Request Information I think that inequality is absolutely an inevitable consequence of having the policies that make a nation grow richer and richer and elevate the poor. Charlie Munger: I dont think I have a lot of wonderful advice about starting a business but what youve learned in the pandemic is that we can do with a lot less travel and a lot more Zooming. Were going to bust our ass to try and do a good job. That was a big error in judgment. Accounting is also in the cloud. As a matter of fact, its not clear to me that China would have done better if theyd copied every aspect of English civilization. On Tuesday, March 7, 2023 at 11:00 a.m. Eastern Time, Michael West, President of Moody's Investors Service, and Shivani Kak, Head of Investor Relations, will speak at the Raymond James . So you now know what I do in charitable institutions. I think that to some extent the complaint about the rich getting richer as a result of the COVID panic is a misplaced concern. Corporate Governance Daily Journal Corporation's ISS Governance QualityScore as of February. Its just not gonna work. 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! Charlie Munger: Its a huge field in which we have a very interesting toehold with the strongest toeholds in Australia and California. Thats the reason he rose so fast in life. 2022. Type a symbol or company name. Nothing is particularly obvious for everybody to do the same thing. Thats true whether youre Benjamin Franklin or Joe klutz. Announces Participation in 2023 ROTH Conference and 2023 UBS Global Consumer and Retail Conference. In other words, to some extent, its a self-correcting system. FOR ANNUAL MEETING OF SHAREHOLDERS. Im pretty easy on myself these days. In other words, its your money. Question: Charlie, you have been a long-time admirer of Singapore and Lee Kuan Yew. The majority of the companies in the funds portfolio are large-cap stocks. But its hard for anybody. And, pretty soon, he turned that into this gloriously prosperous place. 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. He had a long and wonderful run. When people gave me a good idea and I could see it was a good idea, I quickly mastered it and started using it for the rest of my life. The kind of executives who have a Buffett-like mindset and never get in trouble are a minority group, not a majority group. What else can you do? I never buy any and neither does Daily Journal. We cant promise what the outcome will be but we are trying pretty hard and we get some favorable impressions of progress. Thought Leader Series. Question: Many believe that inequality accelerated by this pandemic has reached alarming levels that demand drastic solutions such as a wealth tax. And we immediately ascended, we put Gerry in, and hes made every decision wonderfully ever since. Put me down as skeptical. Corporate Actions Services. Click the button below to request a report when hardcopies become available. -, 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. Charlie Munger: Well, he was one of my closest friends for many decades. Charlie Munger: Well, the one charitable institution where I have had some influence for a very long time has a whole bunch of hotshot financiers in every branch of wealth management there is on the board. Ive been engaged in recent years in trying to create a better type of student dormitory. A lot of the good rules of life are like that. We hope theyll continue doing magnificently well. So we were like an undertaker who suddenly got prosperous in a plague year. And thats the way we handled Gerry. Solved Auditor Changes at Daily Journal Corporation Charlie | Chegg.com Everything you see is profit. CFO & Investor Relations Contact: 398.5k: N/A: 1962: Ms. Maryjoe Rodriguez: Pres: N/A: N/A: 1984: Ms. Michelle Stephens: Exec. And I think, by and large, we made the most practical decisions that were available to us. So, I think you can count on the fact that what were doing is going to be a big growing field. Question: In this years annual letter, you mentioned the share price increase was driven by speculative frenzy and forced index buying. Charlie Munger: Full Transcript of the 2021 Daily Journal Meeting - Junto He was old as I am. What could investors do to cope better with periodical frenzy? Question: What books are you currently reading and what can you reccomend? We have our crotchets and I just dont know enough about it to want to go into that activity. Relative to the number of outstanding shares of Bank Of America, Daily Journal Corp owns more than approximately 0.1% of the company. That thing circulates. And, of course, it works way better than our medical system. 2022. Performance Charlie Munger: Ben Franklin was one of the wisest men who ever lived. I dont even know how much more difficultor how much more dangerousit would be to deal with hydrogen than it is to deal with gasoline which is also a dangerous substance. Question: Can you share some parting thoughts with the viewers who are watching all around the world? Give me a new question. Now, it sounds like anybody would know that made sense. I think that that will probably continue. The psychology professors dont know all that much about the rest of knowledge and they have no incentive to master it. How can you not? And he was a great kidder. Timeless Selections The first rule of a happy life is low expectations. Daily Journal Corp is based out of Los Angeles. DAILY JOURNAL CORP Investor Relations Director Salary | Salary.com Copyright 2023 Surperformance. Latticework Podcast And its really stupid to have a culture that encourages as much gambling in stocks by people who have the mindset of race track betters. Daily Journal Corporation - Wikipedia We bought all these buildings cheaply. The IR Magazine Awards - US 2023 will take place on Thursday, March 30 in New York. And when the old CEO of the Daily Journal died, Gerry was managing the business affairs of the Munger Tolles law firm. But, of course, its a very difficult field. Theyre in a place thats gotten more valuable. Daily Journal Corp. - AnnualReports.com And I think the world would be better off without them. Question: Mr. Munger is a champion of Chinese stocks. Question: It is estimated that the Gates Foundation has saved well over 100 million lives. You used examples of Lee Kuan Yews good judgment in choosing someone with brains over certain physical attributes in your past interview. What are the psychological implications of this type of market behavior? But show me a psychology department that knows how to do that. Its really kind of an artificial substitute for gold, and since I never buy any gold, I never buy any Bitcoin. Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities New species are created and old species are dying. Because we have the proxies those directors are now reelected. You have said that the single best way is to deserve a good spouse because a good spouse is by definition not nuts. Of course, its going to be difficult. Do you agree with the premise and if so how would you address inequality? Thats been greatly curtailed. And, he was very good company and a splendid gentleman. 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 the accountants are duly elected. Rose Blumpkin had quite an effect on the Berkshire culture. Of course, that will still work. And, of course, when things get extreme you have things like that short squeeze. This page shows a list of all the recent 13F filings made by Daily Journal Corp. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Larry Summers has recently been quoted as being worried that were having too much stimulus. The meeting will come to order. 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? There are companies that Daily Journal Corp is getting rid of from its portfolio. And his conclusion is that mankind should just step up to it and do it. 50.0% of the portfolio companies So, I think for some folks, early-stage investing is best, and for other folks, what Ive done in my life is best. Published since 1917, the Daily Commerce is based in Los Angeles and covers news of general interest, columns of interest to real estate investors and brokers, and information on distressed properties in Los Angeles County. When these people go, there is none replacing them. DJCO | Daily Journal Corp. Financial Statements - WSJ I expect less out of bankers than he does. Eli Lilly Slashes Price of Insulin | Nasdaq 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. 13F filing from DAILY JOURNAL CORP, enter your Daily Journal Corp publishes newspapers and web sites covering California and Arizona and produces several specialized information services. When completed, an email will be sent to the email address you specify 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. And, we hope to do well in it. Or, is it impossible to realize a deterioration quickly enough to exit without a loss? It wasnt some malevolence of the rich that caused it. Knox Lane was founded in 2019. Charlie Munger: I think Im alive because of a lucky genetic accident. Of course, that made him very leery of dumb loans. Because of that fact, it's of the utmost importance for companies to maintain strong . Question: Last February, you spoke about the wretched excess in the financial system. PROXY STATEMENT. But Henry was a genius. Any tips on how to generate insight in these types of situations? Now 16 years have passed. Charlie Munger: 2021 Daily Journal Annual Meeting Transcript. 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. DAILY JOURNAL CORPORATION - Address, Director information I dont think we have made a lot of horrible mistakes. Chuck Akre | Sanjay Bakshi | Brian Bares | David Barr | Chris Bloomstran | John Burbank | Joel Cohen | Larry Cunningham | Aswath Damodaran | Christopher Davis | Charles de Vaulx | Fernando del Pino | Pat Dorsey | Jean-Marie Eveillard | James Ferguson | Frank Fischer | Tom Gayner | Daniel Gladi | Bruce Greenwald | Robert Hagstrom | Connor Haley | Ahron Herring | Michael Huber | Bryan Lawrence | Hendrik Leber | Paul Lountzis | Peter Mantas | David Marcus | Howard Marks | Michael Mauboussin | Chris Mittleman | David Nierenberg | Phil Ordway | Mohnish Pabrai | Francisco Garca Params | Bob Robotti | Franois Rochon | David Rolfe | Jim Roumell | Chuck Royce | Tom Russo | Dave Sather | Florian Schuhbauer | Adam H. Schwartz | Josh Shores | Guy Spier | Murray Stahl | Sean Stannard-Stockton | Lauren Templeton | Will Thorndike | Elliot Turner | Michael van Biema | Arnold van den Berg | Marcos Veremis | Ed Wachenheim | Amit Wadhwaney | Adrian Warner | Andrew Wilkinson | Jay Willoughby | Josh Wolfe | Don Yacktman | Tim Yates, MOI Global | The Membership Community of Intelligent Investors. Charlie Munger: Well, these things do happen in a market economy. 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. the MV of securities sold, whichever is less, The two most similar investment funds to Daily Journal Corp are Platform Technology Partners and Mtm Investment Management. Thats entirely due to the practical talent of Lee Kuan Yew. How do I update this listing? Stocks with a size of more than $10 billion in market cap make up daily journal corporation investor relations 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 Top 13F Holdings - WhaleWisdom.com Charlie Munger: Yes, I think that is rising as we sit here. Role of Investor Relations - Corporate Finance Institute DAILY JOURNAL CORPORATION : Press releases | DJCO | US2339121046 Charlie Munger: I think Warren and I are better at buying mature industries than we are at backing startups like Sequoia. The Daily Journal Corp office and employees reside in Los Angeles, California. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. View the latest DJCO financial statements, income statements and financial ratios. News Corp Announces Acquisition of Investor's Business Daily How concerned is he about Chinese government interference as seen recently with Ant Financial, Alibaba, and Mr. Jack Ma. At this rate, hell likely (hopefully) reach the longevity of Irving Kahn. As a matter of fact, it will be here for a long, long time if we stop using many hydrocarbons in transportation. A rich civilization can afford to do it if we absolutely have to. Classified advertising is down significantly. for Q4 2022. So, its a very interesting competitive field. I know Berkshire is a long-term owner and rarely sells securities of high-quality companies it owns in its portfolio simply because its overvalued. I have a bust of Lee Kuan Yew in my house. I predict that if they do that, a lot of people will leave Washington. Charlie Munger: Well, I think all stocks can fluctuate. According to the last 13-F report filed with the SEC, Tu To serves as the Chief Financial Officer at Daily Journal Corp. 1996 - janv . No, I dont think I have anything to contribute. LEARN MORE. Touch device users, explore by touch or with swipe gestures. The Superinvestors of Daily Journal Corporation - Forbes If you were offered a fresh start today, what would you do differently in life and in investing? And it has saved Los Angeles a fortune because gas is so much cheaper than gasoline. What, for example, would you recommend as course materials? See our Terms, Privacy Policy, and Disclaimer. I think the world is gonna be quite different. Daily Journal Corp's largest holding is Bank of America Corp. (North Carolina National Bank) with shares held of 2,300,000. Its chairman is Steven Myhill-Jones. Charlie Munger's Daily Journal Corporation Is A Cohiba Cigar Butt One of my smartest friends in venture capital is constantly getting huge clumps of stocks at nosebleed prices. Gerry, you have a comment on that? #CharlieMunger #DailyJournalAnnualMeeting #BerkshireHathawayYahoo Finance is the exclusive live stream platform for the fully virtual Daily Journal ($DJCO) Annual Meeting with Chairman Charlie Munger.The meeting features Daily Journal Chairman and Berkshire Hathaway Vice Chairman Charlie Munger and DJCO President and CEO Jerry Salzman. Its such a simple idea. Charlie Munger: I dont know how permanent its going to be but it certainly caused a change. 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. Look around all this real estate. Charlie Munger: Well, Im constantly making mistakes where I can, in retrospect, realize that I should have decided differently. I cant help you. And all I can say is that well do the best we can. He took over a malarial swamp with no army, no nothing. Question: What have you done to live such a long life? 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? How did Eugene achieve incredibly low loan losses over the long term while so many other bankers have failed miserably? Furthermore, hed gone through the Great Depression. What are his thoughts on modern monetary theory? Gerald Salzman: Charlie refers to the courts, many times. Investors Will Want Seneca Foods' (NASDAQ:SENE.A) Growth In ROCE To Persist 7/31/2022 8:49 AM. I am more willing to hold stocks at high multiples than I would be if interest rates were a lot lower. This will schedule a job to export all requested 13f holdings data for this filer. And there arent many people that can do that. Theres a lot of competition and were a very small company compared to our main competitor. 75% of the total holdings value. 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. Its hard to run a bank intelligently. Currently, Daily Journal Corp's portfolio is worth at least $174 million. Licensed software for many ten-year contracts is currently in the multi-year implementation stage. Our 2023 Annual Meeting of Shareholders will be held on Thursday, May 4, 2023 at 8:30 a.m. Were not enlarging it. Since the annual event first launched in 1996 . I think theyre a bad investment when interest rates are this low. But, I find that the old ways of doing things still work. Charlie Munger: Well, I dont think its required that we be exactly the same on everything. Charlie Munger: Well, I dont participate at all. Daily Commerce Charlie Munger: I think I had the right temperament. He was a one party system but he could always be removed by the electorate. 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. Last year it quintupled. 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. Investors | Seneca Foods In recent years, The Manual of Ideas has expanded to become more than simply the very best investing newsletter on the planet (Mohnish Pabrai). And I applaud the result. BYD sells at nearly 200 P/E. All-Time Favorites Investors play a major and vital role in the success and growth of a company. But theres also a large risk of losing it coming from within an organization. Charlie Munger: 2022 Daily Journal Annual Meeting Transcript - Junto . Question: You identified the opportunity in electrification and invested in BYD. What do you look for in a leader? 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? But everybody cant be better than everybody else. So he married her. Washington State is actually considering a wealth tax at the state level. Members enjoy a steady stream of exclusive wisdom and insights from the leading minds in the field of investment management. I would imagine that applies to the broad market too. You dont need to worry about them. The votes in favor of that are 995,356 against 120. All rights reserved. The fund focuses on investments in the United States as 50.0% of the portfolio companies are based in the United States. There are these periods in capitalism. Just time after time, he would choose the right system. Charlie Munger: Its partly culture but a lot of it is just born in and its a quirk. Florida would have a really serious problem. But theres no rule that life has to be easy on the mental side. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. 2023 Annual Meeting. Gerald Salzman: Well, we dont think about mistakes. If I had stayed in Omaha, where I was raised, and gotten into the banking business, I would have been a hell of a good banker. $174 million and $174 million respectively. I think the Chinese have behaved very shrewdly in managing their economy and theyve gotten better results than we have in managing our economy. Question: Of the various types of moats and competitive advantages, which types do you think will be most important in the years ahead, and what combinations of competitive advantages can you imagine will create any new types of moats? And I dont know whether hes right or not. One thing I can promise is that I wont contribute much to it because I dont understand it. Non-members may peek into the world of MOI Global via limited access. And, of course, its all worked. And thats what we have going in the stock market in a frenzy thats fed by people who are getting commissions and other revenues out of this new bunch of gamblers. Has the quality gone down? and a top 10 holdings concentration of 100.0%. And, I was always aware of that and so Ive accepted these damned annual meetings. Charlie Munger: Well, I dont know how well the economys doing to work in the future. Charlie Munger: Well, you know, I had a failed marriage, so I dont think Im in the perfect position to advise the young about marriage. He was a very smart man and he had a lot of good ideas. I kind of admire the way Bill takes on these very hard problems. 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? First Merchants Corporation to Report Fourth Quarter 2022 Financial Results, Host Conference Call and Webcast. Im not going to change. Question: Youve said several times that the best way to learn about business is to study the multi-decade financial results of great companies. Theyd take you through the building of the canals and the building of the railroads and so on and so on. It's always a wonderful pleasure to hear Charlie Munger speak at the Daily Journal Annual Meeting. I think were into a lot less travel and a lot more Zooming. Charlie Munger: No, I would say that of course, theres some new material in misjudgment. Daily Journal Corporation Announces Financial Results for the Six Months ended March 31.. Daily Journal : Announces New Chairman and CEO - Form 8-K. Daily Journal Corp : Change in Directors or Principal Officers, Financial Statements and E.. Daily Journal Corporation Announces New Chairman and CEO, Daily Journal : Fiscal Q1 Earnings Snapshot. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. Code of Business Conduct and Ethics; Whistle Blower Policy; Shareholder Rights Agreement Annual Meeting of Stockholders Date: June 13, 2022 Time: 10:00 a.m. EDT Location: Hilton McLean Tysons Corner 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. Who gets rich faster by class is going to vary over time and I dont think anybody should be too concerned by it. The Manual of Ideas The third-largest holding is Alibaba Ltd worth $26.4 million and the next is Us Bancorp worth $6.11 million, with 140,000 shares owned. The company's other titles include Daily Commerce, The Daily Recorder and the Inter-City Express . Jen Saunders Chinese stocks are often sensitive to geopolitical events, and news that Biden and Xi will meet later this year could signal a thaw in relations between China and the U.S. Daily Journal Corporation Reports Quarterly Revenue $11.68 Mln Daily Journal Corporation says For Nine Months Ended June 30 Consolidated Revenues Of $35.7 mln Versus $30.6 . Charlie Munger: I dont think you can make that a moral responsibility. The decision was. He loved to kid people. Thats a really good rule. And, I was not surprised when it blew up. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. And were gonna play that as hard as we can. It closed the year with cash flow reaching $7.1 billion . 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 Happened To Jason Bose Smith,
Mars In Pisces For Virgo Ascendant,
91 Express Lanes Vs The Toll Roads,
Druski Hat With Clouds,
Local 66 Operators Union Apprenticeship Application,
Articles D