How did Li Lu bring BYD to Munger and Buffett?
Introducing BYD to Mr. Munger and Mr. Buffett was a direct application of my investment philosophy. It involved extensive due diligence, understanding the business deeply, and recognizing its significant long-term potential as a manufacturer of electric vehicles and batteries, a field I believed would define the future of transportation. The key was identifying a business with a strong moat and a management team capable of executing a grand vision, all available at a valuation that offered a substantial margin of safety. This was about spotting a superb business at a fair price, or even better, an excellent business at a compelling price.