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. Value investors know Warren Buffett's classic retort to efficient market theory, "The . Costco I do think has one thing that Amazon does not. DJCO | Daily Journal Corp. Company Profile & Executives - WSJ Everybodys got a different situation. That is true and makes sense. He was a very smart man. And what did the Chinese communists do with respect to death taxes? Charlie Munger: No, I would say that of course, theres some new material in misjudgment. Question: It seems like everyoneincluding actors, athletes, singers, and politiciansis getting into the business of promoting their own SPAC. Its just that some people look for values in strong companies and some look for values in weak companies. Los Angeles, California 90012 . I expect that and I welcome it. Rick was always humorous. Are Berkshires managers aware that through their efforts to create business success at Berkshire that they have been involved in saving millions of lives? I dont think we have made a lot of horrible mistakes. If anybody can fix it, he can. Remember the Dot Com boom when every little building in Silicon Valley ran into a huge price and a few months later about a third of them were vacant. Charlie Munger Just Doubled Down on Alibaba: Should Investors Follow Investor Relations & Corporate Communications 650-260-7120 ext. I think you can count on the fact that if we really like the company and we like the managementand that is the way we feel about BYDwere likely to be a little too loyal. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. DAILY JOURNAL CORPORATION. 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 . And I think that that is inevitable because its difficult to be a good investor. I think the oil and gas industry will be here for a long, long time. On the other hand, it could be handled. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. This information can be used by investors to verify and understand the financial position of the company. Charlie Munger: Well, I dont know how well the economys doing to work in the future. If you dont spend the money, you and your heirs get to spend it eventually. Thats one you can easily arrange. Im not saying that oil and gas is going to be a wonderful business but I dont think its going away. 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! Until his recent step-down as chairman of the board in April, the marketable. When you pay for order flow, youre probably charging your customers more and pretending to be free. Its like evolution in biology. And there arent many people that can do that. How do you recognize a potential downfall in a company you hold/invest in? And some bankers yield to the temptations. 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. If you take the last 100 years, 1922 to 2022, most of modernity came in in that 100 years. Charlie Munger: Yes, I think that is rising as we sit here. And since we are on the subject of selling potentially overvalued security, could you provide your systems for selling securities? LEARN MORE. These symbols will be available throughout the site during your session. And my advice would be if you have a fixable disadvantage, remove it. We are in fact being a more difficult type of software business than Microsoft. As for some of our technology, like eFiling for example, the courts are closed. 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. Just time after time, he would choose the right system. And, I was always aware of that and so Ive accepted these damned annual meetings. It also serves as a newspaper representative specializing in public notice advertising. Youre right. February 12, 2020 . But, of course, you should start out by studying the history of capitalism, how it worked, and why before you start studying business. Buffetts donations to the foundation have obviously helped to save many millions. 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 . Thats the nature of capitalism. Market Holidays Daily Analyst Ratings Daily Insider Trading. And I think that were crazy to allow it. Download 13F Summary Chinas economic record among the big nations is the best that ever existed in the history of the world. Intelligent Investing in Crisis Mode. Daily Journal Corporation (DJCO) company profile & facts - Yahoo! Computershare Investor Services 8742 Lucent Boulevard, Suite 225 Highlands Ranch, CO 80129 . Daily Journal Corporation has 1 stars. And I just think it was academically inconvenient for them. Gerald Salzman: Always upbeat, yes. This years annual report suggests that the traditional business has 97 full-time employees. I came to law school having learned the method of learning and nothing has served me better in my long life than continuous learning. 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 Seneca Foods Reports Sales and Earnings for the Three Months Ended July 2, 2022 8/11/2022 4:10 PM. 2021 Quotemedia. And, we hope to do well in it. Could you please elaborate on the subject and could you consider giving a talk on this particular subject? 