You are limited to the prior 8 quarters of 13F filings. According to the last 13-F report filed with the SEC, Tu To serves as the Chief Financial Officer at Daily Journal Corp. Its like evolution in biology. Gerald Salzman: None. Look around all this real estate. And weve had marvelous people here to help us do it through very difficult times and one of them is Gerry Salzman. And what are the implications, since Treasury assets underpin the value of every other asset? 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. Would you mind elaborating on how a professor or individual should go about building a curriculum around this approach? Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders. Question: You famously run investments through your mental checklist. Charlie Munger: Well, I certainly hope that they succeed mightily in their software endeavor to automate all these courts for the modern world. The daily journal stock sells way above the price I would pay if I was buying new stock. , 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. Sign-up Now 16 years have passed. The Daily Journal's 'Slow and Awful' Path to LegalTech Success It was an accident. God knows it was difficult but I dont think its a mistake. 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? Until his recent step-down as chairman of the board in April, the marketable. But he was 90 years of age. Gerald Salzman: Charlie refers to the courts, many times. Do it right the first time. Copyright 2023 Surperformance. And that is why Costco presents some danger to Amazon. Are they more stable? So, the people part has changed quite considerably being a small company. When you look at whats happened in California [in terms of] the price of real estate and rentals, weve reduced the number of offices we have both for Journal Technology and for the Daily Journal. Bitcoin reminds me of what Oscar Wilde said about fox hunting. Daily Journal Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more. 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? Company Search - astfinancial.com 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. My guess is we have suffered some editorial quality. Some people think that value investing is you chase companies that have a lot of cash and theyre in a lousy business or something. Questions: Now that we are cash flow positiveassuming the software business is investing organically as much as it canwhat is the philosophical thinking with respect to capital allocation at the Daily Journal. Question: You have revised your famous talk on the standard causes of human misjudgment with considerable new material back in 2005. All the good things. #CharlieMunger #DailyJournalAnnualMeeting #BerkshireHathaway Yahoo Finance is the exclusive live stream platform for the fully virtual Daily Journal ($DJCO) Annual Meeting with Chairman Charlie. 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. We use cookies to ensure that we give you the best experience on our website. And I dont think youll find me engaged in the massive rezonings in the future. LOS ANGELES, CA Bitcoin at 50,000 or Teslas fully diluted enterprise value of 1 trillion. I think some of these things are very difficult and I think, by and large, its a mistake to hire investment managementto hire armies of people to make conclusions. At the age of 97, Charlie Munger wasnot surprisinglysharp as a tack. And I applaud the result. If its not good enough for Berkshire, shouldnt we have the same standards? Charlie Munger: Were really old both of us. He cared terribly about not making bad loans or incurring dumb expenses. Without the method of learning, youre like a one-legged man in an ass-kicking contest. With no analysts or investor relations department, few understand the transformation that has occurred. Charlie Munger: Im a great admirer of Jeff Bezos whom I consider one of the smartest businessmen who ever lived. Daily Journal Corp's portfolio is diversified across 3 sectors. I prefer the United States. Charlie Munger's Daily Journal Corporation Is A Cohiba Cigar Butt The disruption from the decline in newspapers has had a significant impact. Mitch Gellman - Investor Relations & Strategic Adviser - LinkedIn Is there anything that you wish you had added to your checklist sooner? Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. No, I dont think I have anything to contribute. Question: What are Mr. Mungers thoughts on the recent GameStop short squeeze by social media and the resulting implications on short selling in the future? On the other hand, as you say, I didnt get rich by buying stocks at high price-earnings multiples in the midst of crazy speculative booms. He was death on corruption which was a very good idea. We cant promise what the outcome will be but we are trying pretty hard and we get some favorable impressions of progress. He was always upbeat. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. Question: Do you believe global warming is an existential threat to humankind? I think all good investing is value investing. Appian: Well-Positioned Platform for Building Enterprise Software, PDF Solutions: Lowly Valued, with Net Cash and Growing SaaS Business, Interactive Brokers: Automated, Low-Cost, High-Margin Business. 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. Wheaton delivers amongst the highest cash operating . Investor Relations Daily Journal Corp DJCO Valuation Morningstar Rating | Rating as of Jan 26, 2023 Quote Chart Stock Analysis News Price vs Fair Value . Of course, that will still work. 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. CI. In other words, when we shout our knowledge out, were really pounding it out. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California. I dont think I can teach you how to retroactively get a new accident yourself. No one knows for sure just how much government intervention is wise and at what point the government should stop intervening. Gerry, can you ever remember Rick down? are based in the United States. A little wisdom in spouse selection is very desirable. What can we do to increase knowledge, understanding, and appreciation of the Chinese civilization? But, I find that the old ways of doing things still work. I just see more and more of the rich people leaving. Because even as a boy, I knew a lot about who was sound who wasnt sound in Ohama. The base salary for Investor Relations Manager in companies like DAILY JOURNAL CORP range from $117,251 to $165,504 with the average base salary of $145,822. 