There are these periods in capitalism. Information Agent. All those factors come into play and if you go back a little further, we eliminated California Lawyer magazine and we had one time a newspaper in Seattle and one in Denver. DAILY JOURNAL CORP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RES.. Daily Journal Corporation Announces Financial Results for the Nine Months ended June 30.. Daily Journal : Fiscal Q2 Earnings Snapshot. Costco I do think has one thing that Amazon does not. 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. You saw the ebb and flow of industry and the creative destruction of the economic changes and so on. Licensed software for many ten-year contracts is currently in the multi-year implementation stage. We use cookies to ensure that we give you the best experience on our website. And, he was very good company and a splendid gentleman. Is there any new material? Type a symbol or company name. When I look at the modern Singapore health system, it costs 20% of what the American system costs. Currently, Daily Journal Corp's portfolio is worth at least $174 million. 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. Charlie Munger: I dont think you can make that a moral responsibility. The only opinion I have there is that I dont think anybody knows whats going to happen for sure. 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. 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. Charlie Munger: I have seen an episode or two of the Queens Gambit. This years annual report suggests that the traditional business has 97 full-time employees. I think management should tell it like it is at all times and not be a big promoter of its own stock. I own some apartment houses, so I like that investment, provided youve got a perfect management which is hard to get. And what he does is he sells about half of them always. She created a business with like 500 depression dollars that became a huge business. Charlie Munger: I think I had the right temperament. The wealth management industry has a crisis on its hands. I dont think Ive got any great insight about hydrogen. Advisory, processing and support for complex transactions, including M&As, IPOs and stock splits. 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. And he made a very favorable impression. 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. And do you and Warren have any tricks or shortcuts to size people up quickly and accurately? DAILY JOURNAL CORPORATION. Tom Murphy used to say that his system of management was to delegate just short of total abdication. Question: With all the work from home with Zoom and other technology, what do you think the future of commercial real estate looks like? 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. And I just think it was academically inconvenient for them. We would all say that. Daily Journal Corp's largest holding is Bank of America Corp. (North Carolina National Bank) with shares held of 2,300,000. Daily Journal Corp's portfolio is diversified across 3 sectors. DAILY JOURNAL CORP Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-K) AQ. I kind of admire the way Bill takes on these very hard problems. Bill Gates has written a book on this subject recently in which he concludes that it would be expensive but it could be handled. 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. Youve even said business schools that dont adopt this method are doing their students a disservice. 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. And thats the way we handled Gerry. As of 29th December 2022, Daily Journal Corps top holding is 2,300,000 shares of Bank Of America currently worth over $76.2 million and making up 43.7% of the portfolio value. Currently, their heaviest sector is Finance making up 81.3% of And he said; I cant decide the order of presidency between a flee and a louse. His method for doing it was so simple. Charlie Munger: Well, I cant top Lee Kuan Yews example. I think you should try and make your money in this world by selling other people things that are good for them. Question: Many believe that inequality accelerated by this pandemic has reached alarming levels that demand drastic solutions such as a wealth tax. The IR Magazine Awards - US 2023 will take place on Thursday, March 30 in New York. Were all pretty forgiving of ourselves too which is probably a good thing. SEC form, multiple filers or classes of filers, and much more.***. Of course, that history is useful to know. DAILY JOURNAL CORPORATION - Print Media - 915 E 1st St, Los - Yelp And that is why Costco presents some danger to Amazon. Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. We are in fact being a more difficult type of software business than Microsoft. Charlie Munger: Well, it helps to be able to leave the IQ test early with the highest score. Seneca Foods Reports Sales and Earnings for the Three Months Ended July 2, 2022 8/11/2022 4:10 PM. Election | | daily-journal.com 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. Daily Journal: Transformation Yet to Be Fully Understood 306.00. 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. The psychology professors dont know all that much about the rest of knowledge and they have no incentive to master it. Charlie Munger: Well, Im constantly making mistakes where I can, in retrospect, realize that I should have decided differently. CI. And I dont think that we or the Daily Journal is getting ahead because weve got some wonderful macroeconomic insight. On December 18, 2020the record datethere were 1,380,746 shares of common stock of the company outstanding. It was an accident. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Best Ideas Conference Charlie Munger: Full Transcript of Daily Journal Annual Meeting 2021 Commission-free trading is not free. Daily Journal Corp's largest holding is Bank of America Corp. (North Carolina National Bank) with shares held of 2,300,000. USD. It says that man is too soon old and too late smart. They had to because the traditional business newspaper business is shrinking. Question: Why, almost two years ago, did you believe that Costco was the only U.S. stock worth buying? And they dont do that very wellIm talking about the business schools. He said, figure out what works and do it. Because even as a boy, I knew a lot about who was sound who wasnt sound in Ohama. The meeting will come to order. But, of course, I think there will be more automation in transportation of all kinds in the future. What I see in China now just staggers me. 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. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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? Question: The highly configurable JTI product may help e-suites integrate deeply into new jurisdictions as agencies and citizens become familiar with the courthouse software. I cant help you. The stock has gained so much this year and last year. 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. Investor Overview | Graham Holdings Company 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. DJCO - Daily Journal Corp Valuation - NASDAQ | Morningstar But I do think having a whole system to sell hydrogen is difficult. Gerry has done magnificently well. Question: Mr. Munger is a champion of Chinese stocks. He really knew everything you had to do to avoid credit losses in a small town in Illinois. It was a background that helped everybody. How do you decide to hold on to a stock or sell some? In fact, what a lot of shareholders actually do is crowd in buying stocks on frenzyfrequently on creditbecause they see that theyre going up. Whoever dreamed when I was young that Kodak and General Motors would go bankrupt. Charlie Munger: Well, I hope we dont have fewer truck stocks because Berkshire Hathaway is deeply involved in truck stops. Bitcoin at 50,000 or Teslas fully diluted enterprise value of 1 trillion. Delayed Nasdaq Question: Mr. Munger recently raised the alarm about the level of money printing taking place. Practically everybody does that. There are currently 4 companies in Mrs. Tos portfolio. One of the great advantages of the way Berkshire operates is that we associate with a lot of marvelous people. And even if you have a natural gift, you cant be good at it unless you start playing at a very young age and get huge experience. 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. Investors play a major and vital role in the success and growth of a company. 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. The majority of the companies in the funds portfolio are large-cap stocks. And I think that were crazy to allow it. The Corporation will host a fourth quar. Delayed Nasdaq Rick was part of the group which consisted of Warren Buffett, Rick Guerin, and Charlie Munger that bought control of Blue Chip Stamps when it was widely distributed in an anti-trust settlement. Question: What books are you currently reading and what can you reccomend? In 1978, the year Deng Xiaoping took over, it was 300. Im just learning as I go along. 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. I recommend that other people follow my example. The content provided on the Junto Investments (Junto) website is for informational purposes only, and investors should not construe any such information or other content as legal, tax, investment, financial, or other advice. It seems to involve a lot of your standard causes of human misjudgment. I would be curious to know how you started your interest in Singapore and Lee Kuan Yew. What is Investor Relations? Issuer Direct Of course, we accomplished quite a bit working together. Thats true whether youre Benjamin Franklin or Joe klutz. John Lambert, First class in every way. Thats a really good rule. Implementation is expensed as provided, while the long-term recurring high-margin revenue is not yet included on the income statement. Also, when you get reverses, if you just suck it in cope, that helps if you dont just fretfully stew yourself into a lot of misery. Of course, it really helped to know everybody in town. BYD sells at nearly 200 P/E. 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. Do you agree with the premise and if so how would you address inequality? And I think wise people should just stay out of them. But you know, most people dont do that. The Daily Journal shareholders will have to take whatever outcome comes from caring more about our customers than is at all common. A lot of the people who are doing this remote worka lot are going to work three days a week in the office and two days a week at home. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. BILLERICA, Mass., (BUSINESS WIRE) -- Bruker Corporation (Nasdaq: BRKR) announced today that Gerald Herman, Executive Vice President & CFO will present on. The largest investments include Bank Of America and Wells Fargo & Co, together worth $142 million. Its just that some people look for values in strong companies and some look for values in weak companies. Daily Journal Corporation Reports Earnings Results for the Full Year Ended September 30, 2022. 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. 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. And, of course, thats a very dangerous way to invest. Daily Journal Corporation - Wikipedia What do you think we can do to help those who are currently falling behind as a result of this pandemic? Chairmans Letter Computershare Investor Services 8742 Lucent Boulevard, Suite 225 Highlands Ranch, CO 80129 . Charlie Munger: Well, its most egregious in the momentum trading by novice investors lured in by new types of brokerage operations like Robinhood. Question: Can you share some parting thoughts with the viewers who are watching all around the world? Tilly's, Inc. Charlie Munger: Well, I certainly hope that they succeed mightily in their software endeavor to automate all these courts for the modern world. VP of Publications & Sec. Can you provide similar insight regarding the future at the Daily Journal and would you consider implementing policies like those at Berkshire so shareholders can get to know the up-and-coming leaders in the organization? Investor's Business Daily (IBD), which . Copyright by BeyondProxy. Quotemediais not affiliated with or approved by the U.S. Securities and Exchange Commission. Also, fortunately before the pandemic, we got out of the conference-type events and we were not subjected to the problems of no conferences nobody to attend. 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. And I think thats what shareholders do. Charlie Munger: Well, of course, the places downsized. Communicated daily with internal traders and sales force, plus marketed globally to Buy-Side clients . This will schedule a job to export all requested 13f holdings data for this filer. Latticework Podcast Charlie Munger speaks at the Daily Journal Annual Meeting Charlie Munger: Theres one thing that were quite passionate about and that is serving the customers who have trusted us. How do I update this listing? I feel the same way about those choices. The average market cap of the portfolio companies is close to $220 billion. But he was 90 years of age. But theres also a large risk of losing it coming from within an organization. Role of Investor Relations - Corporate Finance Institute
