Its chairman is Steven Myhill-Jones. And, of course, when things get extreme you have things like that short squeeze. Thats one you can easily arrange. Charlie Munger: Well, these things do happen in a market economy. And when the old CEO of the Daily Journal died, Gerry was managing the business affairs of the Munger Tolles law firm. Daily Journal Corporation : Announces Financial Results for the Three Months ended Decembe.. Daily Journal Corporation Announces Financial Results for the Three Months ended Decemb.. Daily Journal : Management's Discussion and Analysis of Financial Condition and Results of.. Daily Journal Corporation Announces Financial Resultsfor Fiscal Year ended September 3.. Daily Journal Corp : Changes in Registrant's Certifying Accountant, Financial Statements a.. Daily Journal : Fiscal 3Q Earnings Snapshot, Daily Journal : Fiscal 2Q Earnings Snapshot. Were going to bust our ass to try and do a good job. Charlie Munger: Well, I do have a tip. And, of course, its all worked. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of . On December 18, 2020the record datethere were 1,380,746 shares of common stock of the company outstanding. And I think wise people should just stay out of them. Question: Do you believe any psychological personality tests, such as the Myers-Briggs Type Indicator, to be of any good in choosing a compatible partner, given that choosing a spouse is probably the most important decision one can make in life. 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. He was a one party system but he could always be removed by the electorate. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. As a matter of fact, it will be here for a long, long time if we stop using many hydrocarbons in transportation. Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities Question: Why is Berkshire Hathaway selling shares of Wells Fargo as quickly as one can and the Daily Journal has sold one share? And if there is one thing the world could learn from Singapore, what would that be? People really trust Costco will be delivering enormous value. And in biology, what happens is the individuals all die, and eventually, so do all the species. 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. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. Charlie Munger: Well, he was one of my closest friends for many decades. How concerned is he about Chinese government interference as seen recently with Ant Financial, Alibaba, and Mr. Jack Ma. Licensed software for many ten-year contracts is currently in the multi-year implementation stage. And he made a very favorable impression. And, of course, it works way better than our medical system. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Mitch Gellman - Investor Relations & Strategic Adviser - LinkedIn But he could play chess blindfolded at just below the Grandmaster level. To the extent that my thoughts have helped my life, I think Ive pretty well run the course. of stocks: 4 Portfolio value: $174,434,000 Holdings Activity Buys Sells History * Reported Price is the price of the security as of the portfolio date. Quickly find out what the most recently closed or increased positions are. What prevents the wide use of helpful psychological insight is the fact that psychology gets really useful when you integrate it with all other knowledge. Daily Journal Corp. (S.C.) Common Stock (DJCO) - Nasdaq Thank you for all you do to educate us. I dont think it was a mistake to buy the Daily Journal when we did, paying the price we did. There are certain behavioral rules. I think that would be insanity. And so I dont think its necessarily crazy that good companies sell at way higher multiples than they used to. Rose Blumpkin had quite an effect on the Berkshire culture. Question: You have revised your famous talk on the standard causes of human misjudgment with considerable new material back in 2005. 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. Just think of the things that were once prosperous that are now in failure or gone. Performance numbers calculated through 2023-02-14. Asian Investing Summit Los Angeles, California 90012 . Daily Journal Corporation has 1 stars. Question: You often advocate for learning from other peoples big calamities and stupidities. A little wisdom in spouse selection is very desirable. But I do think having a whole system to sell hydrogen is difficult. SEC Form 13F Filing History. New Investor Information - Cel Sci As a result of holding those two positions, we have a lower cost than anybody else and we make more money than practically everybody else. Type a symbol or company name. 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. Could you please elaborate on the subject and could you consider giving a talk on this particular subject? Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Daily Commerce. Charlie Munger's Daily Journal Corporation Is A Cohiba Cigar Butt Charlie Munger: Well, of course, if a person is a chronic drunk, we avoid him. 