Charlie Munger: Well thats an easy one. I think its just to some extent you either have it or you dont. Computershare Investor Services 8742 Lucent Boulevard, Suite 225 Highlands Ranch, CO 80129 . Charlie Munger: Well, that is easy. 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? And he was a great kidder. You are on record as a zealous fan of the Chinese work ethic and Confucian value system. But he previously worked for Rick Guerin and me in running a little mutual fund that we bought control of. But Im flabbergasted at how well theyre doing. Buffetts donations to the foundation have obviously helped to save many millions. Thats what the communists are doing. Charlie Munger: I dont think so. Gerry, can you ever remember Rick down? Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. Theres a lot of competition and were a very small company compared to our main competitor. As a result of holding those two positions, we have a lower cost than anybody else and we make more money than practically everybody else. Gerry and I have been together, how many years Gerry? Timeless Selections Question: How do you control your investments in a world where reasonable companies with a good image like General Electric sink rapidly into the bottomland of the stock market. Charlie Munger: I have seen an episode or two of the Queens Gambit. His method for doing it was so simple. SEC Form 13F Filing History. There are currently 4 companies in Mrs. Tos portfolio. Theyve served us well over the years. Meet-the-Author Summer Forum People really trust Costco will be delivering enormous value. Ive been pretty quiet. Gerry, being a sound thinker, you know, did the very unpleasant work of shrinking it appropriately without bothering me or Rick. And we cant go to many offices because theyre closed. And so, we cant promise were going to succeed. Question: [The questioner] quotes a commencement address you gave in 2007 at USC Law School. And, of course, it works way better than our medical system. Los . 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. Request Information And, of course, its all worked. Im just trying to get a feel for what the long-term capital allocation is. We admire the company and like its position. Im not trying to move mountains. Hed been a receiver for a bank. The Daily Journal Corporation has been publicly traded since 1987 on the NASDAQ under DJCO. 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 Its just not gonna work. The decision was. Costco I do think has one thing that Amazon does not. Charlie Munger: Well, it certainly does and thats the kind of thing that can happen when you get a whole lot of people who are using liquid stock markets to gamble the way they would betting on horses. One is a big interest in Li Lus China fund, which is a limited partnership, and the other is a Vanguard index fund. And we immediately ascended, we put Gerry in, and hes made every decision wonderfully ever since. Latticework Podcast 2022 Junto Investments, all rights reserved. But, of course, I think there will be more automation in transportation of all kinds in the future. Question: BYD is in the Daily Journal stock portfolio with a very big paper gain. 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. The meeting was held on February 24, 2021. 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. And thats the right way to do it. What were the lessons learned? Since the annual event first launched in 1996 . Charlie Munger: Gerry, whats the biggest mistake weve made? I dont think Im likely to have any new thoughts that are going to work miracles either. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. How do you recognize a potential downfall in a company you hold/invest in? Question: Why is Berkshire Hathaway selling shares of Wells Fargo as quickly as one can and the Daily Journal has sold one share? Best Ideas Omaha Of course, thats a useful thing. The company's other titles include Daily Commerce, The Daily Recorder and the Inter-City Express . And, we have to function as an informal committee in that we have to bring our employees and our clients together to work out what they already know and how we can help them do a better joba more efficient job. Bitcoin reminds me of what Oscar Wilde said about fox hunting. MOI Global en Espaol. Intelligent Investing in Crisis Mode. And what he does is he sells about half of them always. If you take the last 100 years, 1922 to 2022, most of modernity came in in that 100 years. Question: With all the work from home with Zoom and other technology, what do you think the future of commercial real estate looks like? Everybody is. Apartments have come through better. The total number of shares, represented by proxies at this meeting, are 995,682, which are more than enough to constitute a quorum making the meeting duly held. I recommend that other people follow my example. Member-Only Podcasts And weve had marvelous people here to help us do it through very difficult times and one of them is Gerry Salzman. I think its much easier to find five than it is to find a hundred. So he married her. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. The IR Magazine Awards - US 2023 will take place on Thursday, March 30 in New York. The largest investments include Bank Of America and Wells Fargo & Co, together worth $142 million. We cant promise what the outcome will be but we are trying pretty hard and we get some favorable impressions of progress. He doesnt mind at all not getting credit for his charitable donations. What happened is that BYD is very well positioned for the transfer of Chinese automobile production from gasoline-driven cars to electricity-driven cars. But theres also a large risk of losing it coming from within an organization. But we cant. So, I dont think Bitcoin is going to end up as the medium of exchange for the world. This information can be used by investors to verify and understand the financial position of the company. 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. Nobody should believe that Robinhoods trades are free. At this rate, he'll likely (hopefully) reach the longevity of Irving Kahn. I think they stopped because if you taught that course, youd be stealing the best cases from the individual professors of marketing and so on and so on. Youre better off concentrating your decision power on one person the way the Li Lu partnership does and then choose the right person. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. And the next time around the poor will get richer faster than the rich. Question: Why, almost two years ago, did you believe that Costco was the only U.S. stock worth buying? Ryan Buntain has joined Knox Lane as head of investor relations, according to a spokesperson for the firm. But, of course, you should start out by studying the history of capitalism, how it worked, and why before you start studying business. We all live with that problem. 50.0% of the portfolio companies And I think that that is inevitable because its difficult to be a good investor. So, of course, I admire him. Give me a new question. According to the last 13-F report filed with the SEC, Tu To serves as the Chief Financial Officer at Daily Journal Corp. Charlie Munger: Im sure some are, but, by and large, thats not what Warren is known for. Charlie Munger: Well, its most egregious in the momentum trading by novice investors lured in by new types of brokerage operations like Robinhood. 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 . Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. On the other hand, the buses in Los Angeles work on natural gas. I dont think its easy for ordinary people to become great investors. Investment Ideas Question: You famously run investments through your mental checklist. And you mentioned technologythats very, very important. How can you not? Tom Gayner, Adds value to my research process. DAILY JOURNAL CORPORATION was incorporated on 13 Apr 1987 as FOREIGN STOCK company type registered at 915 EAST FIRST STREET LOS ANGELES CA 90012. Look around all this real estate. We have our crotchets and I just dont know enough about it to want to go into that activity. Charlie Munger: Well, the people doing the computer software are doing magnificently wellthe people under Gerry: Maryjo and Danny. Charlie Munger: I dont know how permanent its going to be but it certainly caused a change. Charles T. Munger, who is also vice chairman of Berkshire Hathaway, is the former chairman and a current director.. Publishing business. Its a very dishonorable low-grade way to talk. Their last reported 13F filing for Q4 2022 included $174,434,000 in managed 13F securities It was a background that helped everybody. I think theyre probably right, by the way. I tend to avoid the ones which Im not good at and Im not good at a lot of different problems. Charlie Munger: Well, of course, if they bring in a brand new technology you dont understand at all, youre at something of a disadvantage. Latticework New York BILLERICA, Mass., (BUSINESS WIRE) -- Bruker Corporation (Nasdaq: BRKR) announced today that Gerald Herman, Executive Vice President & CFO will present on. That makes the whole thing very awkward. We are subject to the orders and directions of those counties which, before, really didnt impact anything. I learned those tendencies well enough to synthesize it with the rest of knowledge. February 12, 2020 . Question: Previously, you have said; It takes character to sit with all that cash and do nothing. Hell be able to do it. Charlie Munger: I think Im alive because of a lucky genetic accident. Question: Youve said several times that the best way to learn about business is to study the multi-decade financial results of great companies. Just time after time he would do something like that. Non-members may peek into the world of MOI Global via limited access. He said, figure out what works and do it. Tilly's, Inc. Gerrys lived a long time too and I think we both have been lucky. to see more advanced email alert options such as selecting any type of Of course, that will still work. Charlie Munger: I dont think I use much physics in solving my investment problems but it occasionally helps me. Its too volatile to serve well as a medium of exchange. Im afraid thats the way we all have to leave our swords. I prefer the United States. Daily Journal Corporation has 1 stars. Thats the nature of capitalism. So it gets very dangerous. I dont think its like the newspaper business. In display advertising, for example, we now utilize a very friendly company that worked with us for 25 years and now they are helping us sell advertising. Charlie Munger: Well, it helps to be able to leave the IQ test early with the highest score. And some bankers yield to the temptations. 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. Question: The Federal Reserve appears to be supporting asset prices. Larry Summers has recently been quoted as being worried that were having too much stimulus. And there arent many people that can do that. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. 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. 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. So, no I dont think its the responsibility of management to assure where the stock sells. 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 I dont think it was a mistake to buy the Daily Journal when we did, paying the price we did. 2023 Annual Meeting. Download 13F Summary Were going to bust our ass to try and do a good job. Daily Journal Corporation Board Diversity Matrix Disclosure Nasdaq Requirement. But the Chinese have proved that you dont need free speech to have a wonderful economy. He took over a malarial swamp with no army, no nothing. Advisory, processing and support for complex transactions, including M&As, IPOs and stock splits. But show me a psychology department that knows how to do that. Our 2023 Annual Meeting of Shareholders will be held on Thursday, May 4, 2023 at 8:30 a.m. We were together in that for a long, long time, and then Rick and I did the Daily Journal together on another occasion. 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. Charlie Munger: Well, we dont really know where its all going.
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