DJCO - Daily Journal Corp Stock Price Quote - Morningstar And what are the implications, since Treasury assets underpin the value of every other asset? I think the result would have been worse if either party had been in control all by itself for the whole period. Trending Stocks. But he previously worked for Rick Guerin and me in running a little mutual fund that we bought control of. Nobody was trying to make the rich richer. Chinas economic record among the big nations is the best that ever existed in the history of the world. Featured Content You can hardly think of anything more important in life than being reliable for the people who trust you. Gerald Salzman: Charlie refers to the courts, many times. Daily Journal Corp is based out of Los Angeles. So its very difficult. In other words, its your money. And I was like Rip Van Winkle; when I tried to come back to it, I found that the world had changed. I dont think well change on that. Charlie Munger: Well no, I dont think we have a bubble in Treasury securities. Accounting is also in the cloud. Of course, we accomplished quite a bit working together. What do you think we can do to help those who are currently falling behind as a result of this pandemic? I do think banking run intelligently is a very good business. the MV of securities sold, whichever is less, Apartments have come through better. And I just think it was academically inconvenient for them. I predict that if they do that, a lot of people will leave Washington. But, I hardly think the editorial quality could go way up when employees were going down. Alt Turnover is calculated by taking either the total MV of new purchases or Latticework New York Matthew has over a decade of experience with global financial services firms including Goldman Sachs, Morgan Stanley, Merrill Lynch, American Express, and Ameriprise Financial. Charlie Munger: No, I would say that of course, theres some new material in misjudgment. He absolutely took over a malarial swamp and turned it into modern Singaporein his own lifetime. The Superinvestors of Daily Journal Corporation - Forbes So, you have to be a little closer to the employees needs, desires, babysitting, and all those activities that were kind of taken for granted in the past. In recent years, The Manual of Ideas has expanded to become more than simply the very best investing newsletter on the planet (Mohnish Pabrai). Question: Last February, you spoke about the wretched excess in the financial system. I feel the same way about those choices. But I do think having a whole system to sell hydrogen is difficult. And thats the right way to do it. I think that inequality is absolutely an inevitable consequence of having the policies that make a nation grow richer and richer and elevate the poor. Put me down as skeptical. Previously, Buntain worked at The Carlyle Group, where he . Charlie Munger: I think Ill skip that one. I do think that we dont know what these artificially low interest rates are going to do or how the economy is going to work in the future as governments print all this extra money. And, of course, what Im saying is that if I were teaching business I would start the way Harvard Business School did a long time ago. Implementation is expensed as provided, while the long-term recurring high-margin revenue is not yet included on the income statement. And, I was not surprised when it blew up. They do way more good than harm. And, we are really interested in doing a good job in Australia, in California, and all the other places where people have trusted us. And, we hope to do well in it. Daily Journal Corporation Company Profile | Los Angeles, CA 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. View the latest DJCO financial statements, income statements and financial ratios. And if there is one thing the world could learn from Singapore, what would that be? Theres an old German proverb Ive always liked. 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. They had to because the traditional business newspaper business is shrinking. I think the oil and gas industry will be here for a long, long time. I have a very simple idea on the subject. Question: What would management [of Daily Journal] do with a sudden windfall of profits? Touch device users, explore by touch or with swipe gestures. If you dont have master the rest of the knowledge you cant synthesize it with psychology. Relative to the number of outstanding shares of Bank Of America, Daily Journal Corp owns more than approximately 0.1% of the company. I learned those tendencies well enough to synthesize it with the rest of knowledge. Theyve got a better reputation for providing value than practically anybody, including Amazon. Gerry, can you ever remember Rick down? If the seas were to rise 60 feet, which could happen in another 100 years or so, wed have to build enormous barriers to sea entry. LOS ANGELES, CA 2023, Nasdaq, Inc. All Rights Reserved. They just copied Adam Smith and left out the free speech and it worked fine for them. Nobody should believe that Robinhoods trades are free. So, I think for some folks, early-stage investing is best, and for other folks, what Ive done in my life is best. They wouldnt be a lot happier if they were richer or a lot less happy if theyd been poor. All rights reserved. Charlie Munger: I dont know how permanent its going to be but it certainly caused a change. Thats interestingwho in the hell is voting against the accountants? Prior to forming Peterson Capital Management, LLC and launching Peterson Investment Fund I, LP, Matthew split time between Wall Street and London as Capital Markets Manager in the Financial Services Vertical at Diamond Management and Technology Consultants. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. If you were offered a fresh start today, what would you do differently in life and in investing? Throughout the transcript below, I have included clickable links to my notes and articles . divided by the total MV of the fund. 