I first became interested in Daily Journal Corporation(DJCO) while reading Janet Lowe’s excellent Chralie Munger biography, Damn Right. I have owned it in the past though not currently. It consists of a declining but still profitable niche newspaper publisher, and with Berkshire Hathaway’s recent acquisition of Wesco, is the only company managed solely by Charlie Munger. Beginning during… Read More »
As reported previously, Berkshire Hathaway(BRK-B,BRK-A) announced its intention on August 25, 2010 to propose to Wesco(WSC) that it purchase the 19.9% of Wesco it did not already own. This morning, at long last, the two companies have announced a definitive merger agreement. Wesco shareholders will be able to elect cash or stock at what seems like a negligible… Read More »
Image via Wikipedia Li Lu, thought by many to be Warren Buffett’s successor as investment manager at Berkshire Hathaway has decided to stay at his own hedge fund, Buffett said. In the wake of today’s surprise announcement that Todd Combs would be joining Berkshire as investment manager, New York Times’ Andrew Ross Sorkin spoke to Buffett: One person… Read More »