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Warren Edward Buffett is an American businessman, investor, and philanthropist who currently serves as the co-founder, chairman and CEO of Berkshire Hathaway. As a result of his investment success, Buffett is one of the best-known investors in the world. As of April 2024, he had a net worth of $139 billion, making him the ninth-richest person in the world.
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Founded in 1839 as a textile manufacturer, it underwent a drastic restructuring into a conglomerate starting in 1965 under the leadership of chairman and CEO Warren Buffett and vice chairman Charlie Munger. Today, the company's earning power is diversified across a broad portfolio of subsidiaries, equity positions and other securities. Insurance is a major area of operations and the float generated serves as an important source of capital. Buffett and Munger are known for their advocacy of value investing principles and under their direction, the company's book value has grown at an average rate of 20%, compared to about 10% from the S&P 500 index with dividends included over the same period, while employing large amounts of capital and minimal debt.
Benjamin Graham was a British-born American financial analyst, investor and professor. He is widely known as the "father of value investing", and wrote two of the discipline's founding texts: Security Analysis (1934) with David Dodd, and The Intelligent Investor (1949). His investment philosophy stressed independent thinking, emotional detachment, and careful security analysis, emphasizing the importance of distinguishing the price of a stock from the value of its underlying business.
Charles Thomas Munger was an American businessman, investor, and philanthropist. He was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett described Munger as his closest partner and right-hand man, and credited him with being the "architect" of modern Berkshire Hathaway's business philosophy.
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Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. All forms of value investing derive from the investment philosophy taught by Benjamin Graham and David Dodd at Columbia Business School in 1928 and subsequently developed in their 1934 text Security Analysis.
David LeFevre Dodd was an American educator, financial analyst, author, economist, and investor. In his student years, Dodd was a protégé and colleague of Benjamin Graham at Columbia Business School.
Janet Celesta Lowe was an American journalist, newspaper editor, and writer.
Growth investing is a type of investment strategy focused on capital appreciation. Those who follow this style, known as growth investors, invest in companies that exhibit signs of above-average growth, even if the share price appears expensive in terms of metrics such as price-to-earnings or price-to-book ratios. In typical usage, the term "growth investing" contrasts with the strategy known as value investing.
Howard Graham Buffett is an American businessman, former politician, philanthropist, photographer, farmer, and conservationist. He is the middle child of billionaire investor Warren Buffett. He is named after Howard Buffett, his grandfather, and Benjamin Graham, Warren Buffett's favorite professor.
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David Sanford "Sandy" Gottesman was an American businessman, billionaire, and philanthropist. He founded First Manhattan Co. (FMC), and was noted for his friendship with Warren Buffett.
Mohnish Pabrai is an Indian-American businessman, investor, and philanthropist. He was born in Bombay (Mumbai), India, on June 12, 1964. He is the founder and managing partner of Pabrai Investment Funds, a value-oriented investment firm that manages over $1 billion in assets.
BYD Company Limited or BYD is a publicly listed Chinese multinational conglomerate manufacturing company headquartered in Shenzhen, Guangdong province, founded by Wang Chuanfu in February 1995. The company has several major subsidiaries: BYD Auto, which produces automobiles including passenger cars and electric buses; BYD Electronics, which produces electronic parts and assembly; and FinDreams, which produces automotive components and electric vehicle batteries.
Poor Charlie's Almanack is a collection of speeches and talks by Charlie Munger, compiled by Peter D. Kaufman. First published in 2005 (ISBN 1-57864-303-1), it was released in an expanded edition (ISBN 1-578-64501-8) three years later. It was republished in 2023 by Stripe Press, shortly before Munger's death.
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Howard Warren Buffett is an American philanthropist, political consultant, political scientist, and writer. A grandson of the American businessman and investor Warren Buffett, he is an adjunct professor in public policy and international affairs at Columbia University's School of International and Public Affairs and was previously the executive director of the Howard G. Buffett Foundation, a private philanthropic foundation that funds initiatives aimed at improving the standard of living and quality of life for the world’s most impoverished and marginalized populations. He previously led agriculture-based economic stabilization and redevelopment programs in Iraq and Afghanistan while at the United States Department of Defense, and as a policy advisor in the Executive Office of the President of the United States under President Barack Obama.
A circle of competence is the subject area which matches a person's skills or expertise. The concept was developed by Warren Buffett and Charlie Munger as what they call a mental model, a codified form of business acumen, concerning the investment strategy of limiting one's financial investments in areas where an individual may have limited understanding or experience, while concentrating in areas where one has the greatest familiarity. The strategy emphasizes the importance of aligning one's subjective assessment with actual competence. Buffett summarized the concept in the motto, "Know your circle of competence, and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital."
Becoming Warren Buffett is a 2017 documentary film about Warren Buffett and his life. The film was made for HBO.
