Charlie Munger Just Bought Alibaba Stock: Should You?
Many investors follow Warren Buffett's every move, but many also pay close attention to his longtime partner and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) Vice Chairman Charlie Munger. Munger, 97, is still active in the investing world, not only through his activities at Berkshire, but also as chairman of the Daily Journal Corporation (NASDAQ: DJCO).
Munger bought the Daily Journal decades ago when he was still running his own investment fund, for just $2.5 million. After his fund dissolved, Munger distributed shares to his partners, but he still owns around 3.6% of the company, now valued at a whopping $455 million.
One interesting feature of the Daily Journal, which historically published a legal newspaper and more recently began selling courthouse software, is that it takes cash flow from its core businesses and reinvests it into equities, mostly large U.S. banks.
Source Fool.com
