Theyve served us well over the years. I dont think Ive got any great insight about hydrogen. DAILY JOURNAL CORP Top 13F Holdings - WhaleWisdom.com Im afraid thats the way we all have to leave our swords. It seems to involve a lot of your standard causes of human misjudgment. Im not saying I wanted to live in China. We would all say that. What, for example, would you recommend as course materials? Daily Journal Corp's largest holding is Bank of America Corp. (North Carolina National Bank) with shares held of 2,300,000. So, you can understand why Warren got disenchanted with Wells Fargo. Similar Job Titles: Im way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage. They dont work that hard at figuring out what works and what doesnt. 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. If so, how do you think society should address it, especially because poor countries require much more cheap energy to reduce poverty? Theres no question about the fact that Wells Fargo has disappointed long-term investors like Berkshire because the old managementwhich is now removedwere not consciously malevolent or thieving but they had terrible judgment in having a culture of cross-selling where the incentives on the poorly paid employees were too great to sell stuff that customers didnt really need. Youre better off concentrating your decision power on one person the way the Li Lu partnership does and then choose the right person. Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. I think its much easier to find five than it is to find a hundred. Charlie Munger: Modern monetary theory means that people are less worried about an inflationary disaster like Weimar Germany from government printing of money and spending it. 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. DAILY JOURNAL CORPORATION was incorporated on 13 Apr 1987 as FOREIGN STOCK company type registered at 915 EAST FIRST STREET LOS ANGELES CA 90012. djco20191220_def14a.htm - SEC Daily Journal Corps portfolio is diversified across 3 sectors. Would you mind elaborating on how a professor or individual should go about building a curriculum around this approach? Daily Journal Corp's portfolio is diversified across 3 sectors. What could investors do to cope better with periodical frenzy? So he married her. Of course, its hard to negotiate in such a field. So, its a serious problem. I said to Rick, were going to make Gerry the head of the Daily Journal. I think that to some extent the complaint about the rich getting richer as a result of the COVID panic is a misplaced concern. How do you recognize a potential downfall in a company you hold/invest in? Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Question: Why, almost two years ago, did you believe that Costco was the only U.S. stock worth buying? 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. What little newspaper company has come through the crisis of this destroying of all the newspapers better than the little Daily Journal? And I think both of us have done the same thing; we just suck it in and cope. Type a symbol or company name. Occasionally, some damned fool will suggest something that violates the laws of physics and I always turn off my mind the minute I realize the poor bastard doesnt know any physics. In the past few years, equity prices have increased significantly and cash has arguably become riskier due to central banking policy. 264 Sara.Pellegrino@iovance.com. Everyone knows this isnt a small cap Berkshire Hathaway. Knox Lane was founded in 2019. And do you and Warren have any tricks or shortcuts to size people up quickly and accurately? In 1860, GDP per capita in China was 600. 915 E. 1st Street. Question: What is the biggest competitive threat to U.S. banks like Bank of America and US Bankboth equity holdings of the Daily Journal Corporationover the long term? He was very amiable the way he talked about it. 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. As a matter of fact, what happens is to make a nation rich, you need a free market system. Were beholden to the guidelines of the county of Los Angeles and other counties. Download 13F Summary Description Daily Journal Corp. Daily Journal Corp. engages in the publication of newspapers and websites covering California and Arizona. Has the quality gone down? Charlie Munger: Well, I never owned a share of General Electric because I didnt like the culture. Through invitation-only events and member publications, MOI Global fosters a community of intelligent investors united by a passion for lifelong learning. I call it deworsificationwhich I copied from somebody. Question: Given all of your donations to physics, what is your favorite way of applying physics to societys problems and also to investing? The member publications, including The Manual of Ideas, have won acclaim for their depth, originality, and breadth of perspectives. 