Li Lu Reported in Line to Succeed Buffett

The usually reclusive Li Lu is suddenly in the news and this time it's the headline-grabbing kind. Wall Street Journal speculated today that, as a hedge fund manager, he is now in line to become a successor to the legendary Warren Buffett.

Mr. Li, 44 years old, has emerged as a leading candidate to run a chunk of Berkshire's $100 billion portfolio, stemming from a close friendship with Charlie Munger, Berkshire's 86-year-old vice chairman. In an interview, Mr. Munger revealed that Mr. Li was likely to become one of the top Berkshire investment officials. "In my mind, it's a foregone conclusion," Mr. Munger said.

The job of filling Mr. Buffett's shoes is among the most high-profile succession stories in modern corporate history. Mr. Buffett, who will turn 80 in a month, says he has no current plans to step down and will likely split his job after he leaves the company into separate CEO and investing functions. Mr. Li's emergence as a contender to oversee Berkshire investments is the first time a name has been identified to fill the investment part of Mr. Buffett's legendary role.

The paper goes on to cite Li Lu's success in introducing BYD, a Chinese battery and auto maker, to Buffett's Berkeshire Hathaway Inc., a story previously highlighted by Fortune. That investment had led to a 10-fold windfall for Li Lu's fund and Berkeshire.

Unlike Buffett himself, Li Lu has focused his investment in Asia and in technologies. Although a fugitive in exile, he is "able to travel to China on a limited basis today" and "hopes to regain full travel privileges soon," according to the Journal.

Wuer Kaixi To Seek Re-entry to China

Reuters reported today that Wuer Kaixi announced that he will try to re-enter China and is prepared to serve a prison sentence.

"I will keep trying. There will be more actions to come," Wu'er Kaixi, 42, told a news conference in Taipei, without giving specifics. "There will be elevated actions."

Like many Tiananmen student leaders, Wuer Kaixi was never allowed to visit China since his escape in 1989. Unlike other dissidents in exile, however, his parents were never permitted to travel abroad either. So, he hasn't been able to see his family for 21 years.

For the last two years in a row, Wuer Kaixi has made unsuccessful attempts to turn himself in to the Chinese authority on the dates of Tiananmen anniversaries.

He said, "I want to see my parents even if it has to be a prison visit."

"Standoff at Tiananmen" on Google Books

My book Standoff at Tiananmen is now available on Google Books, where it can be searched, previewed, discussed and reviewed. Here is the book link.

The Chinese language version is also available here.

Happenings at the 21st Anniversary

There have been many commemoration events, large and small, real and virtual, around the world during the 21st anniversary of the Tiananmen Massacre. Here is an obviously incomplete list of the major occurrences, in no particular order:

1. The good people of Hong Kong kept their annual tradition with an estimated 150,000 people attending a candle-lit vigil at the city's Victoria Park.
2. "Tiananmen Mother" Ding Zilin and her husband made it to the spot where their son Jiang Jielian was killed on the night of June 3, 1989, at Muxidi, surrounded by heavy police escort and "protection." The couple stayed for 45 minutes and performed vigil for all known victims at that location that night. Ding Zilin fainted as she was leaving the scene.
3. Wuer Kaixi attempted to turn himself in at the Chinese embassy in Tokyo and was refused by the embassy. He was eventually arrested by Japanese police for trespassing. He had tried a similar and unsuccessful tactic at Hong Kong last year.
4. Chai Ling testified at the US Congress on the "forced abortion" policy by the Chinese government, calling it as "Tiananmen Massacre is happening ever day in China."
5. Wang Dan organized a large-scale online commemorative gathering on Twitter.
   
6. A book claimed to be the diary penned by Li Peng, the Premier during the movement and massacre, is published in Hong Kong.

Gorbachev's Chilling Reaction to Tiananmen Death Toll

Claire Berlinski wrote in City Journal on the "hidden history of evil" of communism, in which she described some valuable archives from the Soviet era. The archives were smuggled out of Soviet Union by dissidents and are supposed to have been verified by "other prominent Soviet dissidents and Cold War spies" and approved as credible by British judges.

In one example, Claire cited Soviet President Mikhail Gorbachev's reaction to the death toll of Tiananmen massacre in a Politburo meeting on October 4, 1989, four months after the tragedy:

[Chairman of the Supreme Soviet of the USSR Anatoly Ivanovich] Lukyanov reports that the real number of casualties on Tiananmen Square was 3,000.

Gorbachev: We must be realists. They, like us, have to defend themselves. Three thousands... So what?

The City Journal article did not explain the source of the "3,000" death toll number. It most likely came from the predominant figure cited by western media at the time.

Gorbachev has famously walked into the Tiananmen Standoff in May, 1989, for a historical summit with Chinese leaders. His visit, or the anticipation of it, was a major factor in students' decision to launch a hunger strike. Students had welcomed Gorbachev as "the true reformer," but Gorbachev also chided the students as "hot heads."

Thanks to Feng Congde for locating this article.

"Standoff at Tiananmen" Chinese Language Edition Now Available

The Chinese language (simplified character) edition of Standoff at Tiananmen is now available on Amazon:

http://www.amazon.com/dp/0982320310

(As a new book, the page on Amazon is quite empty. Cover image and other metadata will eventually show up in a few days or weeks.)

The book is also expected to become available world-wide through online and other book stores, with its price varies by the store and location. The following information will be helpful in searching for the book at other outlets:

Book title in English: Standoff at Tiananmen (Chinese Language, Simplified Character Edition)

Author: Eddie Cheng

13-digit ISBN: 978-0982320310

10-digit ISBN: 0982320310.

Coming Soon: Chinese Edition of Standoff at Tiananmen

News Flash: the Chinese language edition (with simplified characters) of the book Standoff at Tiananmen has now completed its final production phase and is expected to become available on Amazon within days: