valueinvesting101 Posted February 11, 2014 Share Posted February 11, 2014 http://www.bloomberg.com/news/2014-02-11/munger-s-daily-journal-discloses-stakes-in-bofa-wells-fargo.html Link to comment Share on other sites More sharing options...
FiveSigma Posted February 11, 2014 Share Posted February 11, 2014 Any news about this year's AGM? Link to comment Share on other sites More sharing options...
cubsfan Posted February 11, 2014 Share Posted February 11, 2014 Any news about this year's AGM? Someone I know talked to the CFO - and until the filings are done, which may be several weeks, there won't be a meeting scheduled. Link to comment Share on other sites More sharing options...
cubsfan Posted February 13, 2014 Share Posted February 13, 2014 Update on filings: http://www.bloomberg.com/news/2014-02-12/buffett-s-pal-munger-heads-a-very-weird-company.html Check out CEO's Salzman's job functions. Link to comment Share on other sites More sharing options...
ECCO Posted February 13, 2014 Share Posted February 13, 2014 Is there a way to know when or the price they have paid when they bought WFC and BAC? Link to comment Share on other sites More sharing options...
gfp Posted February 13, 2014 Share Posted February 13, 2014 He basically bought the Wells stock at the low tick in 2009. Probably bought the BAC around the time Warren did, but I don't know. Link to comment Share on other sites More sharing options...
rogermunibond Posted February 13, 2014 Share Posted February 13, 2014 BAC was lowish too in the first q of 2012, not quite the low tick. Link to comment Share on other sites More sharing options...
Grenville Posted February 13, 2014 Share Posted February 13, 2014 Is there a way to know when or the price they have paid when they bought WFC and BAC? All the info is now there for you to figure it out. Just look at the 10Q's, they disclose the cost base. Link to comment Share on other sites More sharing options...
brker_guy Posted February 13, 2014 Share Posted February 13, 2014 ECCO, Charlie bought these bank positions back in 2009 time frame. He bought most of his BYD positions in the summer of 2012. I have been going to the DJCO annual meeting since 2009, and someone asked Charlie at the 2010 AGM as to how long it took him to decide to buy WFC, BAC and USB. He quickly responded "2 seconds to come to that conclusion to those securities". We were all guessing at that time that it was only WFC and BAC. We are correct now, but I am glad to see he also bought USB. Since he has added Posco into DJCO's holdings, you can take a guess as who helped Warren bought the Posco stake in the Berkshire portfolio a few years ago. Charlie's influence on Warren mental model is pretty deep. brker_guy Link to comment Share on other sites More sharing options...
racemize Posted February 25, 2014 Share Posted February 25, 2014 I remember when I first went to the DJCO's annual meeting, there was only 15 of us in a tiny conference room, and we would get Charlie all to ourselves for 2 solid hours. Next year, it will be a zoo, thanks to Sanjeev and this forum, not to mention the aforementioned Bloomberg article. ;-) Are there any notes available other than the 2013 one? Not finding any online. I'd like to add it to my Munger compilation. And I'll once again request for anyone who's got the Munger partnership letters, it's one of the only things I'm missing... Link to comment Share on other sites More sharing options...
fareastwarriors Posted April 17, 2014 Share Posted April 17, 2014 I'm sure there has to be some talk regarding succession issues. Anything to share? Link to comment Share on other sites More sharing options...
OracleofCarolina Posted May 12, 2014 Share Posted May 12, 2014 8-K filed today http://www.sec.gov/Archives/edgar/data/783412/000143774914008702/ex99-1.htm no annual meeting date yet and the 13F-HR filed today shows no changes in the holdings Link to comment Share on other sites More sharing options...
brker_guy Posted June 19, 2014 Share Posted June 19, 2014 Wow! DJCO is about to cross $200 per share mark. Link to comment Share on other sites More sharing options...
fareastwarriors Posted June 19, 2014 Share Posted June 19, 2014 Wow! DJCO is about to cross $200 per share mark. Yes...it went on an absolute tear the last month or so... Link to comment Share on other sites More sharing options...
