Summary
Daily Journal has entered the software program business. The new business is interesting as it’s a large market. If you ever get entrenched in it, it’ll be very sticky. We have plenty within the pipeline that is very important to us. You can’t choose it as an ordinary commercial enterprise.
Daily Journal Corporation (DJCO) is a publishing agency situated in Los Angeles that publishes newspapers and websites covering felony affairs in California and Arizona. Daily Journal Corporation also has a subsidiary, Journal Technologies, that substances case management software structures and related merchandise to courts and other justice businesses, including administrative regulation organizations, county governments, and bad institutions.
It’s essential to mention the agency has an investments portfolio. Post the monetary disaster; Charlie Munger determined to put the firm’s more money to work. He bought a portfolio of equities, commonly Wells Fargo (NYSE: WFC) and Bank of America (NYSE: BAC).
Daily Journal Technologies
Due to the deterioration of the newspaper business, Daily Journal has entered the software program business – Daily Journal Technologies, which gives diverse merchandise together with JustWare, ICMS, eFile, ePayIt, court, prosecutor, defender, and probation. These are browser-based case processing structures that courts and other justice agencies may use for numerous case sorts. These products are certified by extra than 500 companies in 42 states and internationally. Daily Journal Technologies generate around fifty-eight % of overall revenues.
There isn’t a good deal of records approximately Daily Journal Technologies, so it’s miles tough to evaluate that enterprise, however from the Daily Journal Annual Meeting, 10-K, and some different assets, I even have collected exciting portions. Here is what Charlie Munger has said approximately the commercial enterprise at annual meetings in 2016, 2017, 2018, and 2019:
