Many people try to emulate Warren Buffett's investing strategies, but it isn't easy to generate the same level of success. One who has done pretty well also happens to be someone that Buffett's right-hand man Charlie Munger entrusted his savings to: Li Lu. The Chinese-born value investor runs a fund called Himalayan Capital Management, which was started a few decades ago with the help of Munger (now deceased).

This Warren Buffett disciple runs a concentrated portfolio, especially with his United States-listed stocks. In fact, as of the Himalayan Capital fund's latest update, it had approximately 70% of its American portfolio in just two stocks: Bank of America (NYSE: BAC) and (NASDAQ: GOOG). What is it about these two stocks Li Lu likes so much? Should you invest alongside Li Lu and buy these stocks?

Just under 30% of Li Lu's portfolio of United States stocks (foreign stock holdings are not required to be publicly reported) is in Bank of America. One of the largest banks in the world offers individuals and commercial customers a diversified set of financial services. It has four reporting segments: consumer banking, wealth management, global banking, and global markets. Each of these divisions generated over $1 billion in net income last quarter and the four together totalled $6.7 billion.

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Source Fool.com