Charlie Munger's Daily Journal nearly doubles stake in China's Alibaba

Reuters2022-01-05

Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett's longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.

The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.

Munger, 98, has long been bullish on China.

Alibaba's U.S.-listed shares had in 2021 lost more than 48% of their value.

On Tuesday, the shares pared losses and closed down 0.7% at $119.56.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Vincenttt
    2022-01-05
    Vincenttt
    Base on his age, status and experience of Charlie Munger, he can definitely be trusted. The older he grows the more fearful he is, he also has better first hand information than anyone else so is worth to trust him. However is just a matter of time only the price will sure back to normal as it was before. Secondly, he bought the shares again just perhapsto average out and will make bigger profit when it shoots up. Alibaba can say is the largest firm listed in US, if it is delisted, surely no Chinese firm will exist in US stock market so is  it possible to come to such a plight? Unless 3rd world war is coming soon……
  • Aivern
    2022-01-05
    Aivern
    Lol he is 98, it doesnt matter if it blows up, besides, he is using his spare change. Are you?
  • luckyone
    2022-01-05
    luckyone
    Follow in his footsteps? 
  • Toby_Chua
    2022-01-05
    Toby_Chua
    Penny change for him to scoop up baba 
  • Bspn
    2022-01-05
    Bspn
    Ok
  • Jialatsia
    2022-01-05
    Jialatsia
    Meep
Leave a comment
96