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The Chinese Warren Buffett-bookcover

By: Weizhen Tang

The Chinese Warren Buffett

Pages: 368 Ratings: 5.0
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“The Chinese Warren Buffett” The King of 1% Weekly Returns

Weizhen Tang first started a professional career in biological research and teaching. After coming to North America in the early 1990s, he chose the financial industry and the investment business as his new career. Today, he has become so successful in the market that he is nicknamed the “Chinese Buffett” or the “Chinese Soros”, and is widely honored as a financial genius, armed with profound theoretical knowledge and extensive practical experience.

Tang is also a social activist. He is the founder of many prominent associations in North America, and is renowned in the Canadian-Chinese community for his philanthropy, enthusiasm, and generosity towards new immigrants.

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  • The Practical Philosophy of a Financier: Tang Weizhen's Dialectics of Wealth Creation in "The Chinese Warren Buffett " by Li Yetao

    The Practical Philosophy of a Financier: Tang Weizhen's Dialectics of Wealth Creation in "The Chinese Warren Buffett " by Li Yetao

    Tang Weizhen, while managing his financial company, still finds time to write and has finally published "My Buffett Wealth Journey". According to his preface, he wants to "use his own experience to help people understand the knowledge of wealth, the process of wealth creation, and decipher the secrets of wealth. More importantly, let people know who is the most capable of creating wealth and how to create wealth for themselves."

    However, rather than analyzing a specific leveraged financial strategy, this book is more of a record of Tang Weizhen's practical experience and insights gained from his many battles in the financial market. His philosophy of practicalism runs throughout the book, with no hollow or complicated theories, only sharp and effective strategies and impressive performance results that make readers envious.

    Obviously, this book is not suitable for financial theory research, nor is it consistent with Tang Weizhen's intention - this book is not for reading, but for practice.

    As a prodigy in the North American financial industry, Tang Weizhen tirelessly raises the flag of his practical philosophy of wealth creation in this work, without a complete theoretical framework, and uses dialectical thinking to explain the joys and sorrows of the process of making money.

    Firstly, the book showcases Tang Weizhen's fanaticism towards investment guru Warren Buffett, demonstrating his profound understanding and deep recognition of Buffett-style wealth creation methods. Whether it's his way of thinking, operational methods, company management model, or even charging fees, he only has eyes for Buffett. The book aims to tell readers that Buffett's tremendous success is a beacon and a benchmark, and the various fragments and examples recorded in the book are, in the author's own words, "my insights; I am a financial figure in the Buffett style."

    However, even the author admits in the book that he prefers short-term investments, and his long-term investments are only limited to one instance, while he made a lot of money through short-term investments, which is opposite to Buffett's approach. Therefore, he said, "My investment is not Buffett-style long-term investment, which seems to be going against the tide, so some people say that I have nothing to do with Buffett's investment. In fact, the results and methods are the same, just different ways of achieving them." The only difference is that Tang Weizhen did not follow Buffett's old path.

    This is an important message that this book wants to convey: classics need to be imitated, but they can also be surpassed. In practical philosophy, there is only one goal for a financier: to make money. This is the dialectics of wealth creation.

    Secondly, based on practical philosophy, the book combines North American wealth creation and inspirational stories through investment experience and personal reflections, while also conveying a strong sense of idealism. Entrepreneurship and wealth creation require practicality, but at the same time, they must be accompanied by lofty ideals. This dialectical unity of wealth creation is evident throughout the book.

    Tang Weizhen uses his own wealth creation journey to demonstrate the importance of this viewpoint. Whether talking to Tang Weizhen or reading his book, one can feel a strong and even fanatical idealistic passion. In the preface of the book, he writes, "People may not see me as a Buffet-like figure because I am not as wealthy as him yet, they may think I am boasting. To understand who I am, one needs to know me more deeply." In the final chapter of the book, he even says, "Although I am far from Buffet in wealth, I have the confidence that I will catch up with him one day because I have already mastered a continuous and stable profit system and Buffet-like banker's thinking." The idealistic passion reminds one of the famous poem by his great fellow countryman from Hunan, Mao Zedong, "Pointing to the country, stirring up words, turning the waste into the golden throne of a hundred households."

    This idealism is particularly valuable in the chapters of the book related to the survival and development of overseas Chinese, where it is necessary to remain steadfast in the struggle while not giving up on ideals. Tang Weizhen uses his own wealth creation practice to illustrate the dialectical unity of practicalism and idealism, making the practical philosophy of the book rise above common philosophy.

    Viewing Chen Chuangfu's life as an art form and showcasing the process in a very secular way, the dialectical unity of art and the secular becomes the third scenic spot of practical philosophy in the book.

    The overall tone of the book is the tremendous joy that Tang Weizhen feels when investing and facing wealth. His journey to Buffet's wealth is how he becomes enchanted with the process of wealth creation, and the rules, techniques, and even risks of wealth creation have become a kind of enjoyment, an aesthetic enjoyment that has been sublimated into art. That's why he says in the book, "I have a special interest and talent in investing."

    Through Tang Weizhen's own examples at each stage, the book tells readers how he makes money step by step, accumulates wealth, and gradually becomes wealthy like Buffet. People will learn from his experience and lessons, and the language used in the book, although very secular, ultimately lets people feel the author's ultimate intention: making money is an art.

    The dialectical unity of art and the secular, once again, allows people to see the unique practical philosophy of the Tang family's wealth creation.

    This eclectic collection of essays may not become a classic in financial literature, but its chapters based on rationalism and practical philosophy demonstrate the author's sincere realism. For a financier, this is particularly valuable.

    North American Life News, September 14, 2007, Section 16.

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