Finance

 Over a span of 15 years, the late Charlie Munger transformed Daily Journal's stock portfolio from nothing to $300 million. The recent release of the final portfolio update during Munger's tenure as chairman highlights his extraordinary patience, discipline, and conviction. Best known as Warren Buffett's right-hand man and vice chairman of Berkshire Hathaway, Munger passed away at the age of 99 on November 28. He served as the chairman of Daily Journal's board for approximately 45 years, from 1977 to 2022. In the midst of the 2008 financial crisis, Munger made the strategic decision to allocate a portion of the company's funds into stocks and took charge of managing its investments. The first portfolio filing by Daily Journal dates back to the fourth quarter of 2013, likely triggered by the portfolio value exceeding the $100 million reporting threshold. The publisher and legal-software provider revealed holdings including 2.3 million shares of Bank of America, almos...

 Elon Musk, the self-proclaimed advocate of free speech, addressed the departure of advertisers from his platform, X (formerly Twitter), following his endorsement of an antisemitic post, with strong language. In an interview at te New York Times (NYT) DealBook conference, Musk responded to the advertisers exercising their own agency by saying, "Go f*** yourself." Musk's confrontational stance towards departing advertisers emphasizes a distorted perspective on open expression. While he freely expresses himself and utilizes the platform to punish perceived adversaries and support allies, he seems to restrict this freedom from others, such as companies choosing where to allocate their advertising funds. Specifically targeting Disney CEO Bob Iger, who explained the company's suspension of advertising on X during the conference, Musk retaliated by labeling the suspensions as "blackmail." He predicted dire consequences, proclaiming that this action would lead to t...

 Finding stocks that offer both capital appreciation and a generous dividend can often be a challenge for investors. Typically, high-yielding dividends are associated with stocks that have experienced significant declines in their share prices. However, imagine discovering a stock that not only presents a high-yielding dividend but has also outperformed all its competitors over the past 52 weeks, achieving substantial gains while distributing monthly dividends. Consider Modiv Industrial Inc. (NYSE: MDV), a Reno, Nevada-based diversified REIT managed internally, housing 44 single-tenant net-lease properties spanning 4.9 million square feet across 16 states. Among these properties, 39 are industrial, four are office spaces, and one is a retail property, housing 30 tenants. With a 100% occupancy rate and an impressive weighted-average lease term (WALT) of 14 years, this portfolio also features annual rental increases averaging 2.5%. Established in 2015, Modiv had its IPO in February 2...

  Changes are imminent for catch-up contributions, effective from 2024 onwards. Certain employees who typically contribute additional funds to employer-sponsored retirement plans, such as a 401(k), will now be required to allocate this money into a Roth account. Consequently, these contributions won't be eligible for income tax deductions. However, the gains accumulated within the account can be withdrawn tax-free later in life. This alteration primarily applies to individuals earning $145,000 or more. Catch-Up Contributions Explained: Tax-advantaged retirement accounts have maximum contribution limits, determining the amount one can invest annually without incurring taxes. For instance, in 2023, an individual could contribute a maximum of $22,500 to a 401(k) and up to $6,500 to an IRA. To encourage retirement savings, the IRS permits "catch-up contributions" for individuals aged 50 or older. Those above 50 can contribute an extra $7,500 to a 401(k) or an additional $1,00...

The Impact of Wealthy Households Moving Between States While households earning over $200,000 annually make up a small fraction of total tax returns filed, their relocation between states packs a powerful financial punch. If a state loses more high-earning taxpayers than it gains, it could face a decline in tax revenues, affecting its fiscal stability. Even though these high-earning households constitute less than 7% of total tax returns filed across states and D.C. in 2020, their migration trends continue to be newsworthy. SmartAsset aimed to identify which states experienced the most movement among high-earning households. The analysis focused on the inflow and outflow of tax filers making at least $200,000 between 2019 and 2020. Key Insights - Sun Belt Leads the Way: Most of the states experiencing a substantial influx of high-earning households are located, at least partially, in the Sun Belt region. Florida tops the list. -State Taxes Matter: States not imposing income tax show a ...

 "Decoding Pension Buyouts: Navigating the Road to Retirement" Pondering whether to take the lump sum or opt for monthly payments from your pension? You're not alone. Pension buyout decisions are becoming more commonplace, sparking a host of considerations for those with retirement plans. Let's break down the complexities and help you make an informed decision that aligns with your financial future. The Dilemma: Lump Sum vs. Monthly Payments When faced with a pension buyout offer, timing becomes paramount. The quandary lies in when you'll receive the payout and how long you anticipate living. A lump sum payout earlier in your retirement can significantly boost its overall value. Conversely, if you're in it for the long haul, monthly payments may accumulate into a more substantial sum over time. For instance, imagine being offered $48,000 to forgo a $462 monthly payment. If you're past a certain age, playing the percentages might lead you to lean towards th...