About
I believe in the idea that "slow is fast".
I strive for a simple job and a simple life.
And through it all, I try to be a quietly useful person.
I've been investing professionally for over a decade. What keeps me going is the deep love for the craft of long-term investing—and a strong belief in the timeless principles of Warren Buffett and Charlie Munger.
I also draw inspiration from a few modern-day investors I admire deeply: Li Lu at Himalaya, Chris Hohn at TCI, and Duan Yongping.
As someone from asset management industry, I often get asked, "which stock is the best pick?" But I think that's the wrong question. A better one is: which business should I own? That mindset shift—from stock picker to business owner—makes a world of difference.
I started this blog to collect my thoughts: lessons learned, mistakes made, and ideas I'm still wrestling with. By sharing these reflections, I hope to be useful to others making investment decisions—especially those focused on preserving and growing their hard-earned wealth across generations. The kind of decisions I'd want my own family to make.
To me, investing should be simple—but never easy. It's about deeply understanding the businesses you own, having the patience to let them grow, staying true to your values, and tuning out the noise of short-term thinking or chasing quick wins. Easier said than done.
Yes, great investing means finding the right business at the right price. But just as important—perhaps even harder—is avoiding mistakes that can set you back years. I focus on owning high-quality businesses with durable growth potential and try to ignore the market's daily distractions.
In short: I believe in owning great businesses—not chasing stock tickers.
A few reminders I live by:
- Only invest in what I understand.
- Buying stocks means buying ownership in real businesses. No more, no less.
- Do the right things for the long term.
- Invert: avoid what can hurt you.
- Fast is slow. Slow can be fastest.
- Stay rational. Ignore the sirens of short-term thinking.
- Be patient. Always.
- Fix mistakes quickly—however painful it feels now, it's the cheapest price you'll pay.
This blog is a place to share thoughts, principles, and perspectives—not investment recommendations.
Thanks for visiting. If you believe in long-term thinking, business fundamentals, durable wealth, and lifelong learning—welcome. You might be in good company.
🌱 Principles
Do the right thing, regardless of what others do. Stay rational regardless of external noises.
Honest to oneself and others. Tell what one knows and also what one doesn't know.
No cheating. Never taking advantage, even when you can.
Owning one's mistakes instead of shifting blames.
Loyal to all partners. Strive to earn my web of deserved trust.
Work hard to deliver best quality of work.
Time does the heavy lifting—if you let it. Most problems stem from man's inability to sit quietly in a room alone.
True strength needs no crutch. Leverage kills more fortunes than bad ideas. The fastest way to go broke is with borrowed money.
Investment Philosophy
When one views stocks through the lens of business ownership, one will natually start thinking about other important questions:
❯ Circle of Competence
What you don't understand can't make you rich—only poor.
- Only invest in what one understands
- Can I clearly explain how this business makes money?
- Do I understand its industry dynamics and key risks?
❯ Business Model
A great business model is half the battle won.
- How does it make money? Who pays—and for how long?
- Is it simple, transparent, and easy to explain?
- Does it deliver real value that drives repeat purchases and loyalty?
- Can it generate durable free cash flow across cycles?
❯ Moat
A moat isn't just a buzzword. Without one, time is the enemy. With one, time becomes your friend.
- What keeps competitors out?
- What keeps customers coming back?
- What gives it pricing power?
❯ Management & Culture
Is leadership honest, rational, and long-term minded? Culture tells you more than credentials.
- Do the right things and do them right
- Focused on value creation, not shortcuts
- Systems that empower, not control
- Incentives built for decades, not quarters
- Capital is a tool, not a toy—deploy it rationally
❯ Margin of Safety
If the price is wrong, nothing else matters. A great business at the wrong price is still a bad investment.
- A good price turns a good business into a great investment
- Buying cheap gives you time, resilience, and room for error
- Great businesses can carry great risk when overpriced
- Margin of safety protects you from the unknown and your own mistakes
Timeless Wisdom from Great Investors
Benjamin Graham
Investment is most intelligent when it is most businesslike.
The individual investor should act consistently as an investor and not as a speculator.
Price is what you pay. Value is what you get.
Warren Buffett
Stocks are not just little pieces of paper that bounce around—they are ownership interests in real businesses.
When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.
If you're not willing to own a stock for ten years, don't even think about owning it for ten minutes.
I am a better investor because I am a businessman, and a better businessman because I am an investor.
Charlie Munger
When we buy stock, we're not buying little stakes that we're going to trade back and forth with people. We're buying part ownership of businesses, as if we were buying the whole business.
The big money is not in the buying and the selling, but in the waiting.
I have three investments: Berkshire, Costco, and Li Lu. That's it.
Duan Yongping
Buying a stock is buying part of a company, so you should analyze it as if you were buying the whole company.
I don't buy stocks; I buy businesses.
What you are buying is the future earnings of a business, not the price the market gives it today.
The most important thing in investing is understanding. If you don't understand, don't touch it.
The best business is the one where doing the right thing is naturally rewarded by the system.
Li Lu
A stock is essentially a unit of ownership in a business.
The key to investing is a deep understanding of the business. You have to think like a business owner.
A stock is just a vehicle; behind it is a real operating business.
Chris Hohn
The only thing that matters is the intrinsic value of the business, and how much you're paying for it.
I run TCI like a business. When we buy shares, we are owners. And if the owners aren't doing a good job, we get involved.
You can't build long-term returns on poor governance or short-term thinking. That's not how great companies—or great investments—work.
Pricing power is what separates a good company from a truly great one. If you can raise prices without losing customers, you have a moat that's hard to compete with.
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