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. I recommend that other people follow my practice. There are companies that Daily Journal Corp is getting rid of from its portfolio. As a matter of fact, its not clear to me that China would have done better if theyd copied every aspect of English civilization. We take the situation as it is and try to solve it. Were beholden to the guidelines of the county of Los Angeles and other counties. When completed, an email will be sent to the email address you specify The best venture capital operation probably in the whole world is Sequoias and they are very good at this early stage investing. Description Daily Journal Corp. Daily Journal Corp. engages in the publication of newspapers and websites covering California and Arizona. He absolutely took over a malarial swamp and turned it into modern Singaporein his own lifetime. Theres hardly anything he touched he didnt improve. Delayed Nasdaq No, I dont have any secrets. I recognized early that Gerry could run anything he wanted to run. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California. 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. Daily Journal Corporation (DJCO) - Yahoo! We hope theyll continue doing magnificently well. 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. Corporate Governance. There are these periods in capitalism. I think its just to some extent you either have it or you dont. And interested and up to speed and didnt have to take a lot of time to get background information to make his comments. Question: Do you believe the valuations for electric car manufacturers are in bubble territory? Non-members may peek into the world of MOI Global via limited access. Can U.S. Treasury bonds be such a case today? I came to law school having learned the method of learning and nothing has served me better in my long life than continuous learning. What little newspaper company has come through the crisis of this destroying of all the newspapers better than the little Daily Journal? And, of course, I think its vastly stupid for any state to be user-friendly to the rich people. Contact. One of the great advantages of the way Berkshire operates is that we associate with a lot of marvelous people. 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. We admire the company and like its position. Generally, what people do is they have financial reserves so they have some options if trouble comes, and they adapt the way Gerry has to require downsizings or require upsizings. In the past few years, equity prices have increased significantly and cash has arguably become riskier due to central banking policy. And, we hope to do well in it. As November inches closer, all things in the political world will ultimately begin and end with the midterm elections. Governance. Is there anything that you wish you had added to your checklist sooner? I find that by working at that, I can actually make some improvements even though Im old. Its very difficult to hire reporters in the San Francisco area with all the demands coming from the internet companies wanting to have an editorial product. Florida would have a really serious problem. I cant help you. Where does it appear most egregious? The daily journal stock sells way above the price I would pay if I was buying new stock. Ellen Ireland will be inspector of elections. The first rule of a happy life is low expectations. I think management should tell it like it is at all times and not be a big promoter of its own stock. He was very courageous and generous in helping everybody around him all his life. Many of our systems are in the cloud. LEARN MORE. And I dont think that we or the Daily Journal is getting ahead because weve got some wonderful macroeconomic insight. When these people go, there is none replacing them. The majority of the companies in the funds portfolio are large-cap stocks. We made the rich richer, not as a deliberate choice, but because it was an accidental byproduct of trying to save the whole civilization. And theyre all dyingevery damn one of them almost. Corporate Actions Services. How did Eugene achieve incredibly low loan losses over the long term while so many other bankers have failed miserably? It's always a wonderful pleasure to hear Charlie Munger speak at the Daily Journal Annual Meeting. Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders. That makes the whole thing very awkward. 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. I think you should try and make your money in this world by selling other people things that are good for them. The agent name of this company is: GERALD L SALZMAN ,and company's status is listed as ACTIVE. But, of course, I think there will be more automation in transportation of all kinds in the future. So, I dont think Bitcoin is going to end up as the medium of exchange for the world. And its rather interesting. But, of course, you should start out by studying the history of capitalism, how it worked, and why before you start studying business. Its a funny way to make money. That way, whatever happens, he feels smart. Los . But its hard for anybody. And we immediately ascended, we put Gerry in, and hes made every decision wonderfully ever since. Tom Gayner, Adds value to my research process. I recommend that other people follow my example. Is there any new material? Question: Mr. Munger recently raised the alarm about the level of money printing taking place. Given the developments over the past year, could you give us an update on your assessment of wretched excess in the system? Transfer Agent | Shareholder Services | Investor Relations | Norfolk Were all pretty forgiving of ourselves too which is probably a good thing.