Cashflow is the most important thing - Li Ka Shing interview
the world changes a lot: you are doing well now, doesn't mean you should be set in your ways.
always be very careful with cashflow
so you have the extra capital to get into any industry you want.
cashflow is the most important thing.
In development phase, don't forget about stability, in stability, don't forget about development.
whatever industry I get into, I buy the books/publications about that industry.
It got to the point, I was spending 20-30% of time in the factory and the rest thinking about what to do and planning for the future.
Cheung Kong named after YangTze River.
at 22, he seemed very humble but in his heart he was very arrogant, he said it is not good.
Cheung Kong is named to remind him to stay humble to attract many 'streams' onto him.
in company management use western management model with checks and balance.
in internal philosophy, use the many useful parts of chinese Confuscian philosophy.
wears seiko, cheap watch (comparatively) so he doesn't have to be careful with a $100K watch.
his watch is 30min early.
having money doesn't mean you will be happy but the reality is you can't do anything without money.
view your charity as your own child and treat its assets apart from family assets.
it is very important for people to have faith and religion.
many wealthy people weighed down by mental stress.
alway be industrious; the virtuous welcome onerous duties.
seek improvement ceaselessly.
tax companies extra 1% or 2%, poor people will benefit but important: no free lunches.
education is primary purpose of his charity.
潮汕 has 17 million people but no university so he started Shantou University.
happy person by nature, optimistic and driven.
he has a share certificate: AIG shares 2007 share price USD72.97 total market cap USD 189 Bn. in 2008 share price USD 1.25 market cap only USD 16.76bn down 91%
he doesn't want to damage AIG reputation but just a lesson to his children.
the lesson from this share certificate: be very careful managing company & don't invest like gambling.