The Asian American Foundation (TAAF) is an American foundation founded in 2021 by a group of prominent Asian Americans and Pacific Islanders, aiming to support an array of Asian American and Pacific Islander causes and create a national infrastructure for a community that has faced an increasing number of racial attacks. Launched with $250 million, TAAF is described by organizers as the largest-ever philanthropic effort to support the AAPI community in history. The founders include Joe Tsai, Joseph Bae, Li Lu, Peng Zhao, Sheila Lirio Marcelo, Jerry Yang, Angela Chao and Jonathan Greenblatt. Its Founding Advisory Council members include Daniel Dae Kim, Lisa Ling, Condoleezza Rice, Jeremy Lin and more. The organization is chaired by Li Lu, and Norman Chen is the Chief Executive Officer (CEO).
References
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- ↑ "Asian-American leaders launch US$250 million effort to combat hate". South China Morning Post. May 4, 2021. Retrieved August 31, 2021.
- 1 2 3 "Family of Voices - Li Lu," Smithsonian, retrieved 25 August 2021.
- 1 2 Olcott, Eleanor (September 7, 2023). "No other investor has a life story quite as unbelievable as Li Lu". Financial Times. Retrieved April 9, 2024.
- ↑ Moving the Mountain, directed by Michael Apted (Los Angeles, CA: Hallmark Home Entertainment, 2000), DVD.
- ↑ Li Lu, Moving the Mountain, 174.
- ↑ Li Lu, Moving the Mountain, 173.
- ↑ Ling Chai, A Heart for Freedom. Carol Stream, Illinois: Tyndale House, 2011, ISBN 978-1-4143-6246-5.
- ↑ "2005 Columbia Investment Management Conference". Columbia Business School. Archived from the original on June 20, 2006. Retrieved July 25, 2011.
- ↑ Louis Li, "Foreword," Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Chinese Edition, retrieved 2 October 2021.
- 1 2 3 Pulliam, Susan (July 30, 2010). "From Tiananmen Square to Possible Buffett Successor". The Wall Street Journal. Retrieved August 19, 2021.
- ↑ Li, Lu (2012). "Asia Society" (PDF). Retrieved May 4, 2016.
- ↑ Li Lu's Foreword for the Chinese version of Poor Charlie's Almanack Archived May 24, 2010, at the Wayback Machine
- ↑ Mohamed, Theron. "Charlie Munger invested nearly $90 million of his family fortune with Li Lu. The 'Chinese Warren Buffett' has turned it into about $400 million".
- ↑ Jonathan Stempel, "Charlie Munger targets active managers, Elon Musk; praises China," Reuters, 14 February 2019.
- 1 2 "Li Lu — Know What You Don't Know" (PDF). Graham & Doddsville. New York: Columbia Business School. Spring 2013. Retrieved September 23, 2021.
- ↑ "Himalaya Capital Management Llc Quarterly Report (Form 13F-HR)". SEC.Report. SEC. August 13, 2021. Archived from the original on November 19, 2022. Retrieved August 23, 2021.
- ↑ Value Investment Institute (September 1, 2010). "Buffett-ites or Bluff-it-ites?" (PDF). Value Investment Institute. Archived from the original (PDF) on November 3, 2011. Retrieved July 5, 2016.
- ↑ Lewis, Richard (April 13, 2021). "Li Lu: Value Investing in China, Full Transcript". Latticework Investing. Retrieved September 25, 2021.
- ↑ "Buffett's Chinese electric car company". Marcgunther.com. April 13, 2009. Archived from the original on May 20, 2010. Retrieved July 25, 2011.
- ↑ Ovide, Shira (October 26, 2020). "Todd Combs: For Buffett, Is Good Help Hard to Find?". The Wall Street Journal. Retrieved August 19, 2021.
- ↑ Ax, Joseph (May 3, 2021). "Asian-American business leaders launch $250M effort to fight hate". Reuters. Retrieved August 16, 2021.
- ↑ "Our Team". The Asian American Foundation. Retrieved September 7, 2021.
- ↑ Hadero, Haleluya (May 20, 2021). "Foundation raises $1 billion to fight anti-Asian hate". Associated Press. Retrieved August 16, 2021.
- ↑ "For US-China groups, the adversary is COVID-19 – not a country ," The Christian Science Monitor, 18 May 2020, retrieved 15 September 2021
- ↑ "Chinese version of Poor Charlie's Almanack". Amazon.cn. Retrieved July 25, 2011.
- ↑ "Case Study: Li Lu's Investment in Timberland". www.gurufocus.com. Retrieved April 8, 2024.
- ↑ "Alexander Navab and Li Lu Elected to Columbia Board of Trustees | Columbia News". news.columbia.edu. Retrieved December 17, 2019.
- ↑ "Board of Trustees". www.bot.caltech.edu. Archived from the original on October 16, 2021.
- ↑ "New Members". American Academy of Arts & Sciences.
- ↑ "Li Lu". National Museum of American History. March 16, 2017. Retrieved December 17, 2019.
