저자: NeilDenize · 외국인
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찰리 멍거가 이끄는 Daily Journal 포트폴리오가 알리바바(BABA)를 신규 매수해 포트폴리오의 19%를 차지했다는 소식을 다룬 영상이다. 포트폴리오 개요: 미국 내 5개 종목 중심의 집중 포트폴리오이며, 이번에 알리바바를 주당 226달러에 165,320주 매수해 약 3,700만 달러 규모다. 다른 슈퍼투자자 보유 현황: 알리바바를 보유한 슈퍼투자자가 11명이며, Greg Alexander가 약 9% 비중으로 60만 주를 보유 중이다. 반면 Li Lu는 2020년 2분기에 알리바바를 전량 매도해, 멍거의 매수와 대비된다고 언급했다. Matthew Peterson의 Manual of Ideas 발표 요약: Daily Journal을 2021년 최고 아이디어로 제시했다. 신문사업은 가치를 0달러로 보며, 투자 포트폴리오와 Journal Technologies(2030년 반복매출 1억 달러 목표)를 핵심으로 봤다. 밸류에이션 및 재무: PER 약 8.9배로 업종 평균(23.4배)보다 낮고, PBR 2.2배로 업종과 비슷하다. 부채는 있지만 재무구조는 건전하며 배당은 하지 않는다. 지배구조 리스크: 부회장 Gerald Salesman이 2020년 말까지 지속적으로 지분을 매도한 점을 우려 요인으로 짚었다. 내부자 보유 23%, 일반 35%, 기관 40% 수준이다. 영상 결론: 유튜버는 Daily Journal 분석이 쉽지 않다며 추가 분석 의향을 밝혔고, 시청자 의견을 요청했다.
다듬은 글
welcome back so we're going to be looking at the latest big news out of the daily journal corp um which is where charlie munger manages a small portfolio within the daily journal and he sits on the board of directors with the daily journal and there's been some big news that's just come out which is brought to my attention from another youtuber investing with frank i highly recommend you go over and check out some of the videos that frank's been doing um great sort of value-based investing videos and he brought to the attention just yesterday this big announcement made by charlie munger and he's brought a position quite a large position within the portfolio um with alibaba so that's what we're going to be digging in today also look around the daily journal as well and look at the manual of ideas pitched by matthew peterson as well so we'll finish up with that and just quickly have a quick look over the daily journal as well so we're not going to be digging deep on to alibaba or anything like that like i said i'm not super familiar with the daily journal or alibaba this is just a brief sort of overlook on what's happened here with the latest announcement made by charlie munger so let's dive straight into it so this is charlie munger's portfolio within the daily journal course there's a very concentrated portfolio we can see here only five positions this is in the us they do have a couple of positions outside of the us which we'll touch on later but here we can see the latest position coming in at 19 percent and that's alibaba so he bought 165 320 shares um with a reported price of 226 dollars giving it a total value of just over 37 million there so this is big news for charlie mung or anyone that follows this particular fund here is because nothing usually happens here you know you look at every 13f and literally that's all that's there so it's quite big news to have something happen and change within this portfolio so that's what we're digging into today i'm looking at looking at a little bit closer but i'm going to be looking more at the daily journal because to be honest it's not something i've really looked at too much before or even alibaba for that matter so just going to be briefly touching on a few different interesting things around alibaba and also the daily journal so if we look at data roma still we're going to look at how many other super investors currently hold alibaba in their portfolio as well so we're just going to scroll down here and have a quick look who else is holding alibaba currently so we can see here at the top there's currently 11 other super investors that hold alibaba within their portfolio and we'll just scroll down and have a quick look who those other value investors are so here are the top 11 other investors that hold alibaba within their portfolio obviously big dog charlie munger coming in at the top and that's 19 so he has pretty good conviction you would think with holding that sort of amount within his portfolio bear in mind it is still quite a small portfolio it's only around 200 million which is still huge for me and you but for charlie munger you know it's probably still quite small amount um but still definitely something to take note of and that's for sure so he holds like i said 19 um there greg alexander coming in at just uh showed that nine percent there with 600 thousand shares with alibaba looking through the let's see i'm not super familiar with a few of these other um super investors here if there's anyone on this list that you like yeah you got to follow him definitely drop in the comments below um you know the supervisor that you you're sort of keen on twitty brown i do look at the twitty brown um but they have more of a i think the portfolio has around 30 or 40 different positions in it but they have a small position as well coming in at 26 000.
so it's not a huge position in their portfolio so let's just dive in and have a quick look if anyone's been sort of selling uh data aroma i mean sorry alibaba so let's just scroll down the list so this is this is what i found interesting as well so lilu which is the only um fun manager that what charlie munger's ever trusted anyone to invest his money um he's actually been selling out his position if we look back at q2 2020 you can see that he was selling out of his position um sold out entirely of his alibaba position in q2 of 2020.
