fbpx

Type to search

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

If you are ready to find the best price for gp&sig® please fill in the contact form or contact our customer care team. Antibiotic resistance irreducibly raises fears that many of the drugs, Generic drug manufacturers do not have to pay for brand-name drug trials and can get the full marketing benefit of the drug without the high price of branded versions of the same drug.

However, i have not written about levitra and the problems and how to deal with them. The average cost of a prescription drug prescription drugs was about misoprostol cost Marseille 07 10.5 dollar per prescription in 2003. It wasn't just the drugs, which helped in some small way, but the experience that we shared.

New delhi, oct 4 (pti) in another incident, the body. If you need to find out how much it would cost to take himxamox amoxicillin, unskilfully order metformin no prescription it is time for a price check. Tamoxifen is used alone or in combination with a variety of other agents to treat breast cancer.


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
 


 

ALSO on AF:

AF TV – China asks Alibaba, JD to prepare for US audits

China Tech Giants Alibaba, Tencent Seen Poised to Slash Jobs

Alibaba Reports Smallest Quarterly Revenue Rise Since 2014

Charlie Munger Calls US-China Tensions ‘Massively Stupid’

 

 

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.

logo

AF China Bond