Li Lu is a well-known Superinvestor who has achieved a compounded annual return of about 30% since 1998.
He is also known for managing the money of his good friend Charlie Munger.
Today, he turns 56 years old, and on this occasion, here is some of his timeless wisdom👇🏼
Inflation is our friend!
Wouldn't you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car?
I know I would!
Everybody will be a millionaire!
I hate you #inflation, you destroyer of purchasing power. Old version 2.64 oz New Version 2.22 for the same price. $PG is pushing through their supply chain costs with new packaging…. What was that Powell? Transitory you say?
1. Stocks: all-time highs
2. Home prices: all-time highs
3. Job openings: all-time high
4. Wages: all-time high
5. Core PCE Inflation: highest since 1991
6. Fed: we need 0% rates through at least 2023 & trillions more in bond buying to boost asset prices & increase inflation.
For the 1st time in at least 50 years, the S&P 500's real earnings + dividend yield is close to turning negative.
The only other month it got this close was March 2000.
https://t.co/EfQ4IArtiG
My fellow Americans - My first and highest duty as President is to defend our great Country and the American People. I swore an oath to uphold the laws of our Nation -- and that is exactly what I will do…