so it's interesting that lee liu who is selling out of this fund um selling sorry selling out of alibaba where on the other hand charlie mung is recently buying in um so i'm not too sure you know if they've been discussing this in any great detail or if this is advice from um lilu in any way of shape formats it's hard to know if you know if you have some inside information on that or you've read the article about it drop in the comments below because i'd love to know a bit more around that whether this has come from lilu or anything like that because it's interesting that i see lilu selling out of the position where on the other hand like i said charlie mung is buying in we're just going to have a quick look over at the manual of ideas daily journal pitch which i've just watched this last night actually manual ideas is a great website unfortunately i'm not a member of the website um it's cost quite a lot i think they're currently accepting members but i can't remember offhand what the um the membership cost is but it's quite expensive but anyway they've released this video for free which you can go watch i'll leave a link in the description below which i highly recommend especially if you're interested in the daily journal and just charlie munger and um now it's recently this new alibaba position that he's taken as well um but anyway this video here is by matthew peterson of peterson capital management where he pitched the daily journal as you know his top idea for the 2021 manual of ideas um pitch which is great it's a great thing that's 48 minutes um but it goes into detail around um why he believes that daily journal was a good sort of business to invest in we're going to be looking at a couple of the slides that he talked about here around the daily journal as well but like i said i'll leave a link in the description below so you guys can go through and watch this let's just have a quick look at some of the slides here that he went through i'm just going to touch on a few of the highlight points those are some of my key takeaways so you obviously know daily journal we've got quite a good um very heavily stacked board of directors obviously with manga there a lot of these other guys have been on the board for a long time i'm not familiar with a few of these guys but they have a very stacked board so back in 1977 manga and gruen bought daily journal for 2 million dollars u.s gives a quick brief history of what's been going on with daily journal um and what's been happening so within the daily journal they have a newspaper business which is he's pretty much pegging that at zero dollars which seems to be a dying business then they have that investment portfolio which we've been talking about and then there's this journal technologies which is from my basic understanding it's like a tech software company that rolls out which there's good room for growth there and matthew peterson's pegging it at 100 million in revenue recurring revenues by 2030.
we'll do a touch on that later but uh let's just scroll down to an investment portfolio there which we're going to have a quick look at and then the journal technologies as well so let's just scroll so this is the daily journals portfolio this is what charlie munger manages um so here we have these four holdings within the us and then also these two other positions which he sold out of hyundai but uh by the looks of things here he still has this position with byd as well but it's hard to get information around this um you know these two particular holdings that he holds outside of the us because he doesn't have to um release this information on his 13f filing only companies that he holds within the us he has to release information about that so i'm not too sure how matthew peterson come across information or anything like that but this is what i'm just looking at here today i mean this is obviously before the alibaba position as well so just scrolling down so that's basically what we're looking at there and then this is the journal technologies which is this is your expectations are for over 100 million in recurring annual revenue by um 2030.
so this is a good area for growth within this journal technologies but like i said i haven't done a deep dive on this at all this is just basic had a quick look and watched the video last night on it by matthew peterson um but it's something i will probably look into a bit more if you'd like to know a bit more about this and you want to see future videos on this drop in the comments below and i'll do some follow-up videos around journal technologies or anything like that as well um but like i said i highly recommend you guys go over and check this out if you're interested in daily journal let's just have a quick look over the daily journal over at assembly wall street here so current market cap of 437 million i'm just going to be scrolling through this guys super quick have a couple look at a couple of key things that i picked up on it last night um so p e ratio of just under nine there so super cheap if you comparing it price to earnings um and earnings grew by 400 there um so i'm not too sure about that but we'll dig into this like i said simply wall street you know i've said it a few times it's a good place to sort of start when you're doing research but you definitely want to dig deeper than certainly wall street and don't use their fair value calculator put a little you know take it into account but don't put much stock into what they say with their fair value i'm not too sure how they come to these fair values but i'm finding daily journal is quite a hard one to sort of value and you've got to dig a bit i feel um to try and get a really good understanding of daily journal not just looking at the numbers it doesn't sort of stack up but you've got to look at it a bit deeper than that valuations today pegging the valuation coming in at 317 there um well that's what it's currently marketed at and then they're saying it's 52 overvalued so that's what i'm saying with these calculators you've got to put a you know don't put a lot of stock in what they say here p e like i mentioned earlier um they have quite a high p e ratio which is good to see coming in at um 8.9 which is compared to the industry average of 23.4 price to book across the book is 2.2 so it's in line with industry future growth so this is they don't have anything on the future growth of the company around um anything there price earnings a couple of key things i want to look at here obviously balance sheet is bomber let's have a quick look at the balance sheet so they've got 280 million of assets to to 25.28 and short-term liabilities and then long-term assets coming in at 23 million and then they still have a bit of long-term debt they're coming in at 77 million in long-term debt but very healthy balance sheet uh debt to equity is looking solid like i said balance sheets good dividend they do not pay a dividend which is good to see and a couple other things i want to point out here then we'll wrap that one up there for today so if we look down here the board members obviously have charlie munger coming in at independent chairman of the board and he's been on the board for 44 years so he's been in the game for a long time and it just had what a man to have on the board of directors and then we've got gerald salesman here as the vice chairman and there's one thing here that i'm a bit concerned about is well not not so much concerned but it's interesting to see the insider trading volume so by the gerald salesman here he's been selling off a lot of his shares by the end of last year there like every every couple of weeks he was selling off she is by the looks of things here and the top of the list here in 22nd of december 2020 sold off a fair amount coming in at uh just shy of 3 million there of shares so a little bit of insider selling there which is not good to see or better if you see insiders buying but there is high insider ownership within daily journal as well so we looked at individuals own individual insiders owned 23 percent in general public 35 and then institutions 40 so that's the sort of breakdown of ownership breakdown of daily journal and then we have the top shareholders within the company as well so rosman wealth management coming in at the top there just shy of 20 percent black rock good to see there um charles munger old charlie boy coming in at 3.62 and then vanguard down the bottom there anyway guys we're going to wrap that one up here today um hope you got some value from this what are you guys thoughts around this big position that charlie mung has made within the daily journal portfolio love to know you guys thoughts on it drop in the comments below and if you found any other great information around this as well also drop that in the comments below because it's something i am starting to look into a lot more because i do find it quite interesting if you enjoyed today's video guys be much appreciated if you hit that like button and if you want to see future videos like this make sure you hit that subscribe button with that said guys enjoy the rest of day and we'll catch you in the next video cheers guys
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