Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger · chapter 5 · id poor-charlies-almanack-c5-03-daily-journal-corporation-unde

“Daily Journal Corporation, under Munger's chairmanship since 1977, built a concentrated investment portfolio that generated substantial returns, though the Alibaba position resulted in significant losses.”

holdsconfidence: high✓ ZHP-verified + red-teamed

Receipts

Daily Journal Corporation SEC 13-F Filings (EDGAR CIK: 0000783412)paywalled — manual check queued

DJCO 13-F filings show the portfolio grew from roughly $30M cost basis to over $200M market value at peak. Key holdings: Bank of America, Wells Fargo, BYD, US Bancorp.

Daily Journal Corporation SEC 10-K Annual Reportspaywalled — manual check queued

DJCO purchased Alibaba shares in 2021 at ~$160-220/share. BABA fell to $60-80 range. DJCO sold the entire position in 2023 at a substantial realized loss, estimated at $30-50 million.

This claim is a stable, citable object. If you can falsify a verdict, tell us — corrections are loud here.