Daily Journal Corporation (DJCO) Is All The Way Is All The Way Up by Mawunyo Adjei
In a time where newspaper publishers are struggling to gain their grounds, Daily Journal Corporation (NASDAQ:DJCO) is standing out. Daily Journal Corporation (NASDAQ:DJCO) mainly targets California and Arizona for its publications. The Los Angeles Daily Journal, the California Lawyer Magazine and the San Francisco Daily Journal are among its largest publications.
Chaired by a powerhouse in business, Charlie Munger is the chairman of the group. To have Charlie Munger on your board is a plus for any company because Mr. Munger would only join a company with growth potentials and whose board has great integrity. The vice president of Berkshire Hathaway is repeating Berkshire Hathaway’s success in Daily Journal Corporation (NASDAQ:DJCO). Warren Buffett’s sidekick may be creating a baby conglomerate at the legal publishing firm. Daily Journal Corporation’s (NASDAQ:DJCO) portfolio of stocks includes Wells Fargo, Bank of America Corporation, US Bancorp and POSCO. Mr. Munger who owns 50,000 shares of the company oversees the portfolio.
Daily Journal Corporation
The group is also involved in legal advertising of foreclosures as well as technology consulting. Daily Journal Corporation (NASDAQ:DJCO) has a market cap of $316million from $171million within the last 52weeks with a $227.75 in share price of each of its shares as at 21st September, 2016. They have an average trading volume of 2,595 shares per day up from 1,266shares since July, 2013.
FINRA reported that Daily Journal Corporation’s (NASDAQ:DJCO) short interests in September was 38,300 shares down from 39,600 shares in the previous report. Daily Journal Corporation (NASDAQ:DJCO) has risen 20.54% since February 12, 2016. It has outperformed by 5.83% the S&P500. The company is adapting to technological disruptions through its subsidiary Journal Technologies.
The publishing industry has been struggling in recent years. Tribune Publishing rebranded as Tronc whiles Gannett spun-off its business to include Tegna Inc. The firm’s earnings are currently not very encouraging and its largest non-affiliate holding Wells Fargo has being on the news of late for allowing fake bank accounts and certain malpractices. Apparently, Charlie Munger may be planning to invest the companies’ revenues in other non-affiliated stocks just like Warren Buffett did when he acquired textile manufacturer Berkshire Hathaway and invested its profits into other public companies thereby transforming Berkshire Hathaway into a $363billion conglomerate.
About the author
Mawunyo Adjei is a 21year old Investor Buying Behaviorist. He is a consultant to investment managers on their investing decisions rooted in impulse buying.