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Munger’s Daily Journal Surprisingly Bolstered its Stake on Alibaba by 83% Alibaba Last Quarter

Munger’s Daily Journal

Charlie Munger applied Warren Buffett’s investor advice to “be greedy when others are fearful” by doubling down on Alibaba stock while others exited the online commerce giant.

Source: Markets Insider

Alibaba up +7.91%

Daily Journal, owned and managed by Munger, bolstered its Alibaba ownership by 83% to over 300,000 shares in Q3. The move marked its only addition to its US stock investment since the end of 2013.

Munger invested $40 million into Alibaba in the first quarter and likely invested another $25 million last quarter depending on the stock’s average closing price in the period.

Meanwhile, Alibaba’s US-listed shares have sharply fallen nearly 40% this year after the Chinese government’s crackdown on technology companies.

As of June 30 this year, Daily Journal had invested in only nine stocks, valued at $350 million. It held Bank of America, Wells Fargo, US Bancorp, and South Korean Steelmaker Posco.

Munger has largely invested in American companies such as Coca-Cola and Costco in his entire career, making his best on Alibaba is surprising.

Michael O’Rourke Cautions Investors To Back Away from Tech Stocks in Favor of Banks

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