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.
