors of his fund, and a “mentor and good friend” (in Li Lu’s own words). Li Lu has been known as the man who introduced the Chinese battery and auto maker BYD Company
to Charlie Munger and Warren Buffett. He is an informal advisor to BYD. His LL Investment Partners owns about 2.5% of BYD.
Li was rumored to be the front runner to manage a large portion of Berkshire Hathaway
's investment portfolio once Warren Buffett steps down. According to The Wall Street Journal
, Charlie Munger once said "it is a foregone decision" that Li Lu would be going to be a member of Berkshire's top investors team after Warren Buffett retires. This was also hinted several times in some conversations with Buffett. Li Lu decides to stay with his own firm, and Todd Combs from Castle Point Capital Management in Greenwich, Conn possibly becomes the chief investment officer at the Berkshire Hathaway.
In May 2010, Li Lu helped to translate and publish the Chinese version of Poor Charlie’s Almanack, The Wit and Wisdom of Charles T. Munger (ISBN 978-7-208-08994-5) in China and wrote a foreword for the book.
Li was named a global leader for tomorrow by the World Economic Forum
in 2001, and a Henry Crown fellow by the Aspen Institute
in 1998. He serves on the board of directors for Knovel
is a member of Council on Foreign Relations
and Young Presidents' Organization
.
is a Chinese-American investment banker and fund manager. He is the founder and Chairman of Himalaya Capital Management. He was one of the student leaders of the 1989 Tiananmen Square student protests
Tiananmen Square protests of 1989
The Tiananmen Square protests of 1989, also known as the June Fourth Incident in Chinese , were a series of demonstrations in and near Tiananmen Square in Beijing in the People's Republic of China beginning on 15 April 1989...
, an experience he recounted in a 1990 book, Moving the Mountain: My Life in China, that was the basis of a 1994 documentary by Michael Apted
Michael Apted
Michael David Apted, CMG is an English director, producer, writer and actor. He is one of the most prolific British film directors of his generation but is best known for his work on the Up Series of documentaries and the James Bond film The World Is Not Enough.On 29 June 2003 he was elected...
.
Biography
Li Lu was born and grew up in TangshanTangshan
"唐山"redirects here. For an alternative name of China, see Names of China#TangTangshan is a largely industrial prefecture-level city in Hebei province, People's Republic of China. It has become known for the 1976 Tangshan earthquake which measured 7.8 on the Richter scale and killed at least...
, China. He was a survivor of 1976 Tangshan earthquake. In 1985, he went to Nanjing University
Nanjing University
Nanjing University , or Nanking University, is one of the oldest and most prestigious institutions of higher learning in China...
, majored in Physics but later transferred to Economics. In 1989, he participated in the Tiananmen Square student protests
Tiananmen Square protests of 1989
The Tiananmen Square protests of 1989, also known as the June Fourth Incident in Chinese , were a series of demonstrations in and near Tiananmen Square in Beijing in the People's Republic of China beginning on 15 April 1989...
and became one of the student leaders. He helped organize the students and participated in a hunger strike. He fled the PRC through Operation Yellowbird
Operation Yellowbird
Operation Yellowbird or Operation Siskin , was a Hong Kong-based operation to help the Chinese dissidents who participated in Tiananmen Square protests of 1989 to escape arrest by the PRC government by facilitating their departure overseas via Hong Kong.After China's government announced the ...
.
After the crackdown of the movement, he left China and went to study at Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
. In 1990, he published a book about his experience in China titled Moving the Mountain: My Life in China (ISBN 0-399-13545-6). The book was the basis of a 1994 feature-film documentary produced by Trudie Styler
Trudie Styler
Trudie Styler is an English actress and producer. She is the second wife of the musician Sting.-Life and career:Styler was born in Bromsgrove, Worcestershire, England. She attended North Bromsgrove High School, where one of her teachers was Clifford T. Ward...
and directed by Michael Apted
Michael Apted
Michael David Apted, CMG is an English director, producer, writer and actor. He is one of the most prolific British film directors of his generation but is best known for his work on the Up Series of documentaries and the James Bond film The World Is Not Enough.On 29 June 2003 he was elected...
, which probed the origins of the 1989 protests in Tiananmen Square and the consequences of the movement in the lives of several of the movement's student leaders.
Li graduated from Columbia receiving three degrees simultaneously: a B.A. in Economics, a M.B.A. and a J.D. in 1996.
Li was inspired to get into banking after hearing Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
, a Columbia alumnus, give a lecture at Columbia in 1993. Upon graduation, Li Lu worked in an investment bank
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
until late 1997, when he founded Himalaya Capital Management. From 1998 to 2004, he managed both a hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
and a venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
fund. His fund suffered a 19% percent loss in 1998 from the Asian Financial Crisis. In late 2004, he transformed the hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
into a long only investment vehicle, LL Investment Partners, LP, which is currently focused on global investment opportunities. Charlie Munger
Charlie Munger
Charles Thomas Munger is an American business magnate, lawyer, investor, and philanthropist. He is Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by Warren Buffett; in that capacity, Buffett describes Munger as "my partner." Munger is also the...
, Vice-Chairman of Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
and a long-time partner of the legendary investor Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
, is one of investors of his fund, and a “mentor and good friend” (in Li Lu’s own words). Li Lu has been known as the man who introduced the Chinese battery and auto maker BYD Company
BYD Company
BYD Co Ltd is a Chinese manufacturer of automobiles and rechargeable batteries based in Shenzhen, Guangdong province.Hailed for its innovations, BYD has grown to become a major manufacturer of rechargeable batteries, most notably mobile phone batteries....
to Charlie Munger and Warren Buffett. He is an informal advisor to BYD. His LL Investment Partners owns about 2.5% of BYD.
Li was rumored to be the front runner to manage a large portion of Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
's investment portfolio once Warren Buffett steps down. According to The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
, Charlie Munger once said "it is a foregone decision" that Li Lu would be going to be a member of Berkshire's top investors team after Warren Buffett retires. This was also hinted several times in some conversations with Buffett. Li Lu decides to stay with his own firm, and Todd Combs from Castle Point Capital Management in Greenwich, Conn possibly becomes the chief investment officer at the Berkshire Hathaway.
In May 2010, Li Lu helped to translate and publish the Chinese version of Poor Charlie’s Almanack, The Wit and Wisdom of Charles T. Munger (ISBN 978-7-208-08994-5) in China and wrote a foreword for the book.
Li was named a global leader for tomorrow by the World Economic Forum
World Economic Forum
The World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
in 2001, and a Henry Crown fellow by the Aspen Institute
Aspen Institute
The Aspen Institute is an international nonprofit organization founded in 1950 as the Aspen Institute of Humanistic Studies. The organization is dedicated to "fostering enlightened leadership, the appreciation of timeless ideas and values, and open-minded dialogue on contemporary issues." The...
in 1998. He serves on the board of directors for Knovel
Knovel
Knovel is a private company headquartered in New York City. Knovel customers include more than 700 customers worldwide including 74 Fortune 500 companies and more than 400 leading universities....
is a member of Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
and Young Presidents' Organization
Young Presidents' Organization
The Young Presidents’ Organization is a global network of young chief executives. With approximately 18,000 members in more than 100 countries, YPO and its graduate organization, WPO share a founding mission: Better Leaders Through Education and Idea Exchange....
.
External links
- Moving the Mountain at the Internet Movie DatabaseInternet Movie DatabaseInternet Movie Database is an online database of information related to movies, television shows, actors, production crew personnel, video games and fictional characters featured in visual entertainment media. It is one of the most popular online entertainment destinations, with over 100 million...
- Himalaya Capital official website