[The questioner] would like to know what Charlies method of learning is. Charlie Munger: Real estate has always been a difficult field. To the extent that my thoughts have helped my life, I think Ive pretty well run the course. 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. Appian: Well-Positioned Platform for Building Enterprise Software, PDF Solutions: Lowly Valued, with Net Cash and Growing SaaS Business, Interactive Brokers: Automated, Low-Cost, High-Margin Business. Description Daily Journal Corp. Daily Journal Corp. engages in the publication of newspapers and websites covering California and Arizona. Charlie Munger: Early 70s. Daily Journal Corporation Reports Earnings Results for the Full Year Ended September 30, 2022. Question: What is the wisdom behind holding bank stocks compared to other stocks. I think its just to some extent you either have it or you dont. And my advice would be if you have a fixable disadvantage, remove it. Charlie Munger: I dont think I use much physics in solving my investment problems but it occasionally helps me. #CharlieMunger #DailyJournalAnnualMeeting #BerkshireHathaway Yahoo Finance is the exclusive live stream platform for the fully virtual Daily Journal ($DJCO) Annual Meeting with Chairman Charlie. 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. Im Charlie Munger, Chairman, and to my right is Jerry Salzman, CEO. In a recent regulatory filing, The Daily Journal ( DJCO -3.51%) disclosed that it had bought more shares of Chinese giant Alibaba ( BABA 2.46%) with its corporate cash. Bitcoin reminds me of what Oscar Wilde said about fox hunting. Thats entirely due to the practical talent of Lee Kuan Yew. Question: Youve said several times that the best way to learn about business is to study the multi-decade financial results of great companies. Gerald Salzman: None. 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. 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. But he could play chess blindfolded at just below the Grandmaster level. Click the button below to request a report when hardcopies become available. He said it was the pursuit of the uneatable by the unspeakable. It was totally required. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. And, of course, its all worked. Charlie Munger: Well, I consider that very unlikely. I do think that we dont know what these artificially low interest rates are going to do or how the economy is going to work in the future as governments print all this extra money. Everybody has shortcuts to screen out certain hazards. MUNCIE, Ind., Jan. 05, 2023 (GLOBE NEWSWIRE) -- First Merchants Corporation (Nasdaq:FRME) will report fourth quarter 2022 financial results on January 26, 2023. Charlie Munger: Well no, I dont think we have a bubble in Treasury securities. You fix what you can fit, and what you cant fix, you endure. It wasnt some malevolence of the rich that caused it. And if there is one thing the world could learn from Singapore, what would that be? You can argue that I got close to Sequoia when with Li Lu we bought into BYD. 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. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. But there again, it's an interesting thing. And so, we cant promise were going to succeed. I think management should tell it like it is at all times and not be a big promoter of its own stock. What, for example, is to stop the Chinese government from simply deciding one day to nationalize BYD? The total portfolio value may be much higher due to cash And I think, by and large, we made the most practical decisions that were available to us. Theyre just very simple. Many of our systems are in the cloud. Charlie Munger at the 2021 Daily Journal annual meeting spoke once again at great length. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. Because of that fact, it's of the utmost importance for companies to maintain strong . They dont work that hard at figuring out what works and what doesnt. When you respond to software by the RFP process, its a very difficult, demanding business and its less profitable and less sure than what Microsoft does. Matthew Peterson of Peterson Capital Management presented his in-depth investment thesis on The Daily Journal Corporation (US: DJCO) at Best Ideas 2019. 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. Commission-free trading is not free. Currently, Daily Journal Corp's portfolio is worth at least $174 million. 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. Daily Journal Corporation Announces Financial Results for Fiscal Year ended September .. Daily Journal : Fiscal Q3 Earnings Snapshot. One of the great advantages of the way Berkshire operates is that we associate with a lot of marvelous people. 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. Is it Bitcoin, decentralized finance, or something else? The mantra he said over and over again is very simple. Nobody should believe that Robinhoods trades are free. Charlie Munger: Well, commission-free trading is a very good candidate for that if you want to emphasize disgusting-wise. You know, its just, its incredible whats happened in terms of the destruction. I never buy any and neither does Daily Journal. All text and design is copyright 2020 WhaleWisdom.com. What could investors do to cope better with periodical frenzy? And I think both of us have done the same thing; we just suck it in and cope. Question: In your past speeches, you have mentioned the term functional equivalent of embezzlement to describe situations where bubbles can form because both parties involved in a bubble believe the asset to be worth more than it truly is. I think that inequality is absolutely an inevitable consequence of having the policies that make a nation grow richer and richer and elevate the poor. But Henry was a genius. I think theyre probably right, by the way. And when things get as crazy as they were in the event youre talking about, there are threats of clearinghouse failure. Charlie Munger: Well, Lee Kuan Yew had the best record as a nation builder. Nothing is particularly obvious for everybody to do the same thing. the MV of securities sold, whichever is less, Communicated daily with internal traders and sales force, plus marketed globally to Buy-Side clients . Would you mind elaborating on how a professor or individual should go about building a curriculum around this approach? Thats interestingwho in the hell is voting against the accountants? divided by the total MV of the fund. Thats been greatly curtailed. Podcasts enable members to enjoy content in a convenient format. How do I update this listing? Questions: Many major businesses and high net worth individuals have been leaving California. Rick was part of the group which consisted of Warren Buffett, Rick Guerin, and Charlie Munger that bought control of Blue Chip Stamps when it was widely distributed in an anti-trust settlement. Question: Can you share some parting thoughts with the viewers who are watching all around the world? Im not trying to move mountains. Absolute insanity. You must have a subscription to view WhaleScore histories. 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. European Investing Summit And, I think Jack Ma was very arrogant to be telling the Chinese government how dumb they were, how stupid their policies were, and so forth. The only opinion I have there is that I dont think anybody knows whats going to happen for sure. 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. I expect that and I welcome it. SEC Form 13F Filing History. The IR Magazine Awards - US 2023 will take place on Thursday, March 30 in New York. With no analysts or investor relations department, few understand the transformation that has occurred. 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. I do think banking run intelligently is a very good business. He doesnt mind at all not getting credit for his charitable donations. One thing I can promise is that I wont contribute much to it because I dont understand it. The JTI software has been configured for other judicial and justice agencies, including district attorneys, prosecutors, public defenders, probation, etc. And they dont do that very wellIm talking about the business schools. Webcast. How would they think about current opportunities with low rates and low inflation? First Merchants Corporation to Report Fourth Quarter 2022 Financial Results, Host Conference Call and Webcast.

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