Munger's Daily Journal: Decisive Shift into Stocks

Daily Journal Corporation (DJCO) has had, to say the very least, substantial success with its investments in recent years.Daily Journal is a publisher based in Los Angeles that has been shifting its excess cash into stocks picked by Charlie Munger and J.P. Guerin.Charlie Munger is the non-executive chairman of Daily Journal and, of course, the vice chairman of Berkshire Hathaway. While better known for serving as Warren Buffett's business partner, he's also been more quietly serving as the chairman and a director at Daily Journal since 1977.J.P....

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What are the long-term prospects for Tesco Plc (LON: TSCO)?

I'm always searching for shares that can help ordinary investors like you make money from the stock market. Right now I am trawling through the FTSE 100 and giving my verdict on every member of the blue-chip index. I hope to pinpoint the very best buying opportunities in today's uncertain market, as well as highlight those shares I feel you should hold... and those I feel you should sell! I'm assessing every share on five different measures. Here's what I'm looking for in each company: 1. Financial strength: low levels of debt and other...

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Munger:"Cognitive Failure" in Economics

"Alan Greenspan at the Federal Reserve overdosed on Ayn Rand. Basically he kind of thought anything that happened in the free market, even if it was an axe murder, had to be ok. He's a smart man and [a] good man, but he got it wrong. Generally, an over-belief in any one ideology is going to do you in if you extrapolate it too hard, and that's what happened in economics."So, according to Munger, what caused this "cognitive failure" in economics?"They reasoned correctly that a free market would be way more predictive than anything else,...

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