But I wont be following him. Charlie Munger: Well, it certainly does and thats the kind of thing that can happen when you get a whole lot of people who are using liquid stock markets to gamble the way they would betting on horses. If we could make the world richer by just raising the minimum wage to $100,000 a second or something, of course we would do it but. SEC Form 13F Filing History. I admire him that much. These actions have given some shareholders more visibility and comfort on their investment. You can imagine its in a wonderful position and that excited the people in China which has its share of crazy speculators. Chinas economic record among the big nations is the best that ever existed in the history of the world. I think people have the theory that any intelligent hardworking person can get to be a great investor. And thats very interesting. Question: What are Mr. Mungers thoughts on the recent GameStop short squeeze by social media and the resulting implications on short selling in the future? What were the lessons learned? Question: Why, almost two years ago, did you believe that Costco was the only U.S. stock worth buying? And then the previous 100 years, that got another big chunk of modernity. Investor Relations & Corporate Communications 650-260-7120 ext. With no analysts or investor relations department, few understand the transformation that has occurred. Computershare Investor Services 8742 Lucent Boulevard, Suite 225 Highlands Ranch, CO 80129 . Question: Mr. Munger recently raised the alarm about the level of money printing taking place. The total portfolio value may be much higher due to cash We bought all these buildings cheaply. Always on point. Featured Content What, for example, would you recommend as course materials? Daily Journal Corp's portfolio is diversified across 3 sectors. Are Berkshires managers aware that through their efforts to create business success at Berkshire that they have been involved in saving millions of lives? So, I dont think Bitcoin is going to end up as the medium of exchange for the world. And in biology, what happens is the individuals all die, and eventually, so do all the species. As November inches closer, all things in the political world will ultimately begin and end with the midterm elections. Give me a new question. Daily Journal Corp. You used examples of Lee Kuan Yews good judgment in choosing someone with brains over certain physical attributes in your past interview. I expect less out of bankers than he does. You can hardly think of a decision that matters more to human felicity than who you marry. Best Ideas Omaha I think most people are born with a happystat. Were all pretty forgiving of ourselves too which is probably a good thing. Question: You identified the opportunity in electrification and invested in BYD. Role of Investor Relations - Corporate Finance Institute A lot of the good rules of life are like that. Charlie Munger: Robinhood trades are not free. What do you make of these two pricings? The high margin, profitable and rapidly growing digital first financial news and research business will be operated by Dow Jones, a News Corp subsidiary. Has the quality gone down? They really need the world to stay the way it is. The fund focuses on investments in the United States as Stocks with a size of more than $10 billion in market cap make up He was always upbeat. Question: You often advocate for learning from other peoples big calamities and stupidities. And, of course, thats a very dangerous way to invest. I hope that that will continue in the future. The fund focuses on investments in the United States as 50.0% of the portfolio companies are based in the United States. I think theyre probably right, by the way. So its a very theoretical discussion. But the Chinese have proved that you dont need free speech to have a wonderful economy. Daily Journal : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF.. Daily Journal Corporation Announces Financial Resultsfor the Nine Months ended June 30.. Daily Journal Corporation Announces Financial Resultsfor the Six Months ended March 31.. Daily Journal : Fiscal 1Q Earnings Snapshot. Its just that some people look for values in strong companies and some look for values in weak companies. Currently, their heaviest sector is Finance making up 81.3% of And we immediately ascended, we put Gerry in, and hes made every decision wonderfully ever since. Charlie Munger: No, I would say that of course, theres some new material in misjudgment. It was totally required. You are going to be flabbergasted. Its hard to run a bank intelligently. Delayed Nasdaq He had a long and wonderful run. God knows it was difficult but I dont think its a mistake. We cant promise what the outcome will be but we are trying pretty hard and we get some favorable impressions of progress. With no analysts or investor relations department, few understand the transformation that has occurred. I didnt get to where I am by going after