Practically everybody does that. Daily Journal Corp closed its position in Posco Adr on 5th January 2023. Its such a simple idea. Governance. 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 are now a thriving global community of intelligent investors, connected through great ideas, thought-provoking interviews, online conferences, live member events, and much more. Theyre no longer using peasant girls to beat the brains out of our little shoe companies in America. I expect less out of bankers than he does. Currently, Daily Journal Corp's portfolio is worth at least $174 million. Im not saying that oil and gas is going to be a wonderful business but I dont think its going away. Member Calendar, MOI Global is a wonderful way to expose yourself to the thoughts of some of the most successful investors and investment methods out there. And he said; I cant decide the order of presidency between a flee and a louse. Throughout the transcript below, I have included clickable links to my notes and articles . Charlie Munger: Well, I dont think its required that we be exactly the same on everything. He lived in a particular town. Many, but not all SEC filings are available in the SEC's EDGAR database. Subscribe Columns Labor/Employment Viking River PAGA ruling has no clear destination for employers Mar. That makes the whole thing very awkward. I think theyd run rings around me. 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. and leadership at Berkshire Hathaway, Munger was . You have said that the single best way is to deserve a good spouse because a good spouse is by definition not nuts. And, of course, thats a very dangerous way to invest. Are they more stable? How did Eugene achieve incredibly low loan losses over the long term while so many other bankers have failed miserably? 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. Charlie Munger: Well, heres what I meant. It was an accident. Chairmans Letter Sure, we all love the kind of civilization we have. How would you advise these institutions to manage their endowments over the coming decades? Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. 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. Charlie Munger at the 2021 Daily Journal annual meeting spoke once again at great length. The two most similar investment funds to Daily Journal Corp are Platform Technology Partners and Mtm Investment Management. What do you think of all of the SPACs and the promoters pushing them? 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. Thats interestingwho in the hell is voting against the accountants? Question: Youve spent much of your life contributing your wisdom to schools and hospitals. John Lambert, First class in every way. Implementation is expensed as provided, while the long-term recurring high-margin revenue is not yet included on the income statement. . DATAROMA Superinvestors Portfolio Holdings Charlie Munger - Daily Journal Corp. Period: Q4 2022 Portfolio date: 31 Dec 2022 No. Gerry has done magnificently well. The psychology professors dont know all that much about the rest of knowledge and they have no incentive to master it. 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. That is true and makes sense. Question: What books are you currently reading and what can you reccomend? Can U.S. Treasury bonds be such a case today? I think the Chinese have behaved very shrewdly in managing their economy and theyve gotten better results than we have in managing our economy. 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. Charlie Munger: I dont know how permanent its going to be but it certainly caused a change. Quotemediais not affiliated with or approved by the U.S. Securities and Exchange Commission. Nobody should believe that Robinhoods trades are free. Tilly's, Inc. What, for example, would you recommend as course materials? Many, but not all SEC filings are available in the SECs EDGAR database. I think the Chinese were very smart. Has the quality of the publication suffered as the employment levels have decreased? Are traditional dividends and share repurchases the likely end-stateassuming our software business grows into a bonafide companyor will buying and holding securities from time to time be what the board is comfortable with? And so, the stock went way up. Announces Participation in 2023 ROTH Conference and 2023 UBS Global Consumer and Retail Conference. Daily Journal - Overview, News & Competitors | ZoomInfo.com Daily Journal Corp is based out of Los Angeles. Everyone knows this isnt a small cap Berkshire Hathaway. Intellectual Property 2/24/23. Charlie Munger: Im sure some are, but, by and large, thats not what Warren is known for. And, I think that could happen, but, of course, thats not a sure thing. I kind of admire the way Bill takes on these very hard problems. I expect that and I welcome it. containing a link to download the .zip file of the CSV file(s) you requested. BYD sells at nearly 200 P/E. And, for example, here, we must have 30 or 40 deaths. Of course, people behave more sensibly when theyre spending their own money. Munger became Chairman (because he was an attorney). Because we have the proxies those directors are now reelected. And do you and Warren have any tricks or shortcuts to size people up quickly and accurately? In other words, its your money. Investment Ideas Delayed Nasdaq 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? So, you can understand why Warren got disenchanted with Wells Fargo. New species are created and old species are dying. Capitalism is almost as brutal as that. 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 . I call it deworsificationwhich I copied from somebody. Subscribe to WhaleWisdom to view all filing data Thought Leader Series. Daily Journal Corporation was incorporated in 1987 and is based in Los Angeles, California. Ideaweek St. Moritz Charlie Munger: Well, I think all stocks can fluctuate. We would all say that. 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. But, a very wise man said on an earlier occasion: The trouble with banking is that we have more banks than we have bankers. So, its a serious problem. On Constellations trajectory as an HPC, the economics of a VMS, returns on capital, challenges in organic growth, the runway for M&A, the companys incentive system, and prospects for the use of FCF. Thats one you can easily arrange. People really trust Costco will be delivering enormous value. 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. Do you think this is a worthwhile policy objective given the effect it has on creating financial excesses and income inequality? We were trying to save the whole economy under terrible conditions. I dont follow that practice but I dont criticize it either. