The death tax in China is zero. Prior to forming Peterson Capital Management, LLC and launching Peterson Investment Fund I, LP, Matthew split time between Wall Street and London as Capital Markets Manager in the Financial Services Vertical at Diamond Management and Technology Consultants. Question: How important is the analysis of company culture in the investment process? I dont think Ive got any great insight about hydrogen. But they dont teach that in the psychology department because the academic system rewards little experiments that develop more insight into psychological tendencies instead of synthesizing whats already been discovered with the rest of knowledge. Value investors know Warren Buffett's classic retort to efficient market theory, "The . Im afraid thats the way we all have to leave our swords. No, I dont think I have anything to contribute. And, of course, when things get extreme you have things like that short squeeze. Charlie Munger at the 2021 Daily Journal annual meeting spoke once again at great length. [2]: And in biology, what happens is the individuals all die, and eventually, so do all the species. What happens is that every human being tends to believe way more than he should in what hes worked hard to find out or where hes announced publicly that he already believes. Charlie Munger: Modern monetary theory means that people are less worried about an inflationary disaster like Weimar Germany from government printing of money and spending it. -, 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. 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. 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. Everyone knows this isnt a small cap Berkshire Hathaway. But its hard for anybody. Charlie Munger: Its very hard to have a shrinking business. DJCO | Daily Journal Corp. Company Profile & Executives - WSJ Charlie Munger: Im sure some are, but, by and large, thats not what Warren is known for. Question: What would management [of Daily Journal] do with a sudden windfall of profits? Question: What have you done to live such a long life? And we cant go to many offices because theyre closed. 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. Is it digital wallets like PayPal, Square, or Apple Pay? containing a link to download the .zip file of the CSV file(s) you requested. Matthew has over a decade of experience with global financial services firms including Goldman Sachs, Morgan Stanley, Merrill Lynch, American Express, and Ameriprise Financial. Discover something new every day from News, Sports, Finance, Entertainment and more! All text and design is copyright 2020 WhaleWisdom.com. 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. As a matter of fact, what happens is to make a nation rich, you need a free market system. I think were into a lot less travel and a lot more Zooming. 2/24/23. New species are created and old species are dying. However, could you be more specific? And what did the Chinese communists do with respect to death taxes? I said it wont matter. I dont follow that practice but I dont criticize it either. We were together in that for a long, long time, and then Rick and I did the Daily Journal together on another occasion. Charlie Munger: Well, the one charitable institution where I have had some influence for a very long time has a whole bunch of hotshot financiers in every branch of wealth management there is on the board. DAILY JOURNAL CORPORATION - Print Media - 915 E 1st St, Los - Yelp Question: Mr. Munger is a champion of Chinese stocks. Daily Journal Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more. Question: Do you believe the market is going through a long-term value slump similar to 1999, or do you believe technology has caused a permanent change in how companies should be valued? The member publications, including The Manual of Ideas, have won acclaim for their depth, originality, and breadth of perspectives. But show me a psychology department that knows how to do that. He was old as I am. I dont think its easy for ordinary people to become great investors. Iovance Biotherapeutics Reports Fourth Quarter and Full Year 2022 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. But theres no rule that life has to be easy on the mental side. Role of Investor Relations - Corporate Finance Institute When people gave me a good idea and I could see it was a good idea, I quickly mastered it and started using it for the rest of my life. And they dont just keep everlastingly at it the way he did. That doesnt happen. Of course, its going to be difficult. Thats true whether youre Benjamin Franklin or Joe klutz. Voir plus Voir moins Financial Analyst PaineWebber, Inc - UBS fvr. I know Berkshire is a long-term owner and rarely sells securities of high-quality companies it owns in its portfolio simply because its overvalued. And, of course, what Im saying is that if I were teaching business I would start the way Harvard Business School did a long time ago. Charlie Munger: Well, the people doing the computer software are doing magnificently wellthe people under Gerry: Maryjo and Danny. Question: Do you believe any psychological personality tests, such as the Myers-Briggs Type Indicator, to be of any good in choosing a compatible partner, given that choosing a spouse is probably the most important decision one can make in life. Do it right the first time. I think people have the theory that any intelligent hardworking person can get to be a great investor. If you were offered a fresh start today, what would you do differently in life and in investing? +2.68%. If anybody can fix it, he can. I think the bankers of today could learn a lot from Eugene, but little is known of him. to see more advanced email alert options such as selecting any type of Moody's Corporation to Present at Investor Conferences If I had stayed in Omaha, where I was raised, and gotten into the banking business, I would have been a hell of a good banker. 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 And we probably have more of those shortcuts than others. We got a dividend of two and a half million shortly thereafter. 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. Question: If you had a chance to make an addition or revision to Poor Charlies Almanac, what would that be? This is cheap compared to Tesla currently valued at over 1100 times P/E and 24 times sales. Published since 1917, the Daily Commerce is based in Los Angeles and covers news of general interest, columns of interest to real estate investors and brokers, and information on distressed properties in Los Angeles County. It also serves as a newspaper representative specializing in public notice advertising. Daily Journal Corps portfolio is diversified across 3 sectors. 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. So, you can understand why Warren got disenchanted with Wells Fargo. Its just that some people look for values in strong companies and some look for values in weak companies. I think when difficulty comes, I expect to have my share. The Knowledge Moat: Keeping Competitors Out Through Ability, Constellation Software: Incentive Systems and Return Constraints. The majority of revenue is generated from Traditional business segment. 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. What are the psychological implications of this type of market behavior? Question: Ben Franklin said: Were it offered to my choice, I should have no objection to a repetition of the same life from its beginning, only asking the advantages authors have in a second edition, to correct some faults of the first. Corporate Governance. And do you and Warren have any tricks or shortcuts to size people up quickly and accurately? And I think the world would be better off without them. All rights reserved. Nasdaq provides companysSEC filings, which arefinancial statements andreports filed electronically with the U.S. Securities and Exchange Commission (SEC) byQuotemedia. Mitch Gellman - Investor Relations & Strategic Adviser - LinkedIn All-Time Favorites We have offices in all the major cities in California and also in Logan, Utah. Charlie Munger: I think Ill skip that one. Give me a new question. And so, we cant promise were going to succeed. No, I dont have any secrets. One thing I can promise is that I wont contribute much to it because I dont understand it. We take the situation as it is and try to solve it. Charlie Munger: Well, I cant top Lee Kuan Yews example. DJCO | Daily Journal Corp. Annual Income Statement | MarketWatch On December 18, 2020the record datethere were 1,380,746 shares of common stock of the company outstanding. Daily Journal Corp. (S.C.) Common Stock (DJCO) - Nasdaq But, of course, I think there will be more automation in transportation of all kinds in the future. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The daily journal stock sells way above the price I would pay if I was buying new stock. Charlie Munger: I dont have any wonderful new thoughts. It was an accident. Announces 2022 Holiday Period Net Sales, Updates Fourth Quarter Outlook. Always intelligent. Charlie Munger: Well, I so rarely hold a company like BYD that goes to a nosebleed price that I dont think Ive got a system yet. Of course, people behave more sensibly when theyre spending their own money. They are joining the modern world very rapidly and theyre getting very skillful at operating. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. DAILY JOURNAL CORP Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-K) AQ. That happystat has more to do with their happiness and their outcomes in life. I find that by working at that, I can actually make some improvements even though Im old. Investor Letter Excerpts Im pretty easy on myself these days. Ideaweek Podcast USD. And they dont do that very wellIm talking about the business schools. Question: I was wondering if you could share some thoughts on Haven, particularly why it was ultimately closed. And thats the right way to do it. And thats the way we handled Gerry. Theres a lot of competition and were a very small company compared to our main competitor. I think most people are born with a happystat. And he was just so good. Question: What is the wisdom behind holding bank stocks compared to other stocks. Charlie Munger: I dont think you can make that a moral responsibility. Advisory, processing and support for complex transactions, including M&As, IPOs and stock splits. This information can be used by investors to verify and understand the financial position of the company. Members also enjoy preferential access to selected offline events as well as exclusive access to other events hosted by MOI Global, including the Zurich Project Summit, the Latticework Conference, and Ideaweek. All except for the legal advertising system which we had to build because nobody else has the volume that we have. Youve said recently that Sequoia is the greatest investment firm ever. Generally, what people do is they have financial reserves so they have some options if trouble comes, and they adapt the way Gerry has to require downsizings or require upsizings. I knew a man once, Henry Singleton, who was not a chess champion. However, is there a price too high that the companys future profits simply cannot justify? He was very amiable the way he talked about it. I kind of admire the way Bill takes on these very hard problems. Investor Relations (IR) combines finance, communication, and marketing to effectively control the flow of information between a public company, its investors, and its stakeholders. And I just think it was academically inconvenient for them. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Well, I dont think the quality of publishing public notice advertising has gone down. Investor Relations Daily Journal Corp DJCO Valuation Morningstar Rating | Rating as of Jan 26, 2023 Quote Chart Stock Analysis News Price vs Fair Value . Everybody is. Once again, the wit and wisdom of Charlie Munger was on full display at the deceptively youthful age of 97! In-person events hosted by MOI Global bring together inquisitive minds to explore ideas of consequence in investing, business, and life. Quotemediais not affiliated with or approved by the U.S. Securities and Exchange Commission. European Investing Summit We cant promise what the outcome will be but we are trying pretty hard and we get some favorable impressions of progress. If youre willing to count small nations in the group, he had probably the best record that ever existed in the history of the world. We bought all these buildings cheaply. We paid two and a half million for it. Kimberly Stewart - Head of Investor Relations - LinkedIn 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 . And would the Daily Journal consider Bitcoin or any other cryptocurrency as an asset on the balance sheet similar to what Tesla recently did? Timeless Selections And, of course, its going to create trouble as it did. In recent years, The Manual of Ideas has expanded to become more than simply the very best investing newsletter on the planet (Mohnish Pabrai). Daily Journal Corp publishes newspapers and web sites covering California and Arizona and produces several specialized information services. But, but by and large, most of the knowledge has been available for a long time. Charlie Munger: Well, he was one of my closest friends for many decades. Practically everybody does that. And I think both of us have done the same thing; we just suck it in and cope. My guess is we have suffered some editorial quality. Billionaires Group Can you speak to the causes, the trend, and make some predictions? So, Im kind of pleased that Im still functioning at all. Question: You and Warren have been adept at quickly sizing people up, particularly business leaders and potential business partners. Gerald Salzman: Well, we dont think about mistakes. Always on point. What I think is interesting about chess is, to some extent, you cant learn it unless you have a certain natural gift. If you stop to think about it, business success long term is a lot like biology. Zurich Project Podcast And my advice would be if you have a fixable disadvantage, remove it. Apartments have come through better. 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? I think most people who are assuming tolerable success in life are about as happy as they were ordained to be. What do you think of all of the SPACs and the promoters pushing them? 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. I dont think I can teach you how to retroactively get a new accident yourself. Many of our systems are in the cloud. I expect that and I welcome it. Charlie Munger: Well, these things do happen in a market economy. Of course, that history is useful to know. 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. They lose their money fast enough. Titan International, Inc. - Investor - Contact The Zurich Project This years annual report suggests that the traditional business has 97 full-time employees. Think of whats died in my lifetime. Stocks with a size of more than $10 billion in market cap make up First Merchants Corporation (FRME) Stock Price, Quote & News - Stock Thats the nature of capitalism. It says that man is too soon old and too late smart. The directors are Gerry Salzman, Peter Kaufman, Mary Conlin, Gary Wilcoxwhos retiring nowand myself. They manage There are currently 4 companies in Mrs. Tos portfolio. Question: Eugene Abegg seems like he was one of the best bankers of the last century, achieving both extremely low loan loss rates and earning around 2% on assets over a long time period. Nobody should believe that Robinhoods trades are free. Question: Should there be a tax on buying stock now that Robinhood trades are free? Communicated daily with internal traders and sales force, plus marketed globally to Buy-Side clients . And like last year, you will in this note find a full transcript of the entire meeting. We all live with that problem. Our editorial system and our advertising system are all in the cloud. Gerald Salzman: There are a number of factors that come into play here. Charlie Munger: Well, I think all stocks can fluctuate. I think office buildings are now in some trouble and, of course, commercial real estate rented to stores has been in a lot of trouble for a long time. The Manual of Ideas Charlie Munger: Well, of course, the places downsized. 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. But I wont be following him. Charlie Munger at the 2021 Daily Journal annual meeting spoke once again at great length. You must have a subscription to view WhaleScore histories. About the awards. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. We made the rich richer, not as a deliberate choice, but because it was an accidental byproduct of trying to save the whole civilization. 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 The editorial team seeks out thought-provoking insights and variant perspectives from across the membership network and beyond. Charlie Munger: Well, it helps to be able to leave the IQ test early with the highest score. He was a one party system but he could always be removed by the electorate. So, I think for some folks, early-stage investing is best, and for other folks, what Ive done in my life is best. But he was 90 years of age. We do, as Charlie indicates, have a lot of travel. 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. Get the latest articles and insights directly to your email inbox. Furthermore, hed gone through the Great Depression. Im just learning as I go along. If you have unrealistic expectations, youre going to be miserable all your life. Eli Lilly's press statement said it's slashing prices to make insulin more accessible, and then flipped the onus onto . I would be curious to know how you started your interest in Singapore and Lee Kuan Yew. Daily Journal Corporation Touch device users, explore by touch or with swipe gestures. Daily Journal Corporation Announces Financial Results for the Six Months ended March 31.. Daily Journal : Announces New Chairman and CEO - Form 8-K. Daily Journal Corp : Change in Directors or Principal Officers, Financial Statements and E.. Daily Journal Corporation Announces New Chairman and CEO, Daily Journal : Fiscal Q1 Earnings Snapshot. Were not enlarging it. For example, Coca-Cola in the past.

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