264 Sara.Pellegrino@iovance.com. So, I dont think Bitcoin is going to end up as the medium of exchange for the world. 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. I dont think Ive got any great insight about hydrogen. We admire the company and like its position. DATAROMA Superinvestors Portfolio Holdings And by the way, I think its hard to teach. On balance, we hold in certain of these position when, normally, we wouldnt buy a new position. The Hamilton Live 600 14th Street NW So, its a serious problem. And I think that that is inevitable because its difficult to be a good investor. But, of course, its a very difficult field. Nobody else has ever taken a big country out of poverty so fast and so on. All rights reserved. We were together in that for a long, long time, and then Rick and I did the Daily Journal together on another occasion. Daily Journal Corporation (DJCO) - 8-K - Current report SEC FilingsYesterday, 3:57 PM Daily Journal Corporation (DJCO) - 10-Q - Quarterly Report SEC FilingsMon, Feb. 13 Daily. As a matter of fact, what happens is to make a nation rich, you need a free market system. What do you look for in a leader? And thats the way we handled Gerry. He knew everybody and everything. On the other hand, the buses in Los Angeles work on natural gas. 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. Were all pretty forgiving of ourselves too which is probably a good thing. Non-members may peek into the world of MOI Global via limited access. Youre right. Of course, its hard to negotiate in such a field. djco20191220_def14a.htm - SEC Question: It is estimated that the Gates Foundation has saved well over 100 million lives. Charlie Munger: Ladies and gentlemen, wherever you are, via Yahoo finances website. Astronics Corporation (ATRO) DJCO - Daily Journal Corp Stock Price Quote - Morningstar The bad news is its not clear whos gonna win all the business or how much money is going to be made. containing a link to download the .zip file of the CSV file(s) you requested. Charlie Munger: Well, thats a very good question. And what did the Chinese communists do with respect to death taxes? Find the latest Daily Journal Corporation (DJCO) stock quote, history, news and other vital information to help you with your stock trading and investing. What would be a mistake at the Daily Journal which we can all learn from? That approach will never go out of style. If you try and reduce the poverty too much, its counterproductive. The Daily Journal Corporation is an American publishing and technology company with hidden assets and off-balance sheet value. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Member of equity research team highly ranked by Institutional Investor and The Wall Street Journal. The stock appreciated probably way more than intrinsic value. Charlie Munger speaks at the Daily Journal annual meeting Do you think that digital economy has reached a tipping point such that this time is different and that conventional valuation measures for these types of companies are dead, or does this environment remind you of 1999? 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. 2023 Annual Meeting. Tilly's, Inc. to Report Fiscal 2022 Fourth Quarter Operating Results on March 9, 2023. Do Not Sell My Personal Information (CA Residents Only). So he was just a perfect banker if you wanted never to have any trouble. Charlie Munger: Well, of course, if they bring in a brand new technology you dont understand at all, youre at something of a disadvantage. That was a big error in judgment. 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. The one thing I will say is that a lot of the moats that looked impassable, people found a way to displace. 2023, Nasdaq, Inc. All Rights Reserved. View the latest DJCO financial statements, income statements and financial ratios. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September 30, 2022 LOS ANGELES, Dec. 16, 2022 (GLOBE NEWSWIRE) -- During fiscal 2022, Daily Journal Corporation (NASDAQ:DJCO) had consolidated revenues of $54,009,000 as compared with $49,925,000 in the prior year. We would all say that. Charlie Munger: Yes, I think that is rising as we sit here. We miss Rick terribly. Charlie Munger: Full Transcript of the 2021 Daily Journal Meeting - Junto And so, we cant promise were going to succeed. All text and design is copyright 2020 WhaleWisdom.com. And, of course, I think its vastly stupid for any state to be user-friendly to the rich people. But I dont think everybody can be a great investor or a great chess player. I would be curious to know how you started your interest in Singapore and Lee Kuan Yew. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. But Henry was a genius. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. I do think banking run intelligently is a very good business. I think when difficulty comes, I expect to have my share. We love it anyway. All rights reserved. Many, but not all SEC filings are available in the SECs EDGAR database. He was not a dictator. You saw the ebb and flow of industry and the creative destruction of the economic changes and so on. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The high margin, profitable and rapidly growing digital first financial news and research business will be operated by Dow Jones, a News Corp subsidiary. I do think that Im way less afraid of inequality than most people who are bleeding about it. Thats the nature of capitalism. Everybody has shortcuts to screen out certain hazards. Questions: Many observers see market behavior that reminds them of the Dot Com bubble: wild speculation, endless SPACs, and IPOs soaring on their first day of trading. DJCO | Daily Journal Corp. Company Profile & Executives - WSJ Daily Journal Corp is based out of Los Angeles. How would you advise these institutions to manage their endowments over the coming decades? Charlie Munger: I think Warren and I are better at buying mature industries than we are at backing startups like Sequoia. And if there is one thing the world could learn from Singapore, what would that be? Question: Many believe that inequality accelerated by this pandemic has reached alarming levels that demand drastic solutions such as a wealth tax. And thats the right way to do it. And when the evidence came in that the system wasnt working very well because some of the employees were cheating some of the customers, they came down hard on the customers instead of changing the system. Investor Relations & Corporate Communications 650-260-7120 ext. I hope the newspaper survives too. The Daily Journal Corporation has been publicly traded since 1987 on the NASDAQ under DJCO. And he was a great kidder. Transfer Agent | Shareholder Services | Investor Relations | Norfolk Of course, thats a useful thing. He doesnt mind at all not getting credit for his charitable donations. 