mediocre opportunities. And thats the right way to do it. Investors Will Want Seneca Foods' (NASDAQ:SENE.A) Growth In ROCE To Persist 7/31/2022 8:49 AM. But show me a psychology department that knows how to do that. In his early education, he was the second-ranked student in the school. The Knowledge Moat: Keeping Competitors Out Through Ability, Constellation Software: Incentive Systems and Return Constraints. And thats the way we handled Gerry. What else can you do? Its like evolution in biology. And I dont know whether hes right or not. And I think both of us have done the same thing; we just suck it in and cope. Solved Auditor Changes at Daily Journal Corporation Charlie | Chegg.com But its hard for anybody. Thats entirely due to the practical talent of Lee Kuan Yew. Daily Journal Corp - Portfolio Holdings, AUM (13F, 13G At KB Home, social responsibility means investing in the relationships we have with our employees and within our communities. Take Gerry. Theyd take you through the building of the canals and the building of the railroads and so on and so on. Charlie Munger: Well, heres what I meant. When these people go, there is none replacing them. Daily Journal Corp. - AnnualReports.com All except for the legal advertising system which we had to build because nobody else has the volume that we have. And that institution has two assets in its endowment account. All rights reserved. Our 2023 Annual Meeting of Shareholders will be held on Thursday, May 4, 2023 at 8:30 a.m. I dont know which is worse. Of course, its going to be difficult. On the other hand, as you say, I didnt get rich by buying stocks at high price-earnings multiples in the midst of crazy speculative booms. In a recent regulatory filing, The Daily Journal ( DJCO -3.51%) disclosed that it had bought more shares of Chinese giant Alibaba ( BABA 2.46%) with its corporate cash. But he knew how to learn what he didnt know. What are his thoughts on modern monetary theory? No, I dont think I have anything to contribute. If you go to a little country like Estonia, the whole damn country is on the internet and its a very good idea. Question: Many believe that inequality accelerated by this pandemic has reached alarming levels that demand drastic solutions such as a wealth tax. Part of the reason for that was cultural. Matthew Peterson is the Managing Partner of Peterson Capital Management, LLC. -, Daily Journal Corp : Submission of Matters to a Vote of Security Holders (form 8-K), Charlie Munger downplays risk of Taiwan invasion, says crypto fans are 'idiots', Transcript : Daily Journal Corporation - Shareholder/Analyst Call, Secretary & Executive Vice President-Publications, Daily Journal, long overseen by Charlie Munger, halves stake in China's Alibaba. Buffetts donations to the foundation have obviously helped to save many millions. I think the Chinese were very smart. Will we have fewer gas stations or truck stops in the future? Daily Journal Corporation has 1 stars. Charlie Munger: Well, of course, if they bring in a brand new technology you dont understand at all, youre at something of a disadvantage. Gerry has done magnificently well. Question: Given all of your donations to physics, what is your favorite way of applying physics to societys problems and also to investing? Question: If you had a chance to make an addition or revision to Poor Charlies Almanac, what would that be? But the accountants are duly elected. Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. Of course, if he had a chance to do it over again, he would avoid those mistakes. The Frankfurt Conversation, I got more out of Ideaweek than any investing-related event Ive been to since 1986. Peter Leacock, Senior Portfolio Manager, CIBC Wood Gundy. Daily Journal | DJCO Stock Price, Company Overview & News - Forbes The votes in favor of that are 995,356 against 120. It was an accident. , whose value grew 4.2% in the past six months, Us Bancorp worth $6.11 million, with 140,000 shares owned, Town & Country Bank & Trust Co Dba First Bankers Trust Co, Stocks and cryptocurrency portfolio tracker. The majority of revenue is generated from Traditional business segment. The Daily Journal shareholders will have to take whatever outcome comes from caring more about our customers than is at all common. But I do think having a whole system to sell hydrogen is difficult. But, of course, I think there will be more automation in transportation of all kinds in the future. Gerry and I have been together, how many years Gerry? Were beholden to the guidelines of the county of Los Angeles and other counties. So, I think for some folks, early-stage investing is best, and for other folks, what Ive done in my life is best. Matthew has over a decade of experience with global financial services firms including Goldman Sachs, Morgan Stanley, Merrill Lynch, American Express, and Ameriprise Financial. Request Information He was a very smart man and he had a lot of good ideas. We dont have any other secrets, do