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fung9815  Fung C.F.

  • Totally has 11 visits

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  • mikechan2020 2017-06-23 19:24
    fung9815: Hi, I'm from Malaysia, but I do speak cantonese. Your name appeared in Stephen Chow's movie before lol.
    Haha! I laugh everytime when I see him asking the guy about Mike Chan. Nice catch!

    Can I have your email? Some of my friends and I organize a value investor group in HK. Will be fantastic to have the chance to meet you in the future.
  • mikechan2020 2017-05-17 02:08
    hi~are you based in HK. Your last name looks like a Cantonese name.

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  • fung9815 commented on Grahamites's article 03-13 03:30
    2019 DJCO Meeting Notes
    Last month I had the great fortune and pleasure to hear Charlie Munger (Trades, Portfolio) speak at the 2019 Daily Journal (DJCO) meeting as well as...
    View all 1 comment
    fung9815 03-13 04:30
    • On why did that plausible idea fail, I think Charlie was simply referring the lack of understanding on opportunity costs. He added that you have to have stayed awake in your freshman college courses to answer that question (opportunity cost was taught only in the introductory course of economics).

      The main problem of gathering the best ideas from the brightest analysts is that those ideas were simply not their best ideas. Charlie has been long advocating the thinking of going after your best idea, meaning that ONE best idea, not the second best, not the third best, not the tenth best, but THE best idea. People often set a low bar on filtering compelling bargains, hence always ended up with mediocre picks and average returns.

      Charlie has been saying that he had only three ideas that worked in his 95 years of life: Berkshire, Costco and Li Lu. He set an incredibly high bar for best idea.
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