Culture is very important. I think I would have lived a long time if I had lived a different life. Are Berkshires managers aware that through their efforts to create business success at Berkshire that they have been involved in saving millions of lives? Charlie Munger: I think Im alive because of a lucky genetic accident. Part of the reason for that was cultural. If its not good enough for Berkshire, shouldnt we have the same standards? They just copied Adam Smith and left out the free speech and it worked fine for them. 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. In other words, when we shout our knowledge out, were really pounding it out. Charlie Munger: Ben Franklin was one of the wisest men who ever lived. Question: It seems like everyoneincluding actors, athletes, singers, and politiciansis getting into the business of promoting their own SPAC. Daily Journal Corp. (S.C.) Common Stock (DJCO) - Nasdaq Buffetts donations to the foundation have obviously helped to save many millions. The best venture capital operation probably in the whole world is Sequoias and they are very good at this early stage investing. Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. Thats an interesting example of self-learning. Question: What have you done to live such a long life? The Superinvestors of Daily Journal Corporation - Forbes Wheaton delivers amongst the highest cash operating . First Merchants Corporation (FRME) Stock Price, Quote & News - Stock I think most people who are assuming tolerable success in life are about as happy as they were ordained to be. With no analysts or investor relations department, few understand the transformation that has occurred. He was just a very old-fashioned sound thinker. I didnt get to where I am by going after mediocre opportunities. When completed, an email will be sent to the email address you specify Ive been pretty quiet. We got a dividend of two and a half million shortly thereafter. So I dont worry that the country is being ruined by a few people over getting ahead a little faster than the rest of us. Have you seen the television show Queens Gambit on Netflix? But he was 90 years of age. Quotemediais not affiliated with or approved by the U.S. Securities and Exchange Commission. Youve reached the limit of my circle of competence. Daily Journal Corporation (DJCO) company profile & facts - Yahoo! A lot of things are going to change. When it gets difficult, I dont think theres any automatic fix for difficulty. Question: If you had a chance to make an addition or revision to Poor Charlies Almanac, what would that be? the MV of securities sold, whichever is less, The agent name of this company is: GERALD L SALZMAN ,and company's status is listed as ACTIVE. DAILY JOURNAL CORPORATION : Shareholders Board Members Managers and So its very difficult. And theyre all dyingevery damn one of them almost. Question: Which do you think is crazier? Asian Investing Summit So, its a very interesting competitive field. Subscribe to WhaleWisdom to view all filing data He had excellent judgment. Matthew Peterson is the Managing Partner of Peterson Capital Management, LLC. Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities and a top 10 holdings concentration of 100.0%. I recognized early that Gerry could run anything he wanted to run. Of course, if he had a chance to do it over again, he would avoid those mistakes. Charlie Munger: Well, thats a very good question. These symbols will be available throughout the site during your session. How did Eugene achieve incredibly low loan losses over the long term while so many other bankers have failed miserably? What do you make of these two pricings? One of my smartest friends in venture capital is constantly getting huge clumps of stocks at nosebleed prices. When autocomplete results are available use up and down arrows to review and enter to select. for Q4 2022. Theres hardly anything he touched he didnt improve. Ill paraphrase here. Charlie Munger: Yes, I think it must end badly but I dont know when. The fund focuses on investments in the United States as 50.0% of the portfolio companies are based in the United States. Contact the transfer agent for answers concerning the subjects below: Dividend reinvestment plan Lost or stolen certificates Stock transfer requirements American Stock Transfer & Trust Company, LLC 1-877-864-4750 Email: info@astfinancial.com Web site: www.astfinancial.com In fact, what a lot of shareholders actually do is crowd in buying stocks on frenzyfrequently on creditbecause they see that theyre going up. I dont know which is worse. -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 . And, I think that could happen, but, of course, thats not a sure thing. Charlie Munger: Im a great admirer of Jeff Bezos whom I consider one of the smartest businessmen who ever lived. Charlie Munger: We will not be following Tesla into bitcoin. Currently, their heaviest sector is Finance making up 81.3% of the total portfolio value. Thats interestingwho in the hell is voting against the accountants? Value investors know Warren Buffett's classic retort to efficient market theory, "The . There are currently 4 companies in Mrs. Tos portfolio. That happened because Gerry and I bought these little newspapers all over the state just as a precaution to make sure we could serve public notice advertising wherever it arose in the state. Who is MOI Global? And its rather interesting. 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. Subscribe Columns Labor/Employment Viking River PAGA ruling has no clear destination for employers Mar. As we can see from the deteriorating U.S. relationship with China, the Western world does not understand China. Daily Journal Corp's portfolio is diversified across 3 sectors. Some people have a natural trend toward good judgment, and with other people, their life is just a series of mistakes over and over again. That is true and makes sense. This years annual report suggests that the traditional business has 97 full-time employees. Charlie Munger: Thats too hard in general a question for me. 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. Latticework London But we cant. Were beholden to the guidelines of the county of Los Angeles and other counties. DJCO Stock Price & Charts | Daily Journal Charlie Munger: Full Transcript of Daily Journal Annual Meeting 2021 1, 2023 By Tal Burnovski Yeyni A California court of appeal held it was not bound by SCOTUS' ruling. Create your Watchlist to save your favorite quotes on Nasdaq.com. And I dont think youll find me engaged in the massive rezonings in the future. Daily Journal Corporation Company Profile | Los Angeles, CA Daily Journal Corp is an investment fund managing more than $174 million ran by Tu To. In 2010, that was down to 165 full-time employees and 15 part-time employees. And he was a great kidder. All the good things. It also serves as a newspaper representative specializing in public notice advertising. And if you stop to think about it, that is also true at the Daily Journal. Sign-up And what he does is he sells about half of them always. I feel the same way about those choices. On the other hand, it could be handled. Generally speaking, people assume that were a normal software company like Microsoft or something. I dont think well change on that. And, pretty soon, he turned that into this gloriously prosperous place. Of course, his son, who is a bright man, is now Prime Minister of Singapore. Daily Journal | DJCO Stock Price, Company Overview & News - Forbes I think that that will probably continue. DAILY JOURNAL CORP Investor Relations Manager - Salary.com 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. 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. 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 dont think Ive got any great insight about hydrogen. Los Angeles, California 90012 . What do you think we can do to help those who are currently falling behind as a result of this pandemic? You can imagine its in a wonderful position and that excited the people in China which has its share of crazy speculators. That doesnt happen. Daily Commerce. The largest are the Los Angeles Daily Journal and San Francisco Daily Journal, established in 1888 and 1893, respectively, with 6,300 subscribers between them as of September 30, 2020. You dont need to worry about them. In other words, to some extent, its a self-correcting system. But, I find that the old ways of doing things still work. As a matter of fact, its not clear to me that China would have done better if theyd copied every aspect of English civilization. He was very amiable the way he talked about it. Charlie Munger: Well, I have the same difficulty that Samuel Johnson once had when he got a similar question. Question: What books are you currently reading and what can you reccomend? What do you think of all of the SPACs and the promoters pushing them? Gerry, dont you think were doing pretty well? We have our crotchets and I just dont know enough about it to want to go into that activity. Best Ideas Omaha You are going to be flabbergasted. Its just not gonna work. That was a big error in judgment. Daily Journal Corp. - AnnualReports.com How do you think about the hydrogen opportunity for transportation and how does it compare to the electric opportunity, specifically thinking about trucks versus cars. Click the button below to request a report when hardcopies become available. Can U.S. Treasury bonds be such a case today? Announces Participation in 2023 ROTH Conference and 2023 UBS Global Consumer and Retail Conference. Charlie Munger: I dont know how permanent its going to be but it certainly caused a change. There are companies that Daily Journal Corp is getting rid of from its portfolio. But he knew how to learn what he didnt know. If you were offered a fresh start today, what would you do differently in life and in investing? email address below and choose 'Submit'. 