Li Lu's Sohn Conference Presentation on Korean Preferreds ~ market folly

Thursday, May 9, 2013

Li Lu's Sohn Conference Presentation on Korean Preferreds

We're posting up notes from the Ira Sohn Conference 2013 in New York.  Next up is a summary of the presentation from Li Lu of Himalaya Capital.  He presented on preferred stock of Samsung, Hyundai and A-1 Pacific, arguing that Korean preferreds are cheap because there's irrational perception that they aren't debt or equity.

Korean Preferreds: Samsung, Hyundai, A-1 Pacific

Li Lu is a Buffett disciple and he was considered to take over Buffett's fund.  Idea: Korean preferred stocks, Samsung (an idea he also pitched about 4- 5 years ago).  Talked about the accounting treatment of preferred shares, and stock options.

Earlier this week, we drew attention to a rare interview with Li Lu on investment process which is definitely worth a read.  And for more, here's a talk Li Lu gave.

Check out the rest of the hedge fund presentations from the event: notes from Ira Sohn Conference 2013.

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