This week, the Daily Journal Corporation held its annual general meeting, where Charlie Munger, the billionaire value investor, former chairman, and current director, discussed the company's investment portfolio and future direction.
The company is in the middle of a transition. It is moving away from its legacy newspaper business to providing technology and technology services for the legal industry.
The transition is taking time and costing a lot of money because, as Munger noted, most courts are stuck "in the stone age."
However, the Daily Journal has the skills, connections, and resources to push through this change, even though it might take a while.
Q4 2022 hedge fund letters, conferences and more
Munger...
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