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. And the next time around the poor will get richer faster than the rich. And theyre all dyingevery damn one of them almost. But theres also a large risk of losing it coming from within an organization. His method for doing it was so simple. 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 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. He doesnt mind at all not getting credit for his charitable donations. Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. Matthew has over a decade of experience with global financial services firms including Goldman Sachs, Morgan Stanley, Merrill Lynch, American Express, and Ameriprise Financial. 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. Charlie Munger: Well, I never owned a share of General Electric because I didnt like the culture. You saw the ebb and flow of industry and the creative destruction of the economic changes and so on. 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. They manage And my advice would be if you have a fixable disadvantage, remove it. We are now a thriving global community of intelligent investors, connected through great ideas, thought-provoking interviews, online conferences, live member events, and much more. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBpConnect with Yahoo Finance:Get the latest news: https://yhoo.it/2fGu5BbFind Yahoo Finance on Facebook: http://bit.ly/2A9u5ZqFollow Yahoo Finance on Twitter: http://bit.ly/2LMgloPFollow Yahoo Finance on Instagram: http://bit.ly/2LOpNYzFollow Cashay.comFollow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV Charlie Munger: Well, commission-free trading is a very good candidate for that if you want to emphasize disgusting-wise. Its hard to run a bank intelligently. I own some apartment houses, so I like that investment, provided youve got a perfect management which is hard to get. SEC Form 13F Filing History. You dont need to worry about them. We got a dividend of two and a half million shortly thereafter. Think of whats died in my lifetime. The stock appreciated probably way more than intrinsic value. Question: What would management [of Daily Journal] do with a sudden windfall of profits? 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%. Charlie Munger: Well, thats a very good question. Daily Journal Corp closed its position in Posco Adr on 5th January 2023. -, 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. Question: Is the oil and gas industry the new newspapers? Charlie Munger: Thats too hard in general a question for me. Rick was always humorous. 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. And that is why Costco presents some danger to Amazon. The company operates in two segments: Traditional business and Journal Technologies. Daily Journal Corporation Reports Earnings Results for the Full Year Ended September 30, 2022. And there arent many people that can do that. 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. The most important decision in life to benefit those who are single, perhaps including some of your grandchildren and great-grandchildren. Everybody is. He didnt know one damn thing about the Daily Journal when we made him head of it. Throughout the transcript below, I have included clickable links to my notes and articles . We hope theyll continue doing magnificently well. Costco I do think has one thing that Amazon does not. There are these periods in capitalism. A little wisdom in spouse selection is very desirable. 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? Charlie Munger: Well, I certainly hope that they succeed mightily in their software endeavor to automate all these courts for the modern world. Thats the good news. That makes the whole thing very awkward. What do you think of all of the SPACs and the promoters pushing them? So, its a serious problem. My guess is we have suffered some editorial quality. We are very excited to look forward to enabling the courts to function as we know that they want to and will in the future. Licensed software for many ten-year contracts is currently in the multi-year implementation stage. 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 . Gerald Salzman: None. Relative to the number of outstanding shares of Bank Of America, Daily Journal Corp owns more than approximately 0.1% of the company. And what did the Chinese communists do with respect to death taxes? 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. Because value investingthe way I conceive itis always wanting to get more value than you pay for when you buy a stock. Question: You have revised your famous talk on the standard causes of human misjudgment with considerable new material back in 2005. 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 . Charlie Munger: Well, that is easy. Do it right the first time. Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders. You used examples of Lee Kuan Yews good judgment in choosing someone with brains over certain physical attributes in your past interview. He said, figure out what works and do it. The original newspaper, The Daily Court Journal (Los Angeles), began publication in 1888. Theres a lot of competition and were a very small company compared to our main competitor. Local Chapters 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 Thats one you can easily arrange. And what he does is he sells about half of them always. 