Summary
Daily Journal has entered the software program business. The new company 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 Los Angeles-based publishing agency that publishes newspapers and websites covering felony affairs in California and Arizona. Its subsidiary, Journal Technologies, supplies 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 that the agency has an investment portfolio. After the monetary disaster, Charlie Munger determined to put the firm’s 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. Courts and other justice agencies may use these browser-based case-processing structures for numerous cases. These products are certified by more than 500 companies in 42 states and internationally. Daily Journal Technologies generate around fifty-eight % of overall revenues.
There aren’t many records about Daily Journal Technologies, so it’s miles tough to evaluate that enterprise; however, I have collected exciting portions from the Daily Journal Annual Meeting, 10-K, and some different assets. Here is what Charlie Munger has said about the commercial enterprise at annual meetings in 2016, 2017, 2018, and 2019:
