That doesnt happen. Question: Do you think value investing is still relevant in a GDP-decreasing world? 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 think people have the theory that any intelligent hardworking person can get to be a great investor. If you dont spend the money, you and your heirs get to spend it eventually. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Some people think that value investing is you chase companies that have a lot of cash and theyre in a lousy business or something. New York, NY (March 25, 2021) - News Corp announced today it has agreed to acquire Investor's Business Daily from O'Neil Capital Management. for Q4 2022. DJCO | Daily Journal Corp. Annual Income Statement | MarketWatch DAILY JOURNAL CORP Investor Relations Manager - Salary.com I dont think Ive got any great insight about hydrogen. Questions: Why are some people incapable of learning new ideas and behaviors? 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. Do it right the first time. What little newspaper company has come through the crisis of this destroying of all the newspapers better than the little Daily Journal? The Superinvestors of Daily Journal Corporation - Forbes 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 theres also a large risk of losing it coming from within an organization. And weve had marvelous people here to help us do it through very difficult times and one of them is Gerry Salzman. DAILY JOURNAL CORPORATION : Company profile, business summary, shareholders, managers, financial ratings, industry, sector and market information | Nasdaq: DJCO | Nasdaq It wasnt some malevolence of the rich that caused it. Charlie Munger: Im a great admirer of Jeff Bezos whom I consider one of the smartest businessmen who ever lived. I came to law school having learned the method of learning and nothing has served me better in my long life than continuous learning. Were all pretty forgiving of ourselves too which is probably a good thing. The death tax in China is zero. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. Wheaton is the world's premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Titan International, Inc. - Investor - Contact Thats interestingwho in the hell is voting against the accountants? Meet-the-Author Summer Forum The agent name of this company is: GERALD L SALZMAN ,and company's status is listed as ACTIVE. Charlie Munger: Well, commission-free trading is a very good candidate for that if you want to emphasize disgusting-wise. Because of that fact, it's of the utmost importance for companies to maintain strong . 2021 Quotemedia. Munger became Chairman (because he was an attorney). When I was young, I rezoned some properties very successfully. Commission-free trading is not free. Charlie Munger: You have to be optimistic about the competency of our technical civilization. Question: It seems likely that the current Fed policy of keeping interest rates near zero will only exacerbate the income disparity in this country by benefiting those who own the financial assets. or to simply have an email sent to you whenever we receive a new I think the Chinese were very smart. And, pretty soon, he turned that into this gloriously prosperous place. Investor Relations Daily Journal Corp DJCO Valuation Morningstar Rating | Rating as of Jan 26, 2023 Quote Chart Stock Analysis News Price vs Fair Value . What do you think of all of the SPACs and the promoters pushing them? Bitcoin reminds me of what Oscar Wilde said about fox hunting. There arent that many people like Lee Kuan Yew that have ever lived. Daily Journal Corp's largest holding is Bank of America Corp. (North Carolina National Bank) with shares held of 2,300,000. But, of course, you should start out by studying the history of capitalism, how it worked, and why before you start studying business. Currently, Daily Journal Corp's portfolio is worth at least $174 million. Transcribed image text: Auditor Changes at Daily Journal Corporation Charlie Munger is vice chairman of Berkshire Hathaway Inc. and is informally known as Wa ren Buffetr's "right arm. As a matter of fact, its not clear to me that China would have done better if theyd copied every aspect of English civilization. +2.68%. Transfer Agent | Shareholder Services | Investor Relations | Norfolk Question: It is estimated that the Gates Foundation has saved well over 100 million lives. In 1978, the year Deng Xiaoping took over, it was 300. Its a funny way to make money. Daily Journal Corp publishes newspapers and web sites covering California and Arizona and produces several specialized information services. I dont think its like the newspaper business. Member of equity research team highly ranked by Institutional Investor and The Wall Street Journal. And were gonna play that as hard as we can. 