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. Thats been greatly curtailed. The stock has gained so much this year and last year. DJCO - Daily Journal Corp Valuation - NASDAQ | Morningstar Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. And theyre all dyingevery damn one of them almost. I find that by working at that, I can actually make some improvements even though Im old. Charlie Munger: Full Transcript of the 2021 Daily Journal Meeting - Junto I think the Chinese have behaved very shrewdly in managing their economy and theyve gotten better results than we have in managing our economy. This very special event honors excellence in the investor relations profession across the US and we are excited to welcome everyone for an evening of fine food, dancing and lots of celebrating! Question: Which do you think is crazier? Charlie Munger: I think any rich nation ought to have a social safety net that expands a little with its wealth. That happystat has more to do with their happiness and their outcomes in life. At the age of 97, Charlie Munger wasnot surprisinglysharp as a tack. And thats not a sure thing either. Daily Journal Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more. Daily Journal Corporation - Wikipedia Charlie Munger: Well, I dont participate at all. Astronics Corporation (ATRO) But I do admire what the Chinese have done. You fix what you can fit, and what you cant fix, you endure. And if you cant do that, youre not gonna win the great chess championships of the world and youre not gonna do as well in business as Henry Singleton did. So, Im kind of pleased that Im still functioning at all. I think you should try and make your money in this world by selling other people things that are good for them. I recommend that other people follow my practice. Washington State is actually considering a wealth tax at the state level. I dont define that as value investing. Theyre in a place thats gotten more valuable. How do you reconcile the idea of paying 50 or 60 times revenue for a growing but unprofitable business with the more traditional value investing concept of a margin of safety? Best Ideas Omaha Tilly's, Inc. At the age of 97, Charlie Munger wasnot surprisinglysharp as a tack. I admire him that much. And why did you feel that Amazon had more to fear from Costco than Costco had to fear from Amazon? What are the psychological implications of this type of market behavior? He was fun to be with because he was always jumping out of airplanes and parachutes and running marathons and so on, doing all kinds of things I would never consider doing. But, but by and large, most of the knowledge has been available for a long time. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. I dont think we have any great gift at making macroeconomic predictions. Daily Journal Corp (DJCO) 10K Annual Reports & 10Q SEC Is there anything that you wish you had added to your checklist sooner? Daily Journal Corp 13F annual report (2023) | wallmine But, no, I dont think Treasury securities are a big problem. Charlie Munger: Yes, I think that is rising as we sit here. Copy and paste multiple symbols separated by spaces. Whoever dreamed when I was young that Kodak and General Motors would go bankrupt. He gasped and said, but hes never had anything to do with newspapers or anything else. Youve reached the limit of my circle of competence. 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. Today, the majority of contractual revenue that can be identified is from implementations and licenses. Who is MOI Global? What, for example, is to stop the Chinese government from simply deciding one day to nationalize BYD? Solved Auditor Changes at Daily Journal Corporation Charlie | Chegg.com That doesnt happen. Munger also serves as chairman of Daily Journal Corporation, which publishes 10 newspapers and offers specialized information services and technology-based prod. Question: Does management, in your opinion, have a moral responsibility to have their shares trade as close to fair value as possible? Kipling once wrote a poem called The Women (The Ladies) and the concluding line was to the effect that you should learn about women from him instead of doing it yourself, because, he says, I know you wont follow my advice. 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. Currently, Daily Journal Corp's portfolio is worth at least $174 million. #CharlieMunger #DailyJournalAnnualMeeting #BerkshireHathawayYahoo Finance is the exclusive live stream platform for the fully virtual Daily Journal ($DJCO) Annual Meeting with Chairman Charlie Munger.The meeting features Daily Journal Chairman and Berkshire Hathaway Vice Chairman Charlie Munger and DJCO President and CEO Jerry Salzman. Question: BYD is in the Daily Journal stock portfolio with a very big paper gain. A passionate, seasoned, internal Investor Relations strategist, executioner, demand-builder and teammate proactively taking a Company's story to Wall Street -- one ticker at a time | Learn more . 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. or to simply have an email sent to you whenever we receive a new 915 East First Street. The editorial team seeks out thought-provoking insights and variant perspectives from across the membership network and beyond. Nothing contained on junto.investments constitute a solicitation, recommendation, endorsement, or offer by Junto or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. If youre willing to count small nations in the group, he had probably the best record that ever existed in the history of the world. Once again, the wit and wisdom of Charlie Munger was on full display at the deceptively youthful age of 97! Daily Journal Corporation (DJCO) Company Profile & Facts - Yahoo! Daily Journal Corp. Question: In recent years, Berkshire Hathaway has provided much greater insight into the companys succession thoughts and has made available at the annual meeting the companys leading managers that will steer Berkshires future. Question: You and Warren have been adept at quickly sizing people up, particularly business leaders and potential business partners. And I think that were crazy to allow it. 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. FOR ANNUAL MEETING OF SHAREHOLDERS. And some bankers yield to the temptations. Ideaweek Podcast So it gets very dangerous. Because value investingthe way I conceive itis always wanting to get more value than you pay for when you buy a stock. Type a symbol or company name. It's always a wonderful pleasure to hear Charlie Munger speak at the Daily Journal Annual Meeting. Charlie Munger: 2022 Daily Journal Annual Meeting Transcript - Junto You know, its just, its incredible whats happened in terms of the destruction. 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.