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September .. Daily Journal : Fiscal Q3 Earnings Snapshot. Wheaton is the world's premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. I think all good investing is value investing. When you get into these hard questions, theres a lot of very intelligent honorable people who reach opposite conclusions. We use cookies to ensure that we give you the best experience on our website. And its a shame that the economics textbooks dont emphasize how much a growing economy needs poverty in order to get out of poverty. We have our crotchets and I just dont know enough about it to want to go into that activity. Imagine a bunch of Chinese communists turning a whole lot of Chinese and the billionaires in a big hurry. I recommend that other people follow my example. What do you think the long-term consequences will be? In fact, what a lot of shareholders actually do is crowd in buying stocks on frenzyfrequently on creditbecause they see that theyre going up. [The questioner] would like to know what Charlies method of learning is. 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. Seneca Foods Reports Sales and Earnings for the Three Months Ended July 2, 2022 8/11/2022 4:10 PM. And if its unfixable, learn to live without it. 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. Absolute insanity. 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. regarding their board of directors using the Board Diversity Matrix. If its not good enough for Berkshire, shouldnt we have the same standards? He gasped and said, but hes never had anything to do with newspapers or anything else. Charlie Munger: I think Warren and I are better at buying mature industries than we are at backing startups like Sequoia. Gerry, can you ever remember Rick down? The original newspaper, The Daily Court Journal (Los Angeles), began publication in 1888. But I dont think everybody can be a great investor or a great chess player. 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. Knox Lane was founded in 2019. At times in my life, I have put myself to a standard that I think has helped me: I think Im not really equipped to comment on this subject until I can state the arguments against my conclusion better than the people on the other side. The jurisdiction for this foreign stock company is SOUTH CaliforniaROLINA. We all live with that problem. Costco I do think has one thing that Amazon does not. Whoever dreamed when I was young that Kodak and General Motors would go bankrupt. The only opinion I have there is that I dont think anybody knows whats going to happen for sure. God knows it was difficult but I dont think its a mistake. But you know, most people dont do that. Create your Watchlist to save your favorite quotes on Nasdaq.com. Daily Journal Corp's largest holding is Bank of America Corp. (North Carolina National Bank) with shares held of 2,300,000. +2.68%. Rose Blumpkin had quite an effect on the Berkshire culture. You can hardly think of anything more important in life than being reliable for the people who trust you. He was always upbeat. But show me a psychology department that knows how to do that. But, of course, its a very difficult field. N/A: N/A: N/A: . The Daily Journal shareholders will have to take whatever outcome comes from caring more about our customers than is at all common. And, of course, he hated costs. Do you agree with the premise and if so how would you address inequality? How would they think about current opportunities with low rates and low inflation? 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. They do way more good than harm. And interested and up to speed and didnt have to take a lot of time to get background information to make his comments. Ideaweek Podcast 2022. Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders. When it gets difficult, I dont think theres any automatic fix for difficulty. And we pay huge taxes to a combination of the federal government and the state of California when we sell something. 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. And I think that were crazy to allow it. There are factories in China that are just absolutely full of robots and are working beautifully. Accounting is also in the cloud. And theyre all dyingevery damn one of them almost. The wealth management industry has a crisis on its hands. I tell a story on Rick that he took the Navys IQ test and got one of the highest scores ever recorded and left early. But I wont be following him. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. The board includes high-profile names such as Rick Guerin, Peter Kaufman, and Charlie Munger. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. Bitcoin at 50,000 or Teslas fully diluted enterprise value of 1 trillion. A single vial can cost upwards of $300, meaning a monthly cost of $1,000. We do know one thing and that is that the courts of the whole world are going to be taken into the modern age. In other words, to some extent, its a self-correcting system. On the other hand, we have a fair amount of time to do it. And when the old CEO of the Daily Journal died, Gerry was managing the business affairs of the Munger Tolles law firm. And yet he made a lot of mistakes in the course of living his life. Thats very, very important. Performance numbers calculated through 2023-02-14. Charlie Munger: Well, the people doing the computer software are doing magnificently wellthe people under Gerry: Maryjo and Danny. Charlie Munger: You have to be optimistic about the competency of our technical civilization. So, I dont mind a little inequality and what I notice is that the rich families generally lose their power and wealthand pretty fast. DAILY JOURNAL CORP Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-K) AQ. They have created a strong culture of fanaticism about cost, quality, efficiency, and honor. Thats been greatly curtailed. But he could play chess blindfolded at just below the Grandmaster level. He knew everybody and everything. Given the developments over the past year, could you give us an update on your assessment of wretched excess in the system? Question: Do you believe global warming is an existential threat to humankind? Put me down as skeptical. Any tips on how to generate insight in these types of situations? Question: Is the oil and gas industry the new newspapers? We give you the access and tools to invest like a Wall Street money manager at a Main Street price.

Beko Oven Symbols Rubbed Off, Cheap Flats To Rent In Basingstoke, Rottweiler Puppies For Sale In Bloomington, Il, Police Incident Monmouth Today, Pruvit Return Address, Articles D