Interesting Reading – February 18, 2017

In this series, we suggest worthwhile reading material on a variety of topics of general interest. Daily Journal Corporation Annual Meeting – February 15, 2017. Charlie Munger spoke for nearly two hours at the Daily Journal annual meeting in Los Angeles.

Revisiting Daily Journal Corporation – Five Years Later

Daily Journal Corporation is a publisher of several small specialty newspapers and information services primarily serving the legal and real estate communities in California and Arizona.  With the company’s traditional business experiencing a steady secular decline in recent years, management

Daily Journal Corporation: Declining Publisher or Rising Hedge Fund?

Daily Journal Corporation publishes several newspapers in California and Arizona with a specific focus on topics of interest to the legal and real estate professions. Read this article for more details on the company and the interesting turn of events in recent years that involve a large portfolio of marketable securities.

Exposing the Compensation Consultant Smokescreen

The Wall Street Journal has reported that many corporate boards are attempting to reform their compensation practices by changing the nature of their relationship with compensation consultants. Many observers have noted for several years the inherent conflict of interest that exists when compensation consultants are brought in to make recommendations on the pay of the same managers who have the power to direct additional consulting business to the same firms. The “solution” some boards seem to have come up with is to continue using compensation consultants but to limit any additional work given to these firms. Read this article for more details.

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