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. Nothing is particularly obvious for everybody to do the same thing. Charlie Munger: Well, generally speaking, I dont try and compete with Sequoia. In 1860, GDP per capita in China was 600. Good Earnings for Salesforce Might Give Activist Investors a Chill Pill New species are created and old species are dying. How can you not? Today, it hovers around 9500. So its very difficult. The wealth management industry has a crisis on its hands. How did Eugene achieve incredibly low loan losses over the long term while so many other bankers have failed miserably? Nobody was trying to make the rich richer. Have you met Lee Kuan Yew in person? Question: What advice would you give to someone who is trying to stay within their circle of competence but finding that the pace of technical technological innovation is rapidly reducing that circle? I was very lucky. Jen Saunders Jeffrey Stacey, I enjoy it and others will also. Im not going to change. If its not good enough for Berkshire, shouldnt we have the same standards? DAILY JOURNAL CORP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ANDRESU.. Daily Journal Corporation Announces Financial Resultsfor the Three Months ended Decemb.. DAILY JOURNAL CORP Management's Discussion and Analysis of Financial Condition and Res.. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September 3.. Daily Journal Corp : Change in Directors or Principal Officers (form 8-K). And by the way, I think its hard to teach. Investor Letter Excerpts So, I think for some folks, early-stage investing is best, and for other folks, what Ive done in my life is best. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. If the seas were to rise 60 feet, which could happen in another 100 years or so, wed have to build enormous barriers to sea entry. 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. Daily Journal Corp (DJCO) 10K Annual Reports & 10Q SEC What is Investor Relations? Issuer Direct 2/24/23. I think when difficulty comes, I expect to have my share. Of course, its going to be difficult. Imagine a bunch of Chinese communists turning a whole lot of Chinese and the billionaires in a big hurry. There are factories in China that are just absolutely full of robots and are working beautifully. 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. I think people have the theory that any intelligent hardworking person can get to be a great investor. All text and design is copyright 2020 WhaleWisdom.com. Considering their system, that is not what he should have been doing. Members enjoy a steady stream of exclusive wisdom and insights from the leading minds in the field of investment management. Gerry has done magnificently well. 915 East First Street. Charlie Munger: Gerry, whats the biggest mistake weve made? Ellen Ireland will be inspector of elections. Gerry, being a sound thinker, you know, did the very unpleasant work of shrinking it appropriately without bothering me or Rick. You can argue that I got close to Sequoia when with Li Lu we bought into BYD. They dont work that hard at figuring out what works and what doesnt. Question: You are one of the oldest and greatest thinkers of our time. At the age of 97, Charlie Munger wasnot surprisinglysharp as a tack. Charlie Munger: Well, these things do happen in a market economy. We use cookies to ensure that we give you the best experience on our website. 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 Daily Journal Corporation is an American publishing and technology company with hidden assets and off-balance sheet value. Charlie Munger: I think Im alive because of a lucky genetic accident. Question: What books are you currently reading and what can you reccomend? Give me a new question. So, I think you can count on the fact that what were doing is going to be a big growing field. Thats interestingwho in the hell is voting against the accountants? Ive seen the whole bus system shift from gasoline or diesel to gas and so it obviously isnt impossible, but youd have to create a whole new system of supply for it. 2022. One is a big interest in Li Lus China fund, which is a limited partnership, and the other is a Vanguard index fund. And, as Gerry has just said to me just after breakfast, you wouldnt want to invest in a parking lot by a courthouse for the future because an awful lot of the court proceedings are going to go to the internet. I do think the present CEO is an extraordinarily able man and the directors made a very wise choice when they put him in charge. And he was just so good. I have a bust of Lee Kuan Yew in my house. 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. 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? Investor Relations Daily Journal Corp DJCO Valuation Morningstar Rating | Rating as of Jan 26, 2023 Quote Chart Stock Analysis News Price vs Fair Value . 2023 Annual Meeting. What do you think of all of the SPACs and the promoters pushing them? And I dont think that we or the Daily Journal is getting ahead because weve got some wonderful macroeconomic insight. Charlie Munger speaks at the Daily Journal annual meeting Of course, his son, who is a bright man, is now Prime Minister of Singapore. This information can be used by investors to verify and understand the financial position of the company. Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. But you know, most people dont do that. He was that smart. And its rather interesting. Question: Is the oil and gas industry the new newspapers? February 26, 2021 / Richard Lewis / 6 Comments. Question: Has your opinion on cryptocurrencies remained the same? 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. So you now know what I do in charitable institutions. Daily Journal Corporation What I see in China now just staggers me. We dont have any other secrets, do we Jerry? As a matter of fact, it will be here for a long, long time if we stop using many hydrocarbons in transportation. Well, I dont think the quality of publishing public notice advertising has gone down. 