Charlie Munger’s Final Stock Portfolio Unveiled

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The late Charlie Munger, famed as Warren Buffett’s accomplice and the
brains behind Berkshire Hathaway, left an indelible mark on Daily Journal’s
stock portfolio. In the aftermath of Munger’s final bow, his legendary approach
to investing, defined by patience, discipline, and unwavering conviction,
echoes through the company’s last portfolio update.

The late Charlie Munger, luminary in Warren Buffett‘s orbit and vice
chairman at Berkshire Hathaway, passed away at the venerable age of 99 on
November 28, 2023. Munger’s indomitable legacy, intricately woven into newspaper
publisher Daily Journal’s financial
narrative, recently surfaced in the company’s last
portfolio update
.

Over his 45-year stint as board chair from 1977 to 2022, Munger not
only grew Daily Journal’s stock portfolio from scratch to $300 million but also
showcased his unparalleled knack for patience, discipline, and steadfast
conviction.

A Decade-Long Stillness Amid Market Turbulence

In the wake of the 2008 financial crisis, Munger demonstrated his
strategic prowess by steering Daily Journal’s investments into the tumultuous
waters of the stock market. The company’s first portfolio filing in the fourth
quarter of 2013 revealed stakes in financial giants like Bank of America, Wells
Fargo, US Bancorp, and even a dabbling in the South Korean steelmaker Posco.
Astonishingly, a decade later, Daily Journal clung to the exact same quantity
of shares in its key positions, a testament to Munger’s undeterred patience.

Munger’s Tactical Shuffle and the Chinese Bet

While the portfolio retained its stability, Munger did introduce a
significant shift. In a bold move, he placed his chips on Alibaba at the start
of 2021, quadrupling the bet by year-end. However, in a classic Munger move, he
swiftly reversed course, halving the wager the following quarter, signaling a
rare acknowledgment of a misstep. Notably, the hands-off strategy didn’t yield
universal triumphs, with Daily Journal’s Wells Fargo and US Bancorp positions
lagging behind the broader market.

BYD’s Shine and the Art of Unwavering Commitment

Munger’s selective touches weren’t without brilliance. An early
investment in Chinese EV maker BYD emerged as the saving grace, driving Daily
Journal’s unrealized gains. This calculated move allowed the company to realize
a remarkable 15-fold return on a $3.3 million bet in late 2021.

In essence, Munger’s financial legacy, etched in concentrated bets,
long-term vision, and impervious commitment, resonates through Daily Journal’s
enduring portfolio. As the ink settles on this financial odyssey, Munger’s
legacy remains a testament to the art of selective mastery and unyielding
poise.

The late Charlie Munger, famed as Warren Buffett’s accomplice and the
brains behind Berkshire Hathaway, left an indelible mark on Daily Journal’s
stock portfolio. In the aftermath of Munger’s final bow, his legendary approach
to investing, defined by patience, discipline, and unwavering conviction,
echoes through the company’s last portfolio update.

The late Charlie Munger, luminary in Warren Buffett‘s orbit and vice
chairman at Berkshire Hathaway, passed away at the venerable age of 99 on
November 28, 2023. Munger’s indomitable legacy, intricately woven into newspaper
publisher Daily Journal’s financial
narrative, recently surfaced in the company’s last
portfolio update
.

Over his 45-year stint as board chair from 1977 to 2022, Munger not
only grew Daily Journal’s stock portfolio from scratch to $300 million but also
showcased his unparalleled knack for patience, discipline, and steadfast
conviction.

A Decade-Long Stillness Amid Market Turbulence

In the wake of the 2008 financial crisis, Munger demonstrated his
strategic prowess by steering Daily Journal’s investments into the tumultuous
waters of the stock market. The company’s first portfolio filing in the fourth
quarter of 2013 revealed stakes in financial giants like Bank of America, Wells
Fargo, US Bancorp, and even a dabbling in the South Korean steelmaker Posco.
Astonishingly, a decade later, Daily Journal clung to the exact same quantity
of shares in its key positions, a testament to Munger’s undeterred patience.

Munger’s Tactical Shuffle and the Chinese Bet

While the portfolio retained its stability, Munger did introduce a
significant shift. In a bold move, he placed his chips on Alibaba at the start
of 2021, quadrupling the bet by year-end. However, in a classic Munger move, he
swiftly reversed course, halving the wager the following quarter, signaling a
rare acknowledgment of a misstep. Notably, the hands-off strategy didn’t yield
universal triumphs, with Daily Journal’s Wells Fargo and US Bancorp positions
lagging behind the broader market.

BYD’s Shine and the Art of Unwavering Commitment

Munger’s selective touches weren’t without brilliance. An early
investment in Chinese EV maker BYD emerged as the saving grace, driving Daily
Journal’s unrealized gains. This calculated move allowed the company to realize
a remarkable 15-fold return on a $3.3 million bet in late 2021.

In essence, Munger’s financial legacy, etched in concentrated bets,
long-term vision, and impervious commitment, resonates through Daily Journal’s
enduring portfolio. As the ink settles on this financial odyssey, Munger’s
legacy remains a testament to the art of selective mastery and unyielding
poise.



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