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. . New York, NY (March 25, 2021) - News Corp announced today it has agreed to acquire Investor's Business Daily from O'Neil Capital Management. And I dont know whether hes right or not. Daily Journal Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more. The Zurich Project regarding their board of directors using the Board Diversity Matrix. The Daily Journal is a legal publisher in Los Angeles, spun out in 1986 as a public company from a closed-end fund Munger and Guerin owned. We were trying to save the whole economy under terrible conditions. The first rule of a happy life is low expectations. Ive been pretty quiet. Request Information The company's other titles include Daily Commerce, The Daily Recorder and the Inter-City Express . Always tell the truth and never lie to anybody about anything. Daily Journal Corp is an investment fund managing more than $174 million ran by Tu To. to see more advanced email alert options such as selecting any type of Ive been around for a long time and my policy has always been to just write them out. Chairmans Letter Daily Journal Corp 13F annual report (2023) | wallmine 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. [1]: Of course, that will still work. About the awards. During his tenure with Diamond, Matthew worked with top-tier investment banks, global payments firms, and international insurance companies to deliver high impact solutions to his clients most challenging business problems. Tom Murphy used to say that his system of management was to delegate just short of total abdication. 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. We are in fact being a more difficult type of software business than Microsoft. Charlie Munger: Well, I hope we dont have fewer truck stocks because Berkshire Hathaway is deeply involved in truck stops. Take Gerry. Charlie Munger: We will not be following Tesla into bitcoin. View the latest DJCO financial statements, income statements and financial ratios. That thing circulates. Thats been greatly curtailed. The hydrocarbons are also needed as chemical feedstocks. I think all of this activity is regrettable. On December 18, 2020the record datethere were 1,380,746 shares of common stock of the company outstanding. And my advice would be if you have a fixable disadvantage, remove it. Charlie Munger: 2021 Daily Journal Annual Meeting Transcript. They just copied Adam Smith and left out the free speech and it worked fine for them. Charlie Munger: Well, of course, the places downsized. Theyre no longer using peasant girls to beat the brains out of our little shoe companies in America. 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. The Corporation will host a fourth quar. Question: Does management, in your opinion, have a moral responsibility to have their shares trade as close to fair value as possible? Los Angeles, California 90012 . It was totally required. $174 million and $174 million respectively. Ellen Ireland will be inspector of elections. The two most similar investment funds to Daily Journal Corp are Platform Technology Partners and Mtm Investment Management. He knew everybody and everything. When these people go, there is none replacing them. "While Kimberly was head of Investor relations . Ill paraphrase here. And we cant go to many offices because theyre closed. Create your Watchlist to save your favorite quotes on Nasdaq.com. They are joining the modern world very rapidly and theyre getting very skillful at operating. You used examples of Lee Kuan Yews good judgment in choosing someone with brains over certain physical attributes in your past interview. Find the latest Daily Journal Corporation (DJCO) stock quote, history, news and other vital information to help you with your stock trading and investing. Latticework New York This information can be used by investors to verify and understand the financial position of the company. But, but by and large, most of the knowledge has been available for a long time. Do you think this is a worthwhile policy objective given the effect it has on creating financial excesses and income inequality? Were going to bust our ass to try and do a good job. There are certain behavioral rules. Is it digital wallets like PayPal, Square, or Apple Pay? And, I was always aware of that and so Ive accepted these damned annual meetings. Computershare Investor Services 8742 Lucent Boulevard, Suite 225 Highlands Ranch, CO 80129 . I dont know which is worse. A lot of things are going to change. Your proxy in the enclosed form is solicited by the Board of Directors of the Company for use at the Annual Meeting of Shareholders to be held on February 12, 2020 at 10:00 a.m. Pacific Standard Time, at The Center at Cathedral Plaza, at 555 W . Thats one you can easily arrange. Commission-free trading is not free. Timeless Selections The votes in favor of that are 995,356 against 120. Question: Many believe that inequality accelerated by this pandemic has reached alarming levels that demand drastic solutions such as a wealth tax. Charlie Munger: Early 70s. If you try and reduce the poverty too much, its counterproductive. In-person events hosted by MOI Global bring together inquisitive minds to explore ideas of consequence in investing, business, and life. I didnt get to where I am by going after mediocre opportunities. At this rate, hell likely (hopefully) reach the longevity of Irving Kahn. DATAROMA Superinvestors Portfolio Holdings Charlie Munger - Daily Journal Corp. Period: Q4 2022 Portfolio date: 31 Dec 2022 No. Transcribed image text: Auditor Changes at Daily Journal Corporation Charlie Munger is vice chairman of Berkshire Hathaway Inc. and is informally known as War- ren Buffett's "right arm." Munger also serves as chairman of Daily Journal Corporation, which publishes 10 newspapers and offers