Were beholden to the guidelines of the county of Los Angeles and other counties. I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that theyre way above average. As a matter of fact, what happens is to make a nation rich, you need a free market system. How concerned is he about Chinese government interference as seen recently with Ant Financial, Alibaba, and Mr. Jack Ma. I dont think we have any great gift at making macroeconomic predictions. And weve had marvelous people here to help us do it through very difficult times and one of them is Gerry Salzman. Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter. Question: I enjoyed your Caltech interview and wanted you to elaborate and provide more insights on your point of great investors and great chess players. In fact, what a lot of shareholders actually do is crowd in buying stocks on frenzyfrequently on creditbecause they see that theyre going up. Request Information Are Berkshires managers aware that through their efforts to create business success at Berkshire that they have been involved in saving millions of lives? Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. Question: What is the wisdom behind holding bank stocks compared to other stocks. But there again, it's an interesting thing. Florida would have a really serious problem. I said it wont matter. We got a dividend of two and a half million shortly thereafter. We are very excited to look forward to enabling the courts to function as we know that they want to and will in the future. And why did you feel that Amazon had more to fear from Costco than Costco had to fear from Amazon? Question: Do you think its best to invest in the common stocks of businesses early or while they are more nascent and the industry is smaller, or wait until they are the clear winner of a more mature industry? Theres a lot of temptation to do dumb things which will make the earnings next quarter go up but are bad for the long term. However, is there a price too high that the companys future profits simply cannot justify? How would they think about current opportunities with low rates and low inflation? But I dont think everybody can be a great investor or a great chess player. Corporate Governance Daily Journal Corporation's ISS Governance QualityScore as of February. And some bankers yield to the temptations. I cant help you. I think theyre a bad investment when interest rates are this low. Its difficult to break into the legal advertising system which supports so many newspapers, not only in California but elsewhere. But, no, I dont think Treasury securities are a big problem. That approach will never go out of style. Previously, Buntain worked at The Carlyle Group, where he . Question: Has your opinion on cryptocurrencies remained the same? Our editorial system and our advertising system are all in the cloud. The best venture capital operation probably in the whole world is Sequoias and they are very good at this early stage investing. The fund focuses on investments in the United States as In other words, when we shout our knowledge out, were really pounding it out. Question: Youve said several times that the best way to learn about business is to study the multi-decade financial results of great companies. He was death on corruption which was a very good idea. We have our crotchets and I just dont know enough about it to want to go into that activity. Part of the reason for that was cultural. And some types of real estate in recent years has been particularly difficult. Question: What do you hope the future of the Daily Journal Corporation looks like in a decade? 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. Charlie Munger's Daily Journal Corporation Is A Cohiba Cigar Butt 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? At the age of 97, Charlie Munger wasnot surprisinglysharp as a tack. I dont even know how much more difficultor how much more dangerousit would be to deal with hydrogen than it is to deal with gasoline which is also a dangerous substance. Question: We have a couple of questions about J.P. Rick Guerin. He knew everybody and everything. So its a very theoretical discussion. And if you believe Jeff Bezos is one of the best businessmen you have ever known, would you consider investing early in any of the new projects he will inevitably focus his attention on now that he will not have to be as concerned about the day to day responsibilities of Amazon? and a top 10 holdings concentration of 100.0%. DAILY JOURNAL CORPORATION : Shareholders Board Members Managers and Of course, people behave more sensibly when theyre spending their own money. We bought all these buildings cheaply. Charlie Munger: I dont have any wonderful new thoughts. Charlie Munger: I think everybody is willing to hold stocks at higher price-earnings multiples when interest rates are as low as they are now. 2022. Has the quality of the publication suffered as the employment levels have decreased? Daily Journal Corp. - AnnualReports.com Most Recent Annual Report MOST RECENT 2019 Form 10K View Form 10K (HTML) Daily Journal Corp. does not currently have any hardcopy reports on AnnualReports.com. Delayed Nasdaq I admire him that much. Los . Los Angeles, California 90012 . Daily Journal Corporation (DJCO) - Yahoo! When the pandemic is over, I dont think were going back to just the way things were. By the