Reuters
Daily Journal, long overseen by Charlie Munger, halves stake in China’s Alibaba
Daily Journal Corp, the publishing and software company where Warren Buffett’s business partner Charlie Munger helps oversee investments and until recently was chairman, on Monday said it halved its investment in Chinese e-commerce giant Alibaba Group Holding Ltd. In a regulatory filing, the Los Angeles-based company said it owned 300,000 of Alibaba’s American depositary shares (“ADS”)worth $32.6 million as of March 31, down from 602,060 shares at the end of 2021. The reduction essentially reversed Daily Journal’s trading activity in last year’s fourth quarter, when its Alibaba stake nearly doubled in size.