specialized information services and technology-based prod- ucts. He cared terribly about not making bad loans or incurring dumb expenses. What happens is that every human being tends to believe way more than he should in what hes worked hard to find out or where hes announced publicly that he already believes. Are they more stable? As a matter of fact, its not clear to me that China would have done better if theyd copied every aspect of English civilization. Put me down as skeptical. Advisory, processing and support for complex transactions, including M&As, IPOs and stock splits. Daily Journal Corporation - Wikipedia Performance 2/24/23. All we can promise is that were gonna try and so far as I can tell, were doing pretty well. Question: Your advice given on choosing a good spouse in Poor Charlies Almanac is terse. Nobody was trying to make the rich richer. CFO & Investor Relations Contact: 398.5k: N/A: 1962: Ms. Maryjoe Rodriguez: Pres: N/A: N/A: 1984: Ms. Michelle Stephens: Exec. But Im flabbergasted at how well theyre doing. I admire him that much. On the other hand, we have a fair amount of time to do it. And what he does is he sells about half of them always. Since the annual event first launched in 1996 . What is interesting is that in wealth management, a lot of people think that if they have a hundred stocks theyre investing more professionally than they are if they have four or five. Daily Journal Corporation offers legal software and services to US courts and other justice agencies, including browser-based case processing systems (eCourt, eProsecutor, eDefender, and eProbation) and electronic filing and payment tools (eFile, ePayIt). Now 16 years have passed. But the Chinese have proved that you dont need free speech to have a wonderful economy. As a matter of fact, it will be here for a long, long time if we stop using many hydrocarbons in transportation. And his conclusion is that mankind should just step up to it and do it. DAILY JOURNAL CORP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RES.. Daily Journal Corporation Announces Financial Results for the Nine Months ended June 30.. Daily Journal : Fiscal Q2 Earnings Snapshot. The mantra he said over and over again is very simple. LEARN MORE. We have our crotchets and I just dont know enough about it to want to go into that activity. And, of course, its regrettable. In his early education, he was the second-ranked student in the school. Im satisfied with the way things have worked out and Im not gnashing my teeth when other people are doing better. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of . Thats true whether youre Benjamin Franklin or Joe klutz. What happened is that BYD is very well positioned for the transfer of Chinese automobile production from gasoline-driven cars to electricity-driven cars. Daily Journal | DJCO Stock Price, Company Overview & News - Forbes Seneca Foods Reports Sales and Earnings for the Three Months Ended July 2, 2022 8/11/2022 4:10 PM. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Every value investor tries to get more value than he pays for. Charlie Munger: Well, I so rarely hold a company like BYD that goes to a nosebleed price that I dont think Ive got a system yet. I think the oil and gas industry will be here for a long, long time. Charlie Munger: Well, Im constantly making mistakes where I can, in retrospect, realize that I should have decided differently. Just think of the things that were once prosperous that are now in failure or gone. But he previously worked for Rick Guerin and me in running a little mutual fund that we bought control of. And, I was not surprised when it blew up. And I think that that is inevitable because its difficult to be a good investor. And there arent many people that can do that. He absolutely took over a malarial swamp and turned it into modern Singaporein his own lifetime. Of course, its hard to know what the future holds when in a complex system where you cant predict a lot of things. 2023 Annual Meeting. So we have one basic system configured in a number of different ways, including workers comp for a large state in the United States. Intelligent Investing in Crisis Mode. I would imagine that applies to the broad market too. And thats very interesting. At the age of 97, Charlie Munger wasnot surprisinglysharp as a tack. Some people think that value investing is you chase companies that have a lot of cash and theyre in a lousy business or something. Daily Journal Corporation has 1 stars. He took over a malarial swamp with no army, no nothing. But, of course, if we got a chance to do it again, we would do it better. And when the old CEO of the Daily Journal died, Gerry was managing the business affairs of the Munger Tolles law firm. Because of that fact, it's of the utmost importance for companies to maintain strong . I dont think its like the newspaper business. The total portfolio value may be much higher due to cash What are his thoughts on modern monetary theory? 