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. Information and insights on key investors, paired with strategic outreach to help corporations capitalize on relationships. 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. Question: Mr. Munger is a champion of Chinese stocks. Now, it sounds like anybody would know that made sense. Charlie Munger speaks at the Daily Journal Annual Meeting News Corp Announces Acquisition of Investor's Business Daily Im afraid thats the way we all have to leave our swords. Theres a lot of competition and were a very small company compared to our main competitor. Gerald Salzman: There are a number of factors that come into play here. And I think, by and large, we made the most practical decisions that were available to us. 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. Featured Content Absolute insanity. Question: You and Warren have been adept at quickly sizing people up, particularly business leaders and potential business partners. There are companies that Daily Journal Corp is getting rid of from its portfolio. It doesnt happen anymore. I recommend that other people follow my practice. A single vial can cost upwards of $300, meaning a monthly cost of $1,000. 1996 - janv . 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. The first rule of a happy life is low expectations. Gerrys lived a long time too and I think we both have been lucky. New Investor Information - Cel Sci Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities The base salary for Investor Relations Manager in companies like DAILY JOURNAL CORP range from $117,251 to $165,504 with the average base salary of $145,822. Latticework New York And we immediately ascended, we put Gerry in, and hes made every decision wonderfully ever since. N/A: N/A: N/A: . Implementation is expensed as provided, while the long-term recurring high-margin revenue is not yet included on the income statement. Charlie Munger: I dont know how permanent its going to be but it certainly caused a change. While historically a legal newspaper publishing company, today DJCO operates a SaaS business model providing case management software to courts and government agencies around the U.S. and the world. BYD sells at nearly 200 P/E. I do think banking run intelligently is a very good business. Previously, Buntain worked at The Carlyle Group, where he . And, he was very good company and a splendid gentleman. All rights reserved. Podcasts enable members to enjoy content in a convenient format. 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. But its hard for anybody. European Investing Summit Daily Journal Corporation Company Profile | Los Angeles, CA The Daily Journal's 'Slow and Awful' Path to LegalTech Success And so, the stock went way up. And he said; I cant decide the order of presidency between a flee and a louse. Question: Its been a year since the coronavirus pandemic came to the U.S. What have you all learned about running a business in the past year? So we were like an undertaker who suddenly got prosperous in a plague year. 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. The editorial team seeks out thought-provoking insights and variant perspectives from across the membership network and beyond. 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 . Subscribe Columns Labor/Employment Viking River PAGA ruling has no clear destination for employers Mar. But he was 90 years of age. I dont define that as value investing. (Disclosure: the author has a position in the Daily Journal Corporation - a reliable sell indicator.) 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. 306.00. They just copied Adam Smith and left out the free speech and it worked fine for them. Member-Only Podcasts Im pretty easy on myself these days. DJCO | Daily Journal Corp. Financial Statements - WSJ We admire the company and like its position. You are limited to the prior 8 quarters of 13F filings. Los . Thats our system. But I dont think thats going to end up with a mistake. This Week in Intelligent Investing. 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. 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? Charlie Munger: Well, commission-free trading is a very good candidate for that if you want to emphasize disgusting-wise. BYD stock did nothing for the first five years we held it. Because if you do that, Im a moral leper. The two most similar investment funds to Daily Journal Corp are Platform Technology Partners and Mtm Investment Management. I have a very simple idea on the subject. In Singapore, you get a savings account the day youre born. Thats entirely due to the practical talent of Lee Kuan Yew. Ive been pretty quiet. DJCO | Daily Journal Corp. Annual Income Statement | MarketWatch You have said that the single best way is to deserve a good spouse because a good spouse is by definition not nuts. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. Question: Last year, almost every ecommerce, internet, and internet adjacent stock was up 100 plus percent. 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. Throughout the transcript below, I have included clickable links to my notes and articles . But, no, I dont think Treasury securities are a big problem. The majority of revenue is generated from Traditional business segment. And I dont think youll find me engaged in the massive rezonings in the future. And, of course, thats a very dangerous way to invest.