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? Daily Journal Corporation Reports Earnings Results for the Full Year Ended September 30, 2022. Charlie Munger: I think Ive learned to avoid zoning work. And then the previous 100 years, that got another big chunk of modernity. You can hardly think of anything more important in life than being reliable for the people who trust you. Questions: Many observers see market behavior that reminds them of the Dot Com bubble: wild speculation, endless SPACs, and IPOs soaring on their first day of trading. And what did the Chinese communists do with respect to death taxes? 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. Similar Job Titles: I recommend that other people follow my example. I think when difficulty comes, I expect to have my share. 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 . This years annual report suggests that the traditional business has 97 full-time employees. the total portfolio value. How do you think about the hydrogen opportunity for transportation and how does it compare to the electric opportunity, specifically thinking about trucks versus cars. Charlie Munger: Well, I dont think its required that we be exactly the same on everything. DAILY JOURNAL CORPORATION - Address, Director information It doesnt happen anymore. All text and design is copyright 2020 WhaleWisdom.com. Investors play a major and vital role in the success and growth of a company. The MOI Global Editorial Team, led by John Mihaljevic, CFA, includes community builders, event organizers, writers, editors, research associates, security analysts, and fanatical member support advocates. 2023, Nasdaq, Inc. All Rights Reserved. Question: Your advice given on choosing a good spouse in Poor Charlies Almanac is terse. 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. Think of all the monopoly newspapers that used to be, in effect, part of the government of the United States. Question: I enjoyed your Caltech interview and wanted you to elaborate and provide more insights on your point of great investors and great chess players. Company Search - astfinancial.com I think the world is gonna be quite different. The IR Magazine Awards - US 2023 will take place on Thursday, March 30 in New York. I feel the same way about those choices. Contact. Question: What is the wisdom behind holding bank stocks compared to other stocks. Of course, thats a useful thing. Furthermore, hed gone through the Great Depression. Were beholden to the guidelines of the county of Los Angeles and other counties. And, I think that could happen, but, of course, thats not a sure thing. So, I think you can count on the fact that what were doing is going to be a big growing field. We do, as Charlie indicates, have a lot of travel. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. Podcasts enable members to enjoy content in a convenient format. If anybody can fix it, he can. 1996 - janv . I think that that will probably continue. Never before in the history of mankind have we seen such a rapid eradication of poverty, pulling approximately 800 million people out of destitution. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. #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. Of course, its hard to negotiate in such a field. Knowledge and know-how can act as an almost indestructible moat for a companys competitive position and growth prospects. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of . All-Time Favorites Charlie Munger: Well, thats a very good question. And so I dont think its necessarily crazy that good companies sell at way higher multiples than they used to. Well, I dont think the quality of publishing public notice advertising has gone down. Gerald Salzman: None. And its a shame that the economics textbooks dont emphasize how much a growing economy needs poverty in order to get out of poverty. Question: BYD is in the Daily Journal stock portfolio with a very big paper gain. Investment Ideas However, is there a price too high that the companys future profits simply cannot justify? How would you advise these institutions to manage their endowments over the coming decades? But, no, I dont think Treasury securities are a big problem. The votes in favor of that are 995,356 against 120. 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. And he said; I cant decide the order of presidency between a flee and a louse. Its a very dishonorable low-grade way to talk. 