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. And, we hope to do well in it. 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 I dont think that hydrocarbons are going. 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? I think that to some extent the complaint about the rich getting richer as a result of the COVID panic is a misplaced concern. Latest SEC filings for Daily Journal Corporation (DJCO) Thats true whether youre Benjamin Franklin or Joe klutz. We made the rich richer, not as a deliberate choice, but because it was an accidental byproduct of trying to save the whole civilization. or to simply have an email sent to you whenever we receive a new Everybodys got a different situation. I think most people are born with a happystat. Question: What is the biggest lie currently being perpetuated by the investment complex? But its hard for anybody. Knox Lane was founded in 2019. 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. Thats entirely due to the practical talent of Lee Kuan Yew. Member-Only Podcasts 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. That thing circulates. Charlie Munger: Gerry, whats the biggest mistake weve made? 1/9/23. Put me down as skeptical. Charlie Munger: I think Ive learned to avoid zoning work. And I was like Rip Van Winkle; when I tried to come back to it, I found that the world had changed. Always on point. Question: In your past speeches, you have mentioned the term functional equivalent of embezzlement to describe situations where bubbles can form because both parties involved in a bubble believe the asset to be worth more than it truly is. And I think that were crazy to allow it. I said to Rick, were going to make Gerry the head of the Daily Journal. Were all pretty forgiving of ourselves too which is probably a good thing. Local Chapters If you dont have master the rest of the knowledge you cant synthesize it with psychology. Have you considered amending this quote or lowering your standards? Contact. Thats what weve been doing throughout my whole lifetime. And if its unfixable, learn to live without it. 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). In 1978, the year Deng Xiaoping took over, it was 300. And the next time around the poor will get richer faster than the rich. Ratios & Margins Daily Journal Corp. All values updated annually at fiscal year end Valuation P/E Ratio (TTM) - P/E Ratio (including extraordinary items) - Price to Sales Ratio 6.55 Price to Book. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. What I think is interesting about chess is, to some extent, you cant learn it unless you have a certain natural gift. Matthew Peterson of Peterson Capital Management presented his in-depth investment thesis on The Daily Journal Corporation (US: DJCO) at Best Ideas 2019. 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. One of the great advantages of the way Berkshire operates is that we associate with a lot of marvelous people. Under Nasdaq's Board Diversity Proposal, operating companies listed on Nasdaq's U.S. exchange, including Daily Journal Corporation (DJCO), are required to publicly disclose diversity statistics . I dont follow that practice but I dont criticize it either. Daily Journal Corp - Filing History - Charlie Munger - Fintel And so I dont think its necessarily crazy that good companies sell at way higher multiples than they used to. I dont think we have any great gift at making macroeconomic predictions. That turned out to be a wonderful idea and thats one of the reasons we made all this money. The stock has gained so much this year and last year. [The questioner] would like to know what Charlies method of learning is. And he made a very favorable impression. Good Earnings for Salesforce Might Give Activist Investors a Chill Pill All-Time Favorites And it has saved Los Angeles a fortune because gas is so much cheaper than gasoline. This Week in Intelligent Investing. Question: BYD is in the Daily Journal stock portfolio with a very big paper gain. What would be a mistake at the Daily Journal which we can all learn from? I think they would have come out worse because their position was so dire and the poverty was so extreme, they needed very extreme methods to get out of the fix they were in. Just time after time he would do something like that. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Im not trying to move mountains. Daily Journal Corp - Portfolio Holdings, AUM (13F, 13G At KB Home, social responsibility means investing in the relationships we have with our employees and within our communities. SEC form, multiple filers or classes of filers, and much more.***. The Zurich Project 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 .
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