Business

Charlie Munger must really like China’s Alibaba




Munger, who is deputy head of Berkshire Hathaway (BRKB), also runs its own listed company, newspaper publisher and investment company, Diary (DJCO), which has almost doubled its stake Alibaba (BABY) for the second time in recent months.
According to a Tuesday report to the Securities and Exchange Commission, the Daily Journal owned 602,060 shares in Alibaba at the end of 2021[ads1], a stake worth $ 71.5 million. That is almost double the stock from the previous quarter, when the Daily Journal owned 302,060 Alibaba shares, valued at that time at $ 44.7 million.
Munger, who turned 98 on New Year’s Day, has invested even more in Alibaba as shares continue to fall due to concerns about a downturn against major technology companies from Beijing, as well as concerns about slowing down Alibaba’s earnings growth.

Shares in Alibaba plunged 20% during the fourth quarter of last year after losing almost half of its value in 2020.

This is how it is to live in one of Charlie Munger's windowless dormitories
Munger’s efforts at Alibaba are particularly noteworthy because he has made a number of controversial comments over the past year and praised China for handling criticism from technology moguls such as Alibaba’s Jack Ma.
Although the Daily Journal bought several Alibaba shares in the fourth quarter, it did not change its positions in four other investments: financial giants Bank of America (BAC), US Bancorp (USB), and Wells Fargo (WFC) as well as the South Korean steel producer Posco (PKX).
Munger has also been in the headlines over the past year due to several stories focusing on the unusual architecture, especially windowless dormitories, featured in schools where he has made significant donations to fund student housing. Munger has a net worth of $ 2.4 billion, according to Forbes.



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