Charlie Munger Gave His Family Fortune To 'Chinese Warren Buffett' – He Flipped It Into $400 Million: 'Backed Up The Truck And Made A Killing' [Yahoo! Finance]
Daily Journal Corp. (S.C.) (DJCO)
US:NASDAQ Investor Relations:
dailyjournal.com
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Source: Yahoo! Finance
He handed almost $90 million of his family's fortune to a 38-year-old investor named Li Lu. At the time, Li was a rising star in the investment world, often called the "Chinese Warren Buffett." What followed was remarkable. That initial investment grew into about $400 million, showing just how successful that decision was. Don't Miss: Li Lu, the founder of Himalaya Capital, had a reputation for applying the value investing principles of Ben Graham, similar to Munger and Buffett. Instead of focusing on the crowded American market, Li turned his attention to Chinese stocks, where he saw immense potential. Munger once remarked, "We made unholy good returns for a long, long time," reflecting on the success of his decision to entrust Li with his family's wealth. Munger noted that the initial $88 million investment had grown four or five times. Trending: The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+
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News
- With 56% ownership of the shares, Daily Journal Corporation (NASDAQ:DJCO) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Charlie Munger Said 401(k) Plans Should Only Offer Index Funds – No Other Investment Options: 'It's The Logical Thing To Do' [Yahoo! Finance]Yahoo! Finance
DJCO
Sec Filings
- 11/12/24 - Form SC
- 11/4/24 - Form SC
- 10/11/24 - Form 13F-HR
- DJCO's page on the SEC website