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Knowledge and know-how can act as an almost indestructible moat for a companys competitive position and growth prospects. Daily Journal Corporation has 1 stars. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. 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. Charlie Munger: Thats too hard in general a question for me. Question: Youve spent much of your life contributing your wisdom to schools and hospitals. The disruption from the decline in newspapers has had a significant impact. And I think the world would be better off without them. How would you advise these institutions to manage their endowments over the coming decades? the total portfolio value. Similar Job Titles: Has there been anything that has surprised you, and what would be your best advice to someone starting a business now? 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. Now, it sounds like anybody would know that made sense. I dont think we have any great gift at making macroeconomic predictions. Charlie Munger: No, I would say that of course, theres some new material in misjudgment. Daily Journal Corporation ( NASDAQ: DJCO) is a business and legal news and advertising editorial in California. Charlie Munger: Well, I cant top Lee Kuan Yews example. Daily Journal Corp. - AnnualReports.com Most Recent Annual Report MOST RECENT 2019 Form 10K View Form 10K (HTML) Daily Journal Corp. does not currently have any hardcopy reports on AnnualReports.com. I think any intelligent person can get to be pretty good as an investor and avoid certain obvious traps. They really need the world to stay the way it is. If you dont spend the money, you and your heirs get to spend it eventually. To the extent that my thoughts have helped my life, I think Ive pretty well run the course. SEC Form 13F Filing History. They are joining the modern world very rapidly and theyre getting very skillful at operating. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. 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%. If a civilization can progress only when it invents the method of invention, you can only progress when you learn the method of learning. But he previously worked for Rick Guerin and me in running a little mutual fund that we bought control of. Question: It is estimated that the Gates Foundation has saved well over 100 million lives. Daily Journal - Overview, News & Competitors | ZoomInfo.com Daily Journal Corp is based out of Los Angeles. Considering their system, that is not what he should have been doing. Generally, what people do is they have financial reserves so they have some options if trouble comes, and they adapt the way Gerry has to require downsizings or require upsizings. The kind of executives who have a Buffett-like mindset and never get in trouble are a minority group, not a majority group. I think that shareholders should be more sensible and not crowd into stocks and buy them just because theyre going up and they like to gamble. Imagine a bunch of Chinese communists turning a whole lot of Chinese and the billionaires in a big hurry. Chinas economic record among the big nations is the best that ever existed in the history of the world. Has the quality gone down? or to simply have an email sent to you whenever we receive a new He was not a dictator. He was a very smart man and he had a lot of good ideas. I do think that Im way less afraid of inequality than most people who are bleeding about it. Los Angeles, California 90012 . 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. DAILY JOURNAL CORPORATION. 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. And thats very interesting. Question: What would management [of Daily Journal] do with a sudden windfall of profits? So, I dont mind a little inequality and what I notice is that the rich families generally lose their power and wealthand pretty fast. Florida would have a really serious problem. Jeffrey Stacey, I enjoy it and others will also. I recommend that other people follow my example. The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $137,730 to $197,363 with the average total cash compensation of $163,305. Now 16 years have passed. Question: How important is the analysis of company culture in the investment process? 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. Are they more stable? 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. [1]: Create Email Alert, ***Log In or Daily Journal Corp's portfolio is diversified across 3 sectors. Previously, Buntain worked at The Carlyle Group, where he . I think that would be insanity. Question: With all the work from home with Zoom and other technology, what do you think the future of commercial real estate looks like? I think office buildings are now in some trouble and, of course, commercial real estate rented to stores has been in a lot of trouble for a long time. It was an accident. These positions were updated on January 5th based on the funds latest 13F filing. And he said; I cant decide the order of presidency between a flee and a louse. 