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There are currently 4 companies in Mrs. Tos portfolio. You dont need to worry about them. Quickly find out what the most recently closed or increased positions are. Everybodys got a different situation. Question: Why is Berkshire Hathaway selling shares of Wells Fargo as quickly as one can and the Daily Journal has sold one share? Now 16 years have passed. Computershare Investor Services 8742 Lucent Boulevard, Suite 225 Highlands Ranch, CO 80129 . 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. Charlie Munger: Real estate has always been a difficult field. The meeting will come to order. That is true and makes sense. All except for the legal advertising system which we had to build because nobody else has the volume that we have. Youll remember that when the first big bubble came, which was the South Sea bubble in England back in the 1700s, it created such havoc eventually when it blew up that England didnt allow hardly any public trading and securities of any companies for decades thereafter. Everyone knows this isnt a small cap Berkshire Hathaway. That approach will never go out of style. BILLERICA, Mass., (BUSINESS WIRE) -- Bruker Corporation (Nasdaq: BRKR) announced today that Gerald Herman, Executive Vice President & CFO will present on. The Superinvestors of Daily Journal Corporation - Forbes Rick was always humorous. I knew a man once, Henry Singleton, who was not a chess champion. He absolutely took over a malarial swamp and turned it into modern Singaporein his own lifetime. Corporate governance. You know what her mottoes were? It seems to involve a lot of your standard causes of human misjudgment. On Tuesday, March 7, 2023 at 11:00 a.m. Eastern Time, Michael West, President of Moody's Investors Service, and Shivani Kak, Head of Investor Relations, will speak at the Raymond James . I think the oil and gas industry will be here for a long, long time. DAILY JOURNAL CORPORATION - Print Media - 915 E 1st St, Los - Yelp 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. $174 million and $174 million respectively. 2/13/23. Charlie Munger: You have to be optimistic about the competency of our technical civilization. Question: Its been a year since the coronavirus pandemic came to the U.S. What have you all learned about running a business in the past year? The board includes high-profile names such as Rick Guerin, Peter Kaufman, and Charlie Munger. are based in the United States. Investors | Seneca Foods You can hardly think of a decision that matters more to human felicity than who you marry. The two most similar investment funds to Daily Journal Corp are Platform Technology Partners and Mtm Investment Management. All rights reserved. That happystat has more to do with their happiness and their outcomes in life. Charlie Munger: Ladies and gentlemen, wherever you are, via Yahoo finances website. Delayed Nasdaq But he knew how to learn what he didnt know. Thats the reason he rose so fast in life. I think the Chinese have behaved very shrewdly in managing their economy and theyve gotten better results than we have in managing our economy. But, I hardly think the editorial quality could go way up when employees were going down. Youve said recently that Sequoia is the greatest investment firm ever. But he was 90 years of age. The Hamilton Live 600 14th Street NW Member of equity research team highly ranked by Institutional Investor and The Wall Street Journal. View the latest DJCO financial statements, income statements and financial ratios. [As for] marketable securities, we prefer owning common stocks to holding cash under current conditions and its kind of an accident that we have so much in marketable securities. Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities But I do think having a whole system to sell hydrogen is difficult. Charlie Munger: Well, of course, its very hard to fix the global warming problem when the poorer countries need to burn coal to stay alive and so on. Its been amazing that one little company starting up not that many decades ago could become as big as Costco did as fast as Costco did. That recognized reality and worked way better than what other people were doing. Download 13F Summary Charlie Munger: I have seen an episode or two of the Queens Gambit. In addition, the fund holds 1,591,800 shares of Wells Fargo & Co worth $65.7 million, whose value grew 4.2% in the past six months. The Daily Journal Corporation has been publicly traded since 1987 on the NASDAQ under DJCO. Charlie Munger: We will not be following Tesla into bitcoin. Where does it appear most egregious? I think that would be insanity. He doesnt mind at all not getting credit for his charitable donations. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. Charlie Munger: Full Transcript of the 2021 Daily Journal Meeting - Junto Charlie Munger: Full Transcript of Daily Journal Annual Meeting 2021 Ten Charts That Show World Economy's Turbulent Course Over 2022 Market Data Stocks Commodities Rates & Bonds Currencies Futures Sectors View More Markets Economics Economics Indicators Central. Remember the Dot Com boom when every little building in Silicon Valley ran into a huge price and a few months later about a third of them were vacant. Just think of the things that were once prosperous that are now in failure or gone. Can U.S. Treasury bonds be such a case today? By the way, thats not the normal outcome in America. 