Liu Yiqian’s name is not familiar to us because he does not trade on Dalal Street. He trades on the Chinese stock market. Through his stock picking wizardry, he has amassed a fortune worth $1.38 Billion which is equivalent to Rs. 8,970 crore.
Liu Yiqian’s life is an inspiration to us because he started life as a humble taxi driver on the streets of Shanghai. He is a school dropout. His life is a textbook example of how one can go from rags to riches.
Liu’s big break came in the late 1980s, when China’s state-owned companies began issuing shares to the public. Liu bought shares in a company called Cheng Huang Miao at 200 yuan a share and sold it when the price soared to 10,000 yuan a share. Once he mastered the technique of buying and selling stock, there was no looking back. Soon, Liu Yiqian had made a fortune from stocks. “I have an exceptional nose for the stock market” Liu Yiqian said in an interview to Bloomberg.
However, the best part is that despite his billions, Liu Yiqian remains humble and simple at heart. “I never felt that my wealth has risen to a level that makes me no longer a normal person” he told Bloomberg.
One example of Liu Yiqian’s simple thinking is of when he bought a 500-year old Ming cup that belonged to Emperor Qianlong for $36 Million (Rs. 234 crore). Having bought the priceless cup, Liu Yiqian poured tea into it and drank from it! (See picture).
(Liu Yiqian drinking tea from the 500-year old Ming cup for which he paid Rs. 234 crore)
(Liu Yiqian bidding $170.4 million for the Modigliani painting)
Liu Yiqian’s latest acquisition of a few days ago is the classic painting by Amedeo Modigliani of a nude woman called “Nu Couche” (Reclining Nude). The painting was made in 1917-18. Though there were several bidders at the auction conducted by Christies, Liu Yiqian beat them all with his top bid of $170.4 million (Rs. 1100 crore).
(Liu Yiqian explaining why he bought the art treasures)
The best part is that Liu Yiqian candidly admits that he is not a connoisseur of art and has no taste for it. He competes with other bidders and likes to win. After he wins, he asks his competitors “Why is this piece good?”
Interestingly, Liu Yiqian’s stock picking skills and ability to look for bargains came in handy at the time of making payment for the art treasures. Instead of a direct remittance, Liu Yiqian used his American Express Credit Card to make both the art purchases. This way, he has amassed massive reward points on the credit card and is entitled to a number of goodies as well!
Ineresting !It goes on to highlight the crucial of INTUITION, which could be inborn or cultvated by experiences, in the stock picking.
wow they gave him such limits for his credit card!
Cool.wat an inspiration.thanks
Warning -Don’t try to do or emulate such acts as these are being performed by perfect artists or Khiladi.Anadi like me fall flat on surface with bloody nose.