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. The vice chairman of Berkshire Hathaway (BRKa.N) had previously praised the country's crackdown on Jack Ma's Ant Group
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