Vish_ram Posted December 31, 2014 Share Posted December 31, 2014 why did this go up so much today? wow. I noticed that Roseman Wagner Wealth Management owns 17%. This firm is interesting. All they own is msft, brk, djco, wmt and ko. Link to comment Share on other sites More sharing options...
benhacker Posted December 4, 2015 Share Posted December 4, 2015 Is there anyone on here who is long DJCO? Would love to hear why? Seems tremendously overvalued and very easy to value or hedge. But that has been the case for a while, curious if I am missing anything. Link to comment Share on other sites More sharing options...
fareastwarriors Posted December 4, 2015 Share Posted December 4, 2015 The Munger premium? Link to comment Share on other sites More sharing options...
benhacker Posted December 4, 2015 Share Posted December 4, 2015 The Munger premium? Hence my comment about hedging, the portfolio is disclosed (or nearly completely disclosed)... not clear to me why a transparent portfolio that you can copy would trade for such a premium. (certainly some premium could exist) But again, it has for a while. Link to comment Share on other sites More sharing options...
Picasso Posted December 4, 2015 Share Posted December 4, 2015 There isn't a lot of liquidity in DJCO. Last time I priced shorting a stub the bid/ask was like 6%. Sometimes the spread gets really wide and maybe it makes sense to do it then. Link to comment Share on other sites More sharing options...
Guest notorious546 Posted December 14, 2015 Share Posted December 14, 2015 Risks Associated with Our Holdings of Marketable Securities A large portion of the Company’s assets is held in publicly traded securities, and the prices of those securities may decline. As of September 30, 2015, the Company held marketable securities worth approximately $166,041,000, with an unrealized gain for financial statement purposes of $111,498,000. While this portfolio has enabled the Company to borrow on very favorable terms for the New Dawn and ISD acquisitions and to better compete for case management software opportunities that are usually limited to “large” firms, it is unusual for a public company to invest a significant amount of its available cash in the marketable securities of other public companies. The value of these securities could decline, which would adversely affect shareholders’ equity. Also, as of September 30, 2015, the Company’s holdings of marketable securities were concentrated in just seven companies and included two based in foreign currencies. Accordingly, a significant decline in the market value and unfavorable changes in the foreign exchange rates of one or more of the Company’s holdings may not be offset by hypothetically better performance of other holdings. This concentration of risk may result in a more pronounced effect on shareholders’ equity. http://www.sec.gov/Archives/edgar/data/783412/000143774915022202/0001437749-15-022202-index.htm We know munger holds BAC, USB, WFC, PKX. What are the remaining three? Link to comment Share on other sites More sharing options...
wabuffo Posted December 15, 2015 Share Posted December 15, 2015 one of the securities is the bonds of a US company purchased in 2009, the other two are foreign-issued equity securities (and, well there's this from the 10-K): The fair value of the foreign marketable security held in South Korean Won was $8,694,000, and the adjusted cost was $10,977,000 as of September 30, 2015.... The fair value of the foreign marketable security held in Hong Kong Dollar was $26,355,000, and the adjusted cost was $9,697,000 as of September 30, 2015. wabuffo Link to comment Share on other sites More sharing options...
brker_guy Posted December 15, 2015 Share Posted December 15, 2015 The one in Hong Kong Dollar is BYDDF. Link to comment Share on other sites More sharing options...
DollarKing Posted December 16, 2016 Share Posted December 16, 2016 From this year's 10-k The Company holds foreign marketable securities based in South Korean Won and Hong Kong Dollar that are subject to risk associated with changes in the exchange rates of these currencies against the United States Dollar. The fair value of the foreign marketable security held in South Korean Won was $12,667,000 with an adjusted cost of $14,810,000 and $8,694,000 with an adjusted cost of $10,977,000 as of September 30, 2016 and 2015, respectively. The exchange rate of the South Korean Won against the United States Dollar was $0.00091 and $0.00084 at September 30, 2016 and 2015, respectively. The fair value of the foreign marketable security held in Hong Kong Dollar was $32,814,000 with an adjusted cost of $9,697,000 and $26,355,000 with an adjusted cost of $9,697,000 as of September 30, 2016 and 2015, respectively. The exchange rate of the Hong Kong Dollar against the United States Dollar was $0.12893 and $0.12903 at September 30, 2016 and 2015, respectively. Anybody know what was the Korean stock purchased? (The extra $3,833,000 Korean stock purchase between 1st Oct - 31st Dec 2015, with the corresponding values now at DJCO fiscal year end, shows it can't be Posco) Link to comment Share on other sites More sharing options...
aceskc Posted December 19, 2016 Share Posted December 19, 2016 Is it Posco PKX? Link to comment Share on other sites More sharing options...
wabuffo Posted December 19, 2016 Share Posted December 19, 2016 Is it Posco PKX? I don't think so. Since the second buy, its last 4 quarter-end closing prices (005490.KS) converted from KRW to USD don't match the change in quarter-end fair value (in USD) of the Korean holding in DJCO's portfolio. wabuffo Link to comment Share on other sites More sharing options...
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