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. Charlie Munger: 2021 Daily Journal Annual Meeting Transcript. Performance BYD sells at nearly 200 P/E. The SEC requires all publicly traded companies, foreign and domestic, to disclose financial condition, operating results, management compensation, and other areas of their business on a regular basis. But I dont think thats going to end up with a mistake. The second proposal is to ratify the appointment of our certified public accountant: Baker Tilly US, LLP. This Week in Intelligent Investing. There are certain behavioral rules. Im Charlie Munger, Chairman, and to my right is Jerry Salzman, CEO. Its a very dishonorable low-grade way to talk. Daily Journal Corp closed its position in Posco Adr on 5th January 2023. Charlie Munger: Well, I consider that very unlikely. Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. Washington State is actually considering a wealth tax at the state level. Voir plus Voir moins Financial Analyst PaineWebber, Inc - UBS fvr. We got a dividend of two and a half million shortly thereafter. SEC Form 13F Filing History. Of course, that history is useful to know. When it gets difficult, I dont think theres any automatic fix for difficulty. The jurisdiction for this foreign stock company is SOUTH CaliforniaROLINA. So, the shareholders have been lucky to have somebody like Gerry here who could learn what he didnt know and fix it. -, 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. The Corporation will host a fourth quar. Copyright 2023 Surperformance. While historically a legal newspaper publishing company, today DJCO operates a SaaS business model providing case management software to courts and government agencies around the U.S. and the world. Charlie Munger: I think any rich nation ought to have a social safety net that expands a little with its wealth. First Merchants Corporation (FRME) Stock Price, Quote & News - Stock This is a highly desirable thing. VP of Publications & Sec. Im just trying to get a feel for what the long-term capital allocation is. And I think thats what shareholders do. Performance numbers calculated through 2023-02-14. Transcribed image text: Auditor Changes at Daily Journal Corporation Charlie Munger is vice chairman of Berkshire Hathaway Inc. and is informally known as Wa ren Buffetr's "right arm. And we pay huge taxes to a combination of the federal government and the state of California when we sell something. Whalewisdom has at least 38 13F filings, and 33 Form 4 filings. But I do think politics is getting more full of hatred and irrationality than it used to be in America and I dont think thats good. Investor's Business Daily (IBD), which . Thats entirely due to the practical talent of Lee Kuan Yew. Imagine a bunch of Chinese communists turning a whole lot of Chinese and the billionaires in a big hurry. What do you make of these two pricings? Kimberly Stewart - Head of Investor Relations - LinkedIn Its just not gonna work. What do you think we can do to help those who are currently falling behind as a result of this pandemic? Daily Journal Corporation We give you the access and tools to invest like a Wall Street money manager at a Main Street price. They really need the world to stay the way it is. Charlie Munger: Its a huge field in which we have a very interesting toehold with the strongest toeholds in Australia and California. 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. Im not trying to move mountains. -144-01 clinical trial in advanced melanoma during SITC in November 2022 and in a subsequent companion publication in the Journal for ImmunoTherapy of Cancer . On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. And so I dont think its necessarily crazy that good companies sell at way higher multiples than they used to. The Daily Journal shareholders will have to take whatever outcome comes from caring more about our customers than is at all common. The total number of shares, represented by proxies at this meeting, are 995,682, which are more than enough to constitute a quorum making the meeting duly held. When autocomplete results are available use up and down arrows to review and enter to select. The two most similar investment funds to Daily Journal Corp are Platform Technology Partners and Mtm Investment Management. I wouldnt change my life all that well. Gerrys lived a long time too and I think we both have been lucky. Charlie Munger: Well, I have the same difficulty that Samuel Johnson once had when he got a similar question. Subscribe to WhaleWisdom to view all filing data 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. 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. It wasnt some malevolence of the rich that caused it. Sure, we all love the kind of civilization we have. But, of course, I think there will be more automation in transportation of all kinds in the future. So, I dont mind a little inequality and what I notice is that the rich families generally lose their power and wealthand pretty fast. Wheaton Precious Metals Corp. - Investors It also serves as a newspaper representative specializing in public notice advertising. And, we have to function as an informal committee in that we have to bring our employees and our clients together to work out what they already know and how we can help them do a better joba more efficient job.

Bic Lighter Dimensions, Newt Death Scene, Arizona Law On False Reporting, Clash Of The Titans Villains Wiki, Articles D