Charlie Munger's Final Stock Portfolio Unveiled

<p>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.</p><p>A Patience-Infused Financial Tapestry</p><p>The late Charlie Munger, luminary in <a href="https://www.financemagnates.com/tag/warren-buffet/" target="_blank" rel="follow">Warren Buffett</a>'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 <a href="https://www.sec.gov/Archives/edgar/data/783412/000143774924001453/xslForm13F_X02/F13InfoTable_64826.xml">last
portfolio update</a>. </p><p>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.</p><blockquote><p lang="en" dir="ltr">A titan of business and keen observer of the world around him, Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. He will be sorely missed. Rest in peace Charlie. <a href="https://t.co/vNGDktOAhz">pic.twitter.com/vNGDktOAhz</a></p>— Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1729649826013343844?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote><p>A Decade-Long Stillness Amid Market Turbulence</p><p>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.</p><p>Munger's Tactical Shuffle and the Chinese Bet</p><p>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, <a href="https://www.financemagnates.com/terms/h/halving/">halving</a> the wager the following quarter, signaling a
rare acknowledgment of a misstep. Notably, the hands-off strategy didn't <a href="https://www.financemagnates.com/terms/y/yield/">yield</a>
universal triumphs, with Daily Journal's <a href="https://www.financemagnates.com/tag/wells-fargo/" target="_blank" rel="follow">Wells Fargo</a> and US Bancorp positions
lagging behind the broader market.</p><p>BYD's Shine and the Art of Unwavering Commitment</p><p>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. </p><p>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.</p>

This article was written by Louis Parks at www.financemagnates.com.