January 2026

A Merchant Sees Gold in Human Form In 267 BCE, in the bustling city of Handan—capital of the Zhao state in ancient China—a wealthy merchant named Lü Buwei encountered what would become history’s most audacious investment opportunity. To understand the brilliance of his gamble, you need to know the context. China during the Warring States period (475-221 BCE) was fractured into seven major kingdoms locked in a brutal competition for supremacy. Think of it as ancient China’s version of Game…

“Buy low, sell high” — this fundamental principle of commerce remains unchanged throughout history. But around 2,300 years ago during China’s Warring States period, one man took this concept far beyond basic trading to deploy sophisticated market manipulation techniques that made him fabulously wealthy. His name was Lü Buwei (呂不韋, Lǚ Bù Wéi). He wasn’t just a merchant. He was a pioneer of “scarcity marketing” — a strategy still used by the diamond industry today — and ultimately rose to…