According to the Journal:
Mr. Li fits the bill in some important ways, Mr. Buffett says. "You want someone" who "can think about problems that haven't yet existed before," he says. Mr. Li is a contrarian investor, loading up on BYD shares when they were beaten down. And he's a big fan of Berkshire, which may also help his cause. "We don't want them unless they have special feelings about Berkshire," Mr. Buffett says.
Li, who was one of the student leaders at the 1989 Tiananmen Square protests, is 44 years old and a close friend of Munger's. He is the person who got Munger interested in BYD, the Chinese electric car company that has been a very successful investment for Berkshire over the past two years with an estimated gain of $1.2 billion.
BYD has also fueled Li's gains as a hedge fund manager. According to the Journal, he bought shares of the "fledgling" battery company in 2002 just after its Hong Kong IPO, and continued to add to his position.
But the Journal notes that Li's "big bet on BYD is his only large-scale investing home run. Without the BYD profits, his performance as a hedge-fund manager is unremarkable."
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