way, thats not the normal outcome in America. I feel the same way about those choices. It says that man is too soon old and too late smart. But theres no rule that life has to be easy on the mental side. Member-Only Podcasts Wide-Moat Investing Summit I think people have the theory that any intelligent hardworking person can get to be a great investor. You dont need to worry about them. DAILY JOURNAL CORPORATION - Print Media - 915 E 1st St, Los Angeles, CA - Phone Number - Yelp Daily Journal Corporation 5 reviews Unclaimed Print Media Frequently Asked Questions about Daily Journal Corporation How is Daily Journal Corporation rated? For example, Coca-Cola in the past. Nobody else has ever taken a big country out of poverty so fast and so on. This will schedule a job to export all requested 13f holdings data for this filer. And in biology, what happens is the individuals all die, and eventually, so do all the species. But, of course, if we got a chance to do it again, we would do it better. 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? Gerry, you have a comment on that? But, of course, you should start out by studying the history of capitalism, how it worked, and why before you start studying business. Daily Journal Corp. (S.C.) Common Stock (DJCO) - Nasdaq At about the same time, we bought a newspaper in Phoenix and that worked out extremely well. And if you stop to think about it, that is also true at the Daily Journal. I was very lucky. Type a symbol or company name. The Hamilton Live 600 14th Street NW Question: Do you think value investing is still relevant in a GDP-decreasing world? Also, when you get reverses, if you just suck it in cope, that helps if you dont just fretfully stew yourself into a lot of misery. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. When you get into these hard questions, theres a lot of very intelligent honorable people who reach opposite conclusions. Practically everybody does that. And do you and Warren have any tricks or shortcuts to size people up quickly and accurately? , 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. Who is MOI Global? All rights reserved. And interested and up to speed and didnt have to take a lot of time to get background information to make his comments. Question: You identified the opportunity in electrification and invested in BYD. The majority of revenue is generated from Traditional business segment. I was good at having low expectations and that helped me. Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. Charlie Munger: Well, its not easy to handle accumulated money in the current environment when these stocks are so high and partials of real estate of certain kinds are also very inflated. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. And he was just so good. LOS ANGELES, CA But everybody cant be better than everybody else. Costco I do think has one thing that Amazon does not. But the accountants are duly elected. Thats the good news. I think most people who are assuming tolerable success in life are about as happy as they were ordained to be. Charlie Munger: Well, I hope we dont have fewer truck stocks because Berkshire Hathaway is deeply involved in truck stops. Charlie Munger: Well, the business around here that has the most promise is our software business automating the courts. And its really stupid to have a culture that encourages as much gambling in stocks by people who have the mindset of race track betters. And it has saved Los Angeles a fortune because gas is so much cheaper than gasoline. Stocks with a size of more than $10 billion in market cap make up Knox Lane was founded in 2019. It was totally required. 306.00. PROXY STATEMENT. Charlie Munger: Real estate has always been a difficult field. If you go to a little country like Estonia, the whole damn country is on the internet and its a very good idea. And thats the right way to do it. But he could play chess blindfolded at just below the Grandmaster level. How would you advise these institutions to manage their endowments over the coming decades? The editorial team seeks out thought-provoking insights and variant perspectives from across the membership network and beyond. As we can see from the deteriorating U.S. relationship with China, the Western world does not understand China. 2023 Annual Meeting. Ive been around for a long time and my policy has always been to just write them out. 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. Tilly's, Inc. Theres a lot of competition and were a very small company compared to our main competitor. And that isnt necessarily right for its customers. That was not a startup, but it was so small and thinly traded that we were buying into a venture capital type investment but in the public market. 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. Sign-up And by the way, I think its hard to teach. That is true and makes sense. Investor Overview | Graham Holdings Company Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities And theyre all dyingevery damn one of them almost. Its chairman is Steven Myhill-Jones. Charlie Munger: Well, that is easy. I hope that that will continue in the future. LEARN MORE. Its hard to run a bank intelligently. I do think that Im way less afraid of inequality than most people who are bleeding about it.

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