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Daily Journal Halves Stake in China’s Alibaba as Munger Retires

Daily Journal Corp, the company where Warren Buffett’s business partner Charlie Munger helps oversee investments, said on Monday it halved its stake in China’s e-commerce giant Alibaba Group

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Daily Journal's long-time chairman Charlie Munger walks past a crowd at the annual Berkshire Hathaway shareholder shopping day in Omaha, Nebraska, on May 3, 2019. Munger, 98, stepped down recently as Daily Journal chairman. File photo: Scott Morgan, Reuters.


Daily Journal Corp, the publishing and software company where Warren Buffett’s business partner Charlie Munger helps oversee investments and until recently was chairman, on Monday said it halved its investment in Chinese e-commerce giant Alibaba Group Holding Ltd.

In a regulatory filing, the Los Angeles-based company said it owned 300,000 of Alibaba‘s American depositary shares (“ADS”)worth $32.6 million as of March 31, down from 602,060 shares at the end of 2021.

The reduction essentially reversed Daily Journal’s trading activity in last year’s fourth quarter, when its Alibaba stake nearly doubled in size.

The price of Alibaba‘s ADS has fallen 15% this year, and 68% from its October 2020 peak.

Daily Journal did not immediately respond to a request for comment. The company publishes newspapers and provides software to courthouses.

Munger, 98, had been Daily Journal’s chairman for 45 years before stepping down last month.

Daily Journal said he would remain a director and focus on matters he has worked on, including its securities portfolio. Munger is better known for his work at Berkshire, where he has been vice chairman since 1978 and helps the 91-year-old Buffett allocate capital.

Long bullish on China, Munger spearheaded Berkshire’s approximately 7% stake in electric car maker BYD Co.

At Daily Journal’s annual meeting in February, Munger lamented recent deterioration in relations between the United States and China.

“They should like us and we should like them,” he said.

Most of the rest of Daily Journal’s securities portfolio is in Bank of America Corp, which is also a major Berkshire investment, and Wells Fargo & Co.


• Reuters with additional editing by Jim Pollard



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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.


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