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While introducing Li Lu, Greenwald says that there are only three those that he would prefer to have handle his
cash when he retires: Greg Alexander, Li Lu and Seth Klarman who currently manages all of Charlie Munger's fortune.
/>The 3 most significant items Li Lu learned was from Warren Buffett: a stock can be a piece of a
business, not a piece of paper; usually seek a margin of safety and ignore temporary volatility.

Look at what
you can lose before you look at what you are able to make. There are many methods to fail and
few techniques to succeed. Uncover some thing you might be good at, which you appreciate, analyze all the methods you'll
be able to fail and make certain that you don't do them. For those who have an intrinsic passion you'll
be light years ahead of your competition.

You have to know more concerning the organization you are purchasingthan other investors. But there will often be things that you do not know, so purchase the organization using a
sufficient margin of safety to make up for the uncertainty.

You should not rely on the suggestions of others.
money In case you do you won't know what to undertake when the stock you are holding declines. Do
you hold on or do you sell Devoid of your own original analysis, you will not know what to do./>
To gain the sort of insight needed to invest in this manner you'll want to comprehend the underlying business
really well. Visualize that you inherited the business and wanted to learn all about it, because it is the sole
source of your wealth. Research it and think of how you'd run it, and think of how you would improve
it to maximize its value. Then you definitely will get a feel for what it is worth.

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