Charlie Munger on Delayed Gratification:

I've also got the money-sense gene. The first 13 years I practiced law, my income from practicing law was $300,000 total.

At the end of that 13 years, what did I have?

1/

@GordonsGecko That's a good short candidate

Smart-sounding reasons to sell as the market rose:

h/t @morganhousel

Successful investing comes down to how much investors make when they’re right and how much they lose when they’re wrong.

Charlie Munger has a net worth of $2.5 billion

He owns 50k shares of Daily Journal $DJCO, a 3.6% stake valued at $18M

Daily Journal has a portfolio worth $259M, which includes $72M worth of $BABA stock

If $BABA or $DJCO went to zero the total loss to Munger would be negligible

Good morning, all. There's a little bit of news out of Michigan already this morning - it looks like Judge Parker wanted to start the work week this week with unnecessary and stupid distractions cleared away.

So she dismissed the MI Kraken tentacle sometime after midnight.

It a 36-page opinion.

And it starts out strong.

ACK - my bad -

Sorry. I'm tweeting without caffeine and it shows. The order rejects the injunction, but it doesn't dismiss the case (yet). Skimming ahead, that appears a foregone conclusion, but technically the case isn't dismissed.

Seriously, though - this is yet another judge who is responding to these request to overturn the election with the judicial version of "you want me to *what*? Hard pass."

The judge is being kind to the plaintiffs here and doesn't mention the epiceyeburningdisasterthatwastheoriginalcomplaint. But you'll note that the judge also doesn't mention what claims were in that complaint or whether they are the same as the ones in the 1st Amended Complaint.

Look, I get the reasoning behind not calling witnesses. But what gets lost is that yet another rich white elected criminal got away with it. We've had decades of this (GWB lying re WMDs) & Ds have never stopped it. Never. They just sigh & ask for our votes. We want accountability

They've never rid of of the EC, no Healthcare 4all & any gains we've gotten (NRA going bust, BLM showing us inequality) has been citizen advocacy. And citizens SHOULD do that. But we want our Dem reps to accomplish big things, too. We've given them all three branches twice