Charlie Munger’s Daily Journal Nearly Doubles Alibaba Holding

Reuters

Charlie Munger’s Daily Journal nearly doubles stake in China’s Alibaba

The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4. Munger, 98, has long been bullish on China. The vice chairman of Berkshire Hathaway had previously praised the country’s crackdown on Jack Ma’s Ant Group, the fintech giant whose record $37 billion IPO was derailed by regulators in November 2020.