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? Gerald Salzman: There are a number of factors that come into play here. Charlie Munger: No, I would say that of course, theres some new material in misjudgment. Last year it quintupled. Charlie Munger: Well, I dont know how well the economys doing to work in the future. Good Earnings for Salesforce Might Give Activist Investors a Chill Pill CORRECTION - Daily Journal Corporation Announces Financial Resultsfor the Three Months.. Daily Journal Corporation Announces Financial Results for fiscal year ended September 3.. Daily Journal Corporation Announces Financial Results for the three months ended Decemb.. Daily Journal Corporation Announces Financial Results for fiscal 2017 ended September 3.. Daily Journal Corporation Announces Financial Results for Fiscal 2016 ended September 3.. Daily Journal Corporation Announces Financial Results for the Three Months Ended Decemb.. Daily Journal Corporation Announces Financial Resultsfor Fiscal Year Ended September 3.. Daily Journal Corporation Announces Financial Results for the Nine Months Ended June 30.. Daily Journal Corporation Announces Financial Results for the Six Months Ended March 31.. Daily Journal Corporation Receives Notice Regarding Non-Compliance With NASDAQ Listing .. Daily Journal Corporation : Announces Financial Results for the Three Months Ended Decembe.. Daily Journal Corporation : Announces Financial Results for the Fiscal Year ended Septembe.. Daily Journal Corporation : Announces Financial Results for the Nine Months ended June 30,.. Daily Journal Corporation : Announces Financial Results for the Six Months ended March 31,.. Interim 2023 Earnings Release (Projected), THE NEW YORK TIMES COMPANY : Q1 2023 Earnings Release (Projected), NEWS CORPORATION : Q3 2023 Earnings Release (Projected), REACH PLC : Interim 2023 Earnings Release, Daily Journal, long overseen by Charlie Munger, halves stake in China's Alibaba. Iovance Biotherapeutics Reports Fourth Quarter and Full Year 2022 And my advice would be if you have a fixable disadvantage, remove it. The Daily Journal shareholders will have to take whatever outcome comes from caring more about our customers than is at all common. No, I dont think I have anything to contribute. Question: Charlie, you are known as an advocate for learning from ones mistakes. How can you not? Of course, if he had a chance to do it over again, he would avoid those mistakes. They had to because the traditional business newspaper business is shrinking. Tilly's, Inc. And, I was always aware of that and so Ive accepted these damned annual meetings. The decision was. Its difficult, but its not impossible investing in bank stocks successfully. You are limited to the prior 8 quarters of 13F filings. Charlie Munger: Well, heres what I meant. We have offices in all the major cities in California and also in Logan, Utah. Charlie Munger: Well, of course, the places downsized. Charlie Munger: Well, the business around here that has the most promise is our software business automating the courts. Question: My question concerns China. Delayed Nasdaq Will we have fewer gas stations or truck stops in the future? Seneca Foods' (NASDAQ:SENE.A) investors will be pleased with their notable 70% return over the last three years 10/18/2022 3:57 PM. Since the annual event first launched in 1996 . And if there is one thing the world could learn from Singapore, what would that be? Featured Content The largest investments include Bank Of America and Wells Fargo & Co, together worth $142 million. Its hard to run a bank intelligently. So, its a serious problem. 2022 Junto Investments, all rights reserved. No one knows for sure just how much government intervention is wise and at what point the government should stop intervening. 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? He gasped and said, but hes never had anything to do with newspapers or anything else. Rose Blumpkin had quite an effect on the Berkshire culture. Im not going to change. But I do think having a whole system to sell hydrogen is difficult. I have a bust of Lee Kuan Yew in my house. It's always a wonderful pleasure to hear Charlie Munger speak at the Daily Journal Annual Meeting. How do I update this listing? 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. I would imagine that applies to the broad market too. Charlie Munger: I dont think so. Any tips for someone who wants to work on and improve their ability to hold two opposing views at the same time? "While Kimberly was head of Investor relations . Charlie Munger: I think Im alive because of a lucky genetic accident. New species are created and old species are dying. 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. A lot of things are going to change. Everything you see is profit. No, I dont have any secrets. 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, you know, I had a failed marriage, so I dont think Im in the perfect position to advise the young about marriage. Seneca Foods Reports Sales and Earnings for the Three Months Ended July 2, 2022 8/11/2022 4:10 PM. 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. Billionaires Group He loved to kid people. Question: What is the biggest lie currently being perpetuated by the investment complex? When you get into these hard questions, theres a lot of very intelligent honorable people who reach opposite conclusions. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September .. Daily Journal : Fiscal Q3 Earnings Snapshot. Always on point. We miss Rick terribly. Daily Journal Corps portfolio is diversified across 3 sectors. Licensed software for many ten-year contracts is currently in the multi-year implementation stage. Or, has the digital revolution caused enormous productivity improvements in those businesses? Question: What do you hope the future of the Daily Journal Corporation looks like in a decade? Question: You identified the opportunity in electrification and invested in BYD. And, we hope to do well in it. to see more advanced email alert options such as selecting any type of . At this rate, he'll likely (hopefully) reach the longevity of Irving Kahn. I think they would have come out worse because their position was so dire and the poverty was so extreme, they needed very extreme methods to get out of the fix they were in. 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 Charlie Munger: Ben Franklin was one of the wisest men who ever lived. 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. On the other hand, we have a fair amount of time to do it. He was death on corruption which was a very good idea. The first rule of a happy life is low expectations. Hell be able to do it. Charlie Munger: Thats too hard in general a question for me. [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. Charlie Munger: Well, I have the same difficulty that Samuel Johnson once had when he got a similar question. 75% of the total holdings value. And I think the directors of GE deserve a lot of credit for making Larry Culp the CEO. If you continue to use this site we will assume that you are happy with it. Im afraid thats the way we all have to leave our swords. They really need the world to stay the way it is. Charlie Munger: I have seen an episode or two of the Queens Gambit. Question: Is the oil and gas industry the new newspapers? Whoever dreamed when I was young that Kodak and General Motors would go bankrupt. And it was probably wise that we acted exactly as we did. When I saw that psychology was necessary and I didnt have it, I didnt just learn the little tendencies well enough to get As in psychology. And they dont just keep everlastingly at it the way he did. So its very difficult. All the good things. daily journal corporation investor relations Bruker Corporation to Present at Investor Conferences Knox Lane hires Buntain to head investor relations | PE Hub What happened is that BYD is very well positioned for the transfer of Chinese automobile production from gasoline-driven cars to electricity-driven cars. They just copied Adam Smith and left out the free speech and it worked fine for them. Click the button below to request a report when hardcopies become available. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. I dont think its easy for ordinary people to become great investors. How did Eugene achieve incredibly low loan losses over the long term while so many other bankers have failed miserably? I dont think I can teach you how to retroactively get a new accident yourself. Theyre no longer using peasant girls to beat the brains out of our little shoe companies in America. Charlie Munger: Its partly culture but a lot of it is just born in and its a quirk. That makes the whole thing very awkward. Do Not Sell My Personal Information (CA Residents Only). Question: We have a couple of questions about J.P. Rick Guerin. Gerald Salzman: Always upbeat, yes. Charlie Munger: 2022 Daily Journal Annual Meeting Transcript - Junto I would hate to compete with Sequoia in their field. Our editorial system and our advertising system are all in the cloud. In 1860, GDP per capita in China was 600. Best Ideas Conference Can you speak to the causes, the trend, and make some predictions? He was just a very old-fashioned sound thinker. And, of course, thats a very dangerous way to invest. What are his thoughts on modern monetary theory? For example, Coca-Cola in the past. Is it Bitcoin, decentralized finance, or something else? The Form 13F report requires disclosure of the manager that files the report, the name and class of the security, the CUSIP number, the number of shares . And when things get as crazy as they were in the event youre talking about, there are threats of clearinghouse failure. So, you have to be a little closer to the employees needs, desires, babysitting, and all those activities that were kind of taken for granted in the past. Performance If its not good enough for Berkshire, shouldnt we have the same standards? I am more willing to hold stocks at high multiples than I would be if interest rates were a lot lower. I hope that that will continue in the future. I think management should tell it like it is at all times and not be a big promoter of its own stock.
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