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, dont you think were doing pretty well? Question: With all the work from home with Zoom and other technology, what do you think the future of commercial real estate looks like? The MOI Global Editorial Team, led by John Mihaljevic, CFA, includes community builders, event organizers, writers, editors, research associates, security analysts, and fanatical member support advocates. The majority of revenue is generated from Traditional business segment. Charlie Munger: Well, you know, I had a failed marriage, so I dont think Im in the perfect position to advise the young about marriage. Charlie Munger: Yes, I think it must end badly but I dont know when. Seneca Foods' (NASDAQ:SENE.A) investors will be pleased with their notable 70% return over the last three years 10/18/2022 3:57 PM. Im not saying that oil and gas is going to be a wonderful business but I dont think its going away. Ryan Buntain has joined Knox Lane as head of investor relations, according to a spokesperson for the firm. Ratios & Margins Daily Journal Corp. All values updated annually at fiscal year end Valuation P/E Ratio (TTM) - P/E Ratio (including extraordinary items) - Price to Sales Ratio 6.55 Price to Book. A single vial can cost upwards of $300, meaning a monthly cost of $1,000. In recent years, The Manual of Ideas has expanded to become more than simply the very best investing newsletter on the planet (Mohnish Pabrai). February 12, 2020 . It sold the previously owned 9,745 shares for $357 thousand. Charlie Munger: Its partly culture but a lot of it is just born in and its a quirk. Charlie Munger speaks at the Daily Journal annual meeting Of course, we accomplished quite a bit working together. Were beholden to the guidelines of the county of Los Angeles and other counties. We all live with that problem. The Knowledge Moat: Keeping Competitors Out Through Ability, Constellation Software: Incentive Systems and Return Constraints. You must have a subscription to view WhaleScore histories. And he said; I cant decide the order of presidency between a flee and a louse. How do you recognize a potential downfall in a company you hold/invest in? He was a very smart man. The third-largest holding is Alibaba Ltd worth $26.4 million and the next is Us Bancorp worth $6.11 million, with 140,000 shares owned. Charlie Munger: I dont think I have a lot of wonderful advice about starting a business but what youve learned in the pandemic is that we can do with a lot less travel and a lot more Zooming. When the pandemic is over, I dont think were going back to just the way things were. Charlie Munger: I think Warren and I are better at buying mature industries than we are at backing startups like Sequoia. [The questioner] would like to know what Charlies method of learning is. I think that shareholders should be more sensible and not crowd into stocks and buy them just because theyre going up and they like to gamble. Whalewisdom has at least 38 13F filings, and 33 Form 4 filings. But they dont teach that in the psychology department because the academic system rewards little experiments that develop more insight into psychological tendencies instead of synthesizing whats already been discovered with the rest of knowledge. It's always a wonderful pleasure to hear Charlie Munger speak at the Daily Journal Annual Meeting. Contact. I think any intelligent person can get to be pretty good as an investor and avoid certain obvious traps. , 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. Charlie Munger: Well, I dont think I know exactly what the future of banking is and I dont think I know how the payment system will evolve. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September .. Daily Journal : Fiscal Q3 Earnings Snapshot. We hope theyll continue doing magnificently well. When I saw that psychology was necessary and I didnt have it, I didnt just learn the little tendencies well enough to get As in psychology. And then the previous 100 years, that got another big chunk of modernity. Charlie Munger: I think Ill skip that one. The most important decision in life to benefit those who are single, perhaps including some of your grandchildren and great-grandchildren. Eli Lilly's press statement said it's slashing prices to make insulin more accessible, and then flipped the onus onto . Youve even said business schools that dont adopt this method are doing their students a disservice. Communicated daily with internal traders and sales force, plus marketed globally to Buy-Side clients . I dont think we have any great gift at making macroeconomic predictions. Currently, their heaviest sector is Finance making up 81.3% of the total portfolio value. -, 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. I find that by working at that, I can actually make some improvements even though Im old. But he could play chess blindfolded at just below the Grandmaster level. He had a long and wonderful run. The Corporation will host a fourth quar. Question: Should there be a tax on buying stock now that Robinhood trades are free? Chuck Royce. [1]: And I think that that is inevitable because its difficult to be a good investor. Charlie Munger: Im a great admirer of Jeff Bezos whom I consider one of the smartest businessmen who ever lived. And I just think it was academically inconvenient for them. He was very amiable the way he talked about it. He really knew everything you had to do to avoid credit losses in a small town in Illinois. Do it right the first time. How would you advise these institutions to manage their endowments over the coming decades? I do think that a properly run bank is a great contributor to civilization and that the central banks of the world like controlling their own banking system and their own money supplies. So, of course, I admire him. These positions were updated on January 5th based on the funds latest 13F filing. Has there been anything that has surprised you, and what would be your best advice to someone starting a business now? Throughout the transcript below, I have included clickable links to my notes and articles . And, pretty soon, he turned that into this gloriously prosperous place. Its like evolution in biology. Information and insights on key investors, paired with strategic outreach to help corporations capitalize on relationships. The Daily Journal's 'Slow and Awful' Path to LegalTech Success Daily Journal Corporation (DJCO) - Yahoo! Gerry, can you ever remember Rick down? I think all of this activity is regrettable. He was just so damn smart. Value investors know Warren Buffett's classic retort to efficient market theory, "The . I call it deworsificationwhich I copied from somebody. I would imagine that applies to the broad market too. One thing I can promise is that I wont contribute much to it because I dont understand it. Billionaires Group And theyre all dyingevery damn one of them almost. As of 29th December 2022, Daily Journal Corps top holding is 2,300,000 shares of Bank Of America currently worth over $76.2 million and making up 43.7% of the portfolio value. February 26, 2021 / Richard Lewis / 6 Comments. I prefer the United States. 