Daily Journal Tells SEC Munger Knows Best Buying Stocks

[Parsad]

http://www.bloomberg.com/news/2013-08-22/daily-journal-tells-sec-munger-knows-best-buying-stocks.html?cmpid=yhoo

 

Cheers!

[Guest longinvestor]

‘Little Time’

 

“Two of the company’s directors, Charles Munger and J.P. Guerin, selected the securities which, given their experience and knowledge of investing, required very little time,” Daily Journal said in the letter. “Also, there have been only purchases and no sales, so no time has been spent trading or ‘managing’ these marketable securities

 

That made my day!

 

Damn the SEC, they have much bigger problems (& crooks running around) they are supposed to regulate but don't have the b$$lls to, and they want to regulate the Daily Journal like a mutual fund! What a bunch of baloney.