1, 2023 By Tal Burnovski Yeyni A California court of appeal held it was not bound by SCOTUS' ruling. Question: Do you believe any psychological personality tests, such as the Myers-Briggs Type Indicator, to be of any good in choosing a compatible partner, given that choosing a spouse is probably the most important decision one can make in life. It reminds me of the key phrase and Bunyans Pilgrims Progress in which he says: My sword I leave to him who can wear it. Wheaton delivers amongst the highest cash operating . Announces Participation in 2023 ROTH Conference and 2023 UBS Global Consumer and Retail Conference. You must have a subscription to view WhaleScore histories. Gerry, can you ever remember Rick down? Put me down as skeptical. In fact, what a lot of shareholders actually do is crowd in buying stocks on frenzyfrequently on creditbecause they see that theyre going up. Charlie Munger: I dont think I use much physics in solving my investment problems but it occasionally helps me. Or, is it impossible to realize a deterioration quickly enough to exit without a loss? And some types of real estate in recent years has been particularly difficult. And we pay huge taxes to a combination of the federal government and the state of California when we sell something. I hope that that will continue in the future. 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 majority of the companies in the funds portfolio are large-cap stocks. And that isnt necessarily right for its customers. 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. The bad news is its not clear whos gonna win all the business or how much money is going to be made. That recognized reality and worked way better than what other people were doing. When you get into these hard questions, theres a lot of very intelligent honorable people who reach opposite conclusions. Charlie Munger: Well, I hope we dont have fewer truck stocks because Berkshire Hathaway is deeply involved in truck stops. The Daily Journal Corporation has been publicly traded since 1987 on the NASDAQ under DJCO. As a matter of fact, what happens is to make a nation rich, you need a free market system. And, I think that could happen, but, of course, thats not a sure thing. It just created the most unholy mess. God knows it was difficult but I dont think its a mistake. Today, the majority of contractual revenue that can be identified is from implementations and licenses. Nobody else has ever taken a big country out of poverty so fast and so on. Of course, we accomplished quite a bit working together. I think that that will probably continue. If its not good enough for Berkshire, shouldnt we have the same standards? Do you agree with the premise and if so how would you address inequality? She created a business with like 500 depression dollars that became a huge business. 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. Of course, thats a useful thing. Charlie Munger: I would go further. The average salary for Investor Relations Director at companies like DAILY JOURNAL CORP in the United States is $173,091 as of November 23, 2022, but the range typically falls between $149,030 and $199,970. 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: Well, I do have a tip. I learned those tendencies well enough to synthesize it with the rest of knowledge. That makes the whole thing very awkward. Bill Gates has written a book on this subject recently in which he concludes that it would be expensive but it could be handled. 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. I think the oil and gas industry will be here for a long, long time. Nothing is particularly obvious for everybody to do the same thing. Culture is very important. LOS ANGELES, CA We were trying to save the whole economy under terrible conditions. What can you learn from the Barry Duttons bookstore building deal in Brentwood and how would you apply that new knowledge or experience in the future? Titan International, Inc. c/o Investor Relations 1525 Kautz Road, Suite 600 West Chicago, IL 60185 investor.relations@titan-intl.com Board Contact Information Written correspondence for any member of Titan's Board of Directors may be sent to their attention: Titan International, Inc. c/o Corporate Secretary 2701 Spruce Street Quincy, IL 62301 Charlie Munger: Well, of course, if they bring in a brand new technology you dont understand at all, youre at something of a disadvantage. He was very amiable the way he talked about it. What happened is that BYD is very well positioned for the transfer of Chinese automobile production from gasoline-driven cars to electricity-driven cars. #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. 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. Daily Journal Corp is based out of Los Angeles. Charlie Munger: Well, I think all stocks can fluctuate. I dont think I can teach you how to retroactively get a new accident yourself. Charlie Munger: Well no, I dont think we have a bubble in Treasury securities. It operates through the Traditional Business and. Member-Only Podcasts What would be a mistake at the Daily Journal which we can all learn from? [As for] marketable securities, we prefer owning common stocks to holding cash under current conditions and its kind of an accident that we have so much in marketable securities. Tilly's, Inc. Munger and Salzman will take shareholder questions from CNBCs Becky Quick.Don't Miss: Valley of Hype: The Culture That Built Elizabeth HolmesWATCH HERE:https://youtu.be/Sb179GLPNYEWatch the 2021 Berkshire Hathaway Annual Shareholders Meeting on YouTube:https://youtu.be/gx-OzwHpM9kSubscribe to Yahoo Finance: https://yhoo.it/2fGu5BbAbout Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. And some bankers yield to the temptations. The average market cap of the portfolio companies is close to $220 billion. I dont think we have made a lot of horrible mistakes. You are limited to the prior 8 quarters of 13F filings. 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. 2/24/23. 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 I dont know the answer. This will schedule a job to export all requested 13f holdings data for this filer. -, 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.