Charlie Munger’s Daily Journal scored a $106 billion portfolio gain

Charlie Munger’s Daily Journal has scored $106 million on its investment for the year to September 30, even though its Alibaba bet has seen a fall in its value.

The publisher’s portfolio with a cost base of $103 million, saw growth in its value by 94% to $348 million. The out-performance of Daily Journal pushed the total unrealized profit by 77% to $244 million. Charlie Munger benefited from gains in the share prices of Bank of America, Wells Fargo and US Bancorp. 

The revenue of the publisher slid down to 1% to $49 million in the year to September 30, and the higher advertising sale was offset by lower circulation revenues, consulting fees, and licensing and maintenance fees. Yet the company reported an operating profit of $2.2 million, which is higher than the operating profit of $1.3 million.