Collection: Li Lu - #25 'A Wakeup Call to ALL Value Investors'



[Transcript]

LI LU 00:00

Anyways, I give a couple of examples just to tell you that this type of approach is not natural to an investor. It’s not natural to you.


However, if for whatever reason, you come to the conclusion that you yourself, your personality somehow fit in this mutated gene pool. That this is something that you might really be looking to do.


The only thing that I can add to that is that there’s a lot of money in it. As has been repeatedly proved by people from Ben Graham to Buffett to everybody else. And I have been probably just most grateful to this class, to Bruce. And actually many years before I came to business school, I took that class and it really changed me fundamentally.


One thing you do have to do is that you got to do it, I mean that's why I was somewhat disappointed with, you know, the amount of work you have put into the places. I tell you I made a hundreds of thousands of dollars just taking this class, just listening to the 14-15 people, but I did a lot of work.


I'm telling you, you can make a lot of money if you’re really into this. Not only just listen but do it! I mean don't you guys – you know, how much you spend, you know, coming into school here? How much you spend? What is the tuitions, books and all of that stuff? What is it now?


What?


AUDIENCE MEMBER 01:47

70(000).


LI LU 01:48

70(000) altogether?


Well, you need at least to make it that up. I mean you should at least make 70,000 dollars back right? You also have two years, you're not making anything. You got to make that up.


How do you make it up?


This is a terrific way to do it. And so that's sort of kind of the last point I want to make is, the only reason I would come back and really – I don't really talk about our holdings anymore and this is actually, we don't hold any of those two stocks anymore.


The only way I do that is because, you know, when I came here prior to business school and during the business school, you know, most people still talk about names and I benefit hugely, hugely! Just by listening and actually do it! That's the difference.


And back then that was more than, you know, 10-15 years ago. I made, you know, roughly hundreds of thousands – in one stock is more than hundreds thousands. Back then I think our cost was also a little bit lower than 70(000) I think, I mean it was, I can't remember what it was but it was lower.


And but that's why you're into this class for. This class is different from any other classes because there's no bullshit theory. All everybody's telling you is what works, is what works.


And if they don't tell you that one. Well, ask them, they should. Well, I mean – (Laughs) – maybe they shouldn't, but I did. (Laughs)


Okay, so that's – you sort of, you guys have a terrific opportunity, we'll be able to build all the points that got into Bruce’s classes. And if you don't really use this thing. Shame on you.


You got to do it. I mean those sort of things, really there was so much gold in it; that little pages, the little books, those Value Lines, all of them. You got to use it. You got to do it. I mean you're young, you have energy, you know. What to lose?


There's nothing to lose.


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

 

[YAPSS Takeaway]

If you really come to the conclusion that your personality somehow fit value investing. Then you got to do the work. Don't be lazy, there's a lot of money in this.