we Jerry? Given the developments over the past year, could you give us an update on your assessment of wretched excess in the system? And, we hope to do well in it. Furthermore, hed gone through the Great Depression. Astronics Corporation Announces Preliminary Sales for Fourth Quarter 2022 of $155 Million to $160 Million; Completes $205 Million Debt Refinancing Nov 15, 2022 4:05 pm EST Astronics Corporation Reports Third Quarter 2022 Financial Results Latest Presentation December 6, 2022 Truist Securities Industrials & Services Summit 2022 All rights reserved. According to the last 13-F report filed with the SEC, Tu To serves as the Chief Financial Officer at Daily Journal Corp. Charlie Munger: I dont have any wonderful new thoughts. Some people think that value investing is you chase companies that have a lot of cash and theyre in a lousy business or something. Rick was part of the group which consisted of Warren Buffett, Rick Guerin, and Charlie Munger that bought control of Blue Chip Stamps when it was widely distributed in an anti-trust settlement. In-person events hosted by MOI Global bring together inquisitive minds to explore ideas of consequence in investing, business, and life. Thats the good news. And if youre selling them gambling services where you make profits off of the top, like many of these new brokers who specialize in luring the amateurs in, I think its a dirty way to make money. Once again, the wit and wisdom of Charlie Munger was on full display at the deceptively youthful age of 97! Charlie Munger: Well, the people doing the computer software are doing magnificently wellthe people under Gerry: Maryjo and Danny. Daily Journal Corp 13F annual report (2023) | wallmine Charlie Munger: I dont think I use much physics in solving my investment problems but it occasionally helps me. are based in the United States. Question: In 1999, the year the Daily Journal bought Sustain Technologies, the traditional business employed 355 full-time employees and 61 part-time employees. And what he does is he sells about half of them always. 264 [email protected]. Of course, that made him very leery of dumb loans. We have offices in all the major cities in California and also in Logan, Utah. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. So, its a serious problem. Charlie Munger: Ladies and gentlemen, wherever you are, via Yahoo finances website. Moody's Corporation to Present at Investor Conferences You have said that the single best way is to deserve a good spouse because a good spouse is by definition not nuts. Charlie Munger: Full Transcript of Daily Journal Annual Meeting 2021 Question: We have a couple of questions about J.P. Rick Guerin. Contact. The first order of business is to reelect the four directors and the votes are as follows: Charles Munger, 679,481, Gerald Salzman, 660,287, Peter Kaufman, 593,336, Mary Conlon, 651,493. Thats very, very important. Also, fortunately before the pandemic, we got out of the conference-type events and we were not subjected to the problems of no conferences nobody to attend. They lose their money fast enough. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Daily Journal Corporation ( NASDAQ: DJCO) is a business and legal news and advertising editorial in California. I think theyre a bad investment when interest rates are this low. Charlie Munger: Its partly culture but a lot of it is just born in and its a quirk. Touch device users, explore by touch or with swipe gestures. On the payment ecosystem and its history, distributional strategies, the competitive positions of modern players like Stripe, Square, and Adyen, how Adyen is different from the two others, unified commerce, and a brief on the stock price. Apartments have come through better. Charlie Munger: Well, I hope we dont have fewer truck stocks because Berkshire Hathaway is deeply involved in truck stops. They just copied Adam Smith and left out the free speech and it worked fine for them. I recognized early that Gerry could run anything he wanted to run. I came to law school having learned the method of learning and nothing has served me better in my long life than continuous learning. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California. What I see in China now just staggers me. The Manual of Ideas Copyright by BeyondProxy. He was very courageous and generous in helping everybody around him all his life. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. I just see more and more of the rich people leaving. And if you have a free market system thats trying to get rich in the way recommended by Adam Smith, what happens is that its a very irritating system because the poverty that causes so much misery is also causing the growth that makes everybody get out of poverty. How do you think about the hydrogen opportunity for transportation and how does it compare to the electric opportunity, specifically thinking about trucks versus cars.
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