Founder of Munger Academy, Shi Hongjun: Can value investing be done in an economy like China, and how to do value investing? Buffett gives us insights

The founder of Munger Academy, Shi Hongjun, stated at the 2025 Buffett Shareholders' Meeting Chinese-American Investors' Cocktail Party that whether value investing can be done in economies like China and how to do value investing is a question frequently asked by many learners of value investing. We can also draw inspiration from Buffett on this issue. Although, in hindsight, the past 60 years of Berkshire represent a period of continuous growth in the U.S. economy, any period is also filled with uncertainties when viewed from a short-term or localized macroeconomic perspective. Therefore, when Buffett discussed the future in his article on Berkshire's 50 years, he said, "The U.S. economy will fluctuate, and when the economy is weak, our current earnings will also decline. But we will continue to achieve organic growth." For investors, regarding the macro economy and the future, rather than doubting, it is better to learn from Buffett and adopt an optimistic attitude towards problems. Buffett said, "In most years, our country's economy will provide strong tailwinds for business. We are fortunate to have the United States as our home ground." This viewpoint, which Buffett also mentioned today, can be easily adapted by replacing "the United States" with "China" without any issues