1/9/23. Jeffrey Stacey, I enjoy it and others will also. Theyve got a better reputation for providing value than practically anybody, including Amazon. What do you think we can do to help those who are currently falling behind as a result of this pandemic? I didnt get to where I am by going after mediocre opportunities. In other words, I think the system of checks and balances and elections that our founders gave us actually gave us pretty much the right policies during my lifetime. Today, it hovers around 9500. DJCO | Daily Journal Corp. Annual Income Statement | MarketWatch When people gave me a good idea and I could see it was a good idea, I quickly mastered it and started using it for the rest of my life. 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. The only opinion I have there is that I dont think anybody knows whats going to happen for sure. I think Im a little more lenient. And I think wise people should just stay out of them. And what he does is he sells about half of them always. Charlie Munger: Well, its most egregious in the momentum trading by novice investors lured in by new types of brokerage operations like Robinhood. It was totally required. email address below and choose 'Submit'. So we were like an undertaker who suddenly got prosperous in a plague year. Titan International, Inc. - Investor - Contact 13F filing from DAILY JOURNAL CORP, enter your If you go to a little country like Estonia, the whole damn country is on the internet and its a very good idea. Considering their system, that is not what he should have been doing. He was that smart. Daily Commerce The jurisdiction for this foreign stock company is SOUTH CaliforniaROLINA. If anybody can fix it, he can. Bitcoin reminds me of what Oscar Wilde said about fox hunting. This years annual report suggests that the traditional business has 97 full-time employees. Investor Letter Excerpts Question: Why, almost two years ago, did you believe that Costco was the only U.S. stock worth buying? It doesnt happen anymore. And I dont think that we or the Daily Journal is getting ahead because weve got some wonderful macroeconomic insight. I dont think Gerry is surprised that the people doing the workMaryjo and Dannyare doing well. And I think both of us have done the same thing; we just suck it in and cope. Sure, we all love the kind of civilization we have. 2023 Annual Meeting. So I think what China has done was probably right for China and that we shouldnt be so pompous as to be telling the Chinese they ought to behave like us because we like ourselves and our system. The death tax in China is zero. And, of course, its going to create trouble as it did. Governance. Have you seen the television show Queens Gambit on Netflix? First Merchants Corporation to Report Fourth Quarter 2022 Financial Results, Host Conference Call and Webcast. And, of course, its all worked. The meeting was held on February 24, 2021. Charlie Munger: Ben Franklin was one of the wisest men who ever lived. You have said that the single best way is to deserve a good spouse because a good spouse is by definition not nuts. Given the developments over the past year, could you give us an update on your assessment of wretched excess in the system? I think the result would have been worse if either party had been in control all by itself for the whole period. But, I find that the old ways of doing things still work. They are joining the modern world very rapidly and theyre getting very skillful at operating. Question: You identified the opportunity in electrification and invested in BYD. Would you share a few stories about him and your fondest memory? daily journal corporation investor relations | Tulipnos ltalnos Iskola Similar Job Titles: Hed been a receiver for a bank. . Charlie Munger: I dont know anything about Haven. Larry Summers has recently been quoted as being worried that were having too much stimulus. Charlie Munger: Early 70s. FOR ANNUAL MEETING OF SHAREHOLDERS. Daily Journal Corp - Filing History - Charlie Munger - Fintel Investors Will Want Seneca Foods' (NASDAQ:SENE.A) Growth In ROCE To Persist 7/31/2022 8:49 AM. But, I dont think Ive got a lot to contribute. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California. When it gets difficult, I dont think theres any automatic fix for difficulty. Latticework Podcast The disruption from the decline in newspapers has had a significant impact. Nobody should believe that Robinhoods trades are free. I dont think we have made a lot of horrible mistakes. In other words, its your money. So, the people part has changed quite considerably being a small company. At about the same time, we bought a newspaper in Phoenix and that worked out extremely well. Sign-up Good Earnings for Salesforce Might Give Activist Investors a Chill Pill Daily Journal Corp is an investment fund managing more than $174 million ran by Tu To. If you were offered a fresh start today, what would you do differently in life and in investing? Charlie Munger: Were really old both of us. And thats the right way to do it. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. Can you provide similar insight regarding the future at the Daily Journal and would you consider implementing policies like those at Berkshire so shareholders can get to know the up-and-coming leaders in the organization? Charlie Munger: Robinhood trades are not free. 2022 Junto Investments, all rights reserved. Always intelligent. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. But I dont think everybody can be a great investor or a great chess player.