An Exceptional Leader

In general, I try to steer away from writing about work or any work related topics. I work in the biotech industry, and I travel in the Chinese life science circle. There are many people in my circle who have done great things or led interesting lives. I don't write about them because I don't want to get my personal life and professional life mixed up.

In that case, my personal investment is a personal topic. Michael and I invest in the stock market. In a way, perhaps one would say that due to my working in life sciences and him in biomedical research, we should be better at investing in biotech stocks than others. But no - the one stock we have the biggest unrealized loss is a biotech company Dendreon that he has studied in excruciating details.


I recall making an argument to him that is very well-known in business. First of all, we really don't know much about each company. Second, even when we study it to death, there is a lot of risks that are not even known to the insiders. Lastly, in business we all know the importance of leadership, and if the leadership of a company has not been stellar, there is even more reason to doubt its potential. Eventually people make the company sink or float, and if the leadership does not project credibility, no science or technology will compensate for it in the market place.

There is only one stock that I have spent more money than others, although now I wish that I had spent all the money that Michael invested in Dendreon to buy it. It is Wuxi Apptec. Due to my work, I have got to know many players including Wuxi in the Chinese outsourcing industry. Wuxi is undoubtedly the leader of its field. Of course, as the overall pharmaceutical industry is going through a hard time, the contract research organizations in China are also facing challenges. Still, despite all the contractions, Wuxi has remained the only big biotech investment from which I have realized gains as well as paper gains.

I don't pride myself on my investment wisdom. I don't have any by comparison to others. But I do go by my own argument in investing in a company where the leadership is strong. Wuxi Apptec has been led from its very first day by an extraordinary leader, Dr. Ge Li. Throughout the past decade, he has steered the company through its rapid expansion and transformation, utterly changing concepts of what a CRO can do in the context of pharmaceutical discovery and development.

Lately, there is a press release from Wuxi on a former junior employee being found out on stealing some compounds from a client company. Yes, it is bad press. But I applaud their courage to put out a press release, take responsibility and not shy away from discussing it. After reading it, I wrote an email to Ge, and mentioned how the only biotech stock that has made me a lot of money is Wuxi and how I wish that I had bought more of it - yes, I was flattering him a little, but perhaps I was just secretly chastizing my own husband! He graciously wrote back, and being extremely perceptive as always, he said, "thank you, my friend. I guess you are writing this email to show support for me and the company." He went on to talk about how he always wants to do the right thing even if it's difficult. Then he asked me about my son Winston.

I told him that Winston is doing okay, and hopefully he will have an easy life as his nanny said that a baby born at night during sleep time is destined to relax a lot and not have to work hard. "Ha ha, I was born at night..." he quipped. He is legendary for working hard and sleeping only 4 hours every day. Being a bit facetious, I wrote back, "It does not prove that my nanny's prediction is wrong, although she's got only a high school degree and never studied science. It only means that you are an exception."

Indeed, in many more ways than one, he is an exception. A totally exceptional leader.