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. 2022 Junto Investments, all rights reserved. Youve even said business schools that dont adopt this method are doing their students a disservice. There arent that many people like Lee Kuan Yew that have ever lived. On Constellations trajectory as an HPC, the economics of a VMS, returns on capital, challenges in organic growth, the runway for M&A, the companys incentive system, and prospects for the use of FCF. Without the method of learning, youre like a one-legged man in an ass-kicking contest. Its not generally noticed by the public but clearinghouses clear all these trades. However, is there a price too high that the companys future profits simply cannot justify? Asian Investing Summit Charlie Munger: Im sure some are, but, by and large, thats not what Warren is known for. What I think is interesting about chess is, to some extent, you cant learn it unless you have a certain natural gift. When you pay for order flow, youre probably charging your customers more and pretending to be free. Voir plus Voir moins Financial Analyst PaineWebber, Inc - UBS fvr. Furthermore, hed gone through the Great Depression. Get the latest articles and insights directly to your email inbox. Daily Journal Corp (DJCO) 10K Annual Reports & 10Q SEC And he was a great kidder. But, a very wise man said on an earlier occasion: The trouble with banking is that we have more banks than we have bankers. Charlie Munger: Well, its most egregious in the momentum trading by novice investors lured in by new types of brokerage operations like Robinhood. In-person events hosted by MOI Global bring together inquisitive minds to explore ideas of consequence in investing, business, and life. I recommend that other people follow my practice. Absolute insanity. Youd say that everybody does that in their education but I dont think everybody does. And thats the way Eugene was in his community. Gerrys lived a long time too and I think we both have been lucky. 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. What, for example, is to stop the Chinese government from simply deciding one day to nationalize BYD? Both Berkshire and Li Lu own BYD Company which you spoke highly of in the past. They had to because the traditional business newspaper business is shrinking. Is it digital wallets like PayPal, Square, or Apple Pay? N/A: N/A: N/A: . But, of course, you should start out by studying the history of capitalism, how it worked, and why before you start studying business. 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. But there again, it's an interesting thing. Ive been around for a long time and my policy has always been to just write them out. So, no I dont think its the responsibility of management to assure where the stock sells. A lot of things are going to change. Some people think that value investing is you chase companies that have a lot of cash and theyre in a lousy business or something. 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. I hope the newspaper survives too. This is a highly desirable thing. Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. This is cheap compared to Tesla currently valued at over 1100 times P/E and 24 times sales. USD. What do you make of these two pricings? And like last year, you will in this note find a full transcript of the entire meeting. So far the evidence would be that maybe the monetary modern monetary theory is right. Governance. At this rate, he'll likely (hopefully) reach the longevity of Irving Kahn. Just time after time, he would choose the right system. Charlie Munger: Well, I dont know how well the economys doing to work in the future. Daily Journal Corp is based out of Los Angeles. The jurisdiction for this foreign stock company is SOUTH CaliforniaROLINA. Subscribe Columns Labor/Employment Viking River PAGA ruling has no clear destination for employers Mar. On the other hand, the buses in Los Angeles work on natural gas. This Week in Intelligent Investing. They really need the world to stay the way it is. You know what her mottoes were? On December 18, 2020the record datethere were 1,380,746 shares of common stock of the company outstanding. Youve said recently that Sequoia is the greatest investment firm ever. Best Ideas Omaha Given the developments over the past year, could you give us an update on your assessment of wretched excess in the system? are based in the United States. 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 All rights reserved. And I dont think youll find me engaged in the massive rezonings in the future. Hed been a receiver for a bank. I cant help you. for Q4 2022. Best Ideas Conference What do you think we can do to help those who are currently falling behind as a result of this pandemic? Currently, their heaviest sector is Finance making up 81.3% of the total portfolio value. Gerald Salzman: Well, we dont think about mistakes. Munger also serves as chairman of Daily Journal Corporation, which publishes 10 newspapers and offers specialized information services and technology-based prod. And by the way, I think its hard to teach. But its hard for anybody. The decision was. I think you should try and make your money in this world by selling other people things that are good for them. Question: You often advocate for learning from other peoples big calamities and stupidities. All rights reserved. All rights reserved.