Daily Journal revealed a $37 million stake inAlibaba this week.- Warren Buffett's right-hand man,
Charlie Munger , is the newspaper publisher's chairman. - Alibaba is one of five stocks in Daily Journal's portfolio.
- $4.
Charlie Munger may be a 97-year-old who has spent decades investing in American corporate giants like Coca-Cola and $4, but he's also open to backing Chinese technology companies.
Daily Journal - which has counted Munger as its chairman since 1977 - added Alibaba to its stock portfolio last quarter, a $4.
The newspaper publisher and software developer bought 165,000 shares in the Chinese
Munger, Warren Buffett's business partner and the vice-chairman of Berkshire Hathaway, has bet on Chinese companies before. He $4, which led to Berkshire plowing about $230 million into the electric-vehicle company in 2008. Its stake is worth over $5 billion today.
The Alibaba position is notable because Munger $4 for $4 the Chinese government during the Daily Journal annual meeting in February.
"
The notoriously outspoken Munger also took aim at bitcoin, SPACs, Robinhood, and stock-market speculators during the meeting.