Finance

  Despite Tesla (TSLA) reporting disappointing earnings and a higher-than-expected US economic growth reading, US stocks climbed on Thursday. The Dow Jones Industrial Average (^DJI) gained 0.2%, the S&P 500 (^GSPC) rose 0.4%, extending its record streak from the previous day, and the Nasdaq 100 (^NDX) inched up about 0.6%.  The morning release of the advance estimate for fourth-quarter US gross domestic product (GDP) revealed a robust annualized growth rate of 3.3%, surpassing economists' expectations of 2%. Tesla, in its quarterly results, cautioned about a "notably" slower growth in electric vehicle production, missing profit forecasts. CEO Elon Musk expressed concerns about Chinese carmakers outpacing rivals in the absence of trade restrictions. Tesla shares plummeted up to 11%, marking a deeper decline compared to other tech-heavy "Magnificent Seven" stocks that have been propelling the S&P 500's surge. After-hours attention focused on Intel (INT...

 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...