Below is a spreadsheet that highlights the changes to Charlie Munger's Daily Journal US long stock portfolio as of Q4 2013:
Daily Journal filed its first 13F regulatory form on 02/11/2014 as their US long portfolio went over the $100M cut-off. The portfolio is heavily concentrated with just 4 holdings and Bank of America (BAC) along with Wells Fargo (WFC) accounting for over 90% of the overall portfolio value. Munger's cost-basis on these holdings are very low as Munger started purchasing common stocks at the nadir of the financial crisis in February 2009. Daily Journal's latest available quarterly report indicates his cost-basis for the equity portfolio as just under $50M - that essentially means he is sitting on huge gains. It is also known that part of the money is invested in foreign companies that do not fall under the 13F regulatory filing requirements.
To know more about Charlie Munger, check out the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .
Daily Journal filed its first 13F regulatory form on 02/11/2014 as their US long portfolio went over the $100M cut-off. The portfolio is heavily concentrated with just 4 holdings and Bank of America (BAC) along with Wells Fargo (WFC) accounting for over 90% of the overall portfolio value. Munger's cost-basis on these holdings are very low as Munger started purchasing common stocks at the nadir of the financial crisis in February 2009. Daily Journal's latest available quarterly report indicates his cost-basis for the equity portfolio as just under $50M - that essentially means he is sitting on huge gains. It is also known that part of the money is invested in foreign companies that do not fall under the 13F regulatory filing requirements.
To know more about Charlie Munger, check out the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .
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