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 The jurisdiction for this foreign stock company is SOUTH CaliforniaROLINA. The Form 13F report requires disclosure of the manager that files the report, the name and class of the security, the CUSIP number, the number of shares . Question: How do you control your investments in a world where reasonable companies with a good image like General Electric sink rapidly into the bottomland of the stock market. He loved to kid people. Question: In 1999, the year the Daily Journal bought Sustain Technologies, the traditional business employed 355 full-time employees and 61 part-time employees. All-Time Favorites You have said that the single best way is to deserve a good spouse because a good spouse is by definition not nuts. DAILY JOURNAL CORP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ANDRESU.. Daily Journal Corporation Announces Financial Resultsfor the Three Months ended Decemb.. DAILY JOURNAL CORP Management's Discussion and Analysis of Financial Condition and Res.. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September 3.. Daily Journal Corp : Change in Directors or Principal Officers (form 8-K). But I do think having a whole system to sell hydrogen is difficult. 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? Questions: Why are some people incapable of learning new ideas and behaviors? And all I can say is that well do the best we can. Good Earnings: Salesforce's revenue was up 18% year-over-year, totaling $31.4 billion, and it's expected to grow to $34.5 billion next year. Daily Journal Corp (DJCO) 10K Annual Reports & 10Q SEC 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 . Subscribe to WhaleWisdom to view all filing data And I think the directors of GE deserve a lot of credit for making Larry Culp the CEO. Its just that some people look for values in strong companies and some look for values in weak companies. Question: Mr. Munger is a champion of Chinese stocks. Daily Journal Corporation Reports Earnings Results for the Full Year Ended September 30, 2022. Charlie Munger: Well, I do have a tip. Question: Do you believe the valuations for electric car manufacturers are in bubble territory? 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. Charlie Munger: Well, I certainly hope that they succeed mightily in their software endeavor to automate all these courts for the modern world. How do you decide to hold on to a stock or sell some? Tilly's, Inc. Apartments have come through better. New Investor Information - Cel Sci He gasped and said, but hes never had anything to do with newspapers or anything else. Charlie Munger Just Doubled Down on Alibaba: Should Investors Follow 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? 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. What do you think the long-term consequences will be? And it has saved Los Angeles a fortune because gas is so much cheaper than gasoline. He was a one party system but he could always be removed by the electorate. But, of course, its a very difficult field. Rich Eisinger, Great content, great people. Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities You can hardly think of anything more important in life than being reliable for the people who trust you. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California. And he made a very favorable impression. Question: It seems likely that the current Fed policy of keeping interest rates near zero will only exacerbate the income disparity in this country by benefiting those who own the financial assets. Of course, that made him very leery of dumb loans. Charlie Munger: Well, I cant top Lee Kuan Yews example. You dont need to worry about them. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. We are subject to the orders and directions of those counties which, before, really didnt impact anything. So, its a very interesting competitive field. Alt Turnover is calculated by taking either the total MV of new purchases or Or, is it impossible to realize a deterioration quickly enough to exit without a loss? If you do that all the time; if youre looking for disconfirming evidence and putting yourself on a grill, thats a good way to help remove ignorance. We expect many of our employees to always be at client court offices because we work with them very closely to make sure they get what they need. are based in the United States. 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. Question: It seems like everyoneincluding actors, athletes, singers, and politiciansis getting into the business of promoting their own SPAC. When I was young, I rezoned some properties very successfully. Everybodys got a different situation. But there again, it's an interesting thing. Subscribe Columns Labor/Employment Viking River PAGA ruling has no clear destination for employers Mar. Question: Why is Berkshire Hathaway selling shares of Wells Fargo as quickly as one can and the Daily Journal has sold one share? Many of our systems are in the cloud. I think most people are born with a happystat. The high margin, profitable and rapidly growing digital first financial news and research business will be operated by Dow Jones, a News Corp subsidiary. 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? And even if you have a natural gift, you cant be good at it unless you start playing at a very young age and get huge experience. Daily Journal Corporation (DJCO) Company Profile & Facts - Yahoo! But everybody cant be better than everybody else. 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! daily journal corporation investor relations The majority of the companies in the funds portfolio are large-cap stocks. And they dont do that very wellIm talking about the business schools.