After Li Lu invested, How involved is he with the Business & Management? | CBS 2006【C:L.L Ep.33】

[Transcript]

AUDIENCE MEMBER: After you making your investment –

LI LU: Right.

AUDIENCE MEMBER: – how involved are you with the business and management?

LI LU: Well, it’s all different.

You know, I make a whole bunch of private investment, I served as a chairman of two of them, on the board of several, including Capital IQ. You know, when we build Capital IQ, we intentionally copied the Bloomberg business model.

And I'm really building another model that really copy the same one for the engineers basically. Any high professionals that need to that kind of things. So you know all of the insights you learn, can be applied for different businesses. In that case, I'm very active – (BROKEN AUDIO) –

Lot of the time I'm the largest shareholder, and a lot of other ones, you know, this Hyundai Department Store, I couldn't even get a call, I couldn't even get a receptionist to really take my call. I went there and visit everything, I saw all the properties but couldn't get anybody to talk to me, but by large I like to know as much as I can – possibly know.

I want to be friends you know as the Timberland situation, we become such a great friend, the CEO, the son actually become my investor. So that's the kind of relation I want to have – (BROKEN AUDIO) – but you always try it, you always try it.

(BROKEN AUDIO) – everyday business decisions, you can learn, you can observe, you would have know the dynamic of that particular industry at that particular moment and nothing is constant.

That's the interesting thing about business, nothing is constant and that's why I have to keep relearning things. The things you sort of you concluded, you know the one analysis which we just went through with Bloomberg. Maybe couple years is different, I don't know what will cause the difference but it could be.

And I have also there observed, take an example of Microsoft, the dynamic is different. It's no longer the same, now you have got a free software, it pose a completely different scenario.

Every business – (BROKEN AUDIO) – [nothing is constant], all sort of different things could have cause that change and that's good thing. That's a good thing.

That's why people with active mind and really actively prepared and have the psychological temperament to be able to act when he really see insight and opportunity, would always always have a chance to be fabulously rich.

BRUCE GREENWALD: That's good note to end the lecture.

LI LU: That's the note. (Applause)

(Source: https://youtu.be/y3c2PKupiu8)

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