Does Li Lu believe value investing is outdated?
The notion that value investing is outdated fundamentally misunderstands its essence. Value investing, as I practice it, is not about chasing cheap stocks or adhering to rigid formulas. It is about intelligent business ownership. The principles of seeking a margin of safety, understanding a business's intrinsic value, and thinking in the long term are timeless. While market dynamics and industries evolve, the underlying need for rational analysis and a disciplined approach to acquiring fractional ownership of profitable enterprises remains constant. My work, particularly in 'Civilization, Modernization, Value Investing and China,' shows how these enduring principles are vital for navigating modern economic landscapes.