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Many lists of the famous sayings of Charlie Munger are being shared after the investing legend's death at age 99.
The Daily Journal Corporation is a mini-Berkshire Hathaway operating newspapers in California and Arizona, overseen by Charlie Munger. DJCO has a strong investment portfolio, but shares are currently overvalued at over 2.0x P/BVPS. Concerns arise with succession planning as Munger recently stepped down as chairman; the author advises investors to be patient and wait for a pullback.
When rumors first began surfacing last year that Berkshire Hathaway ( BRK.A , Financial)( BRK.B , Financial) was trimming some of its stake in Chinese electric vehicle maker BYD Co. Ltd. ( HKSE:01211 , Financial), some investors worried that Charlie Munger (Trades, Portfolio) or Warren Buffett (Trades, Portfolio) might be turning bearish on the stock.
Highlights for the week ahead include public statements from Fed Chair Powell, anticipated earnings from Disney, jobless claim numbers, potentially some insights from Charlie Munger and more.
According to Ben Graham's value investment classic "The Intelligent Investor," the definition of a net-net is a company trading below its net working capital value. Warren Buffett re-coined the term, cigar butt, for having one puff left.
Daily Journal Corporation has done well to grow its new core business in recent years, creating real value for its investors. But the real value lies in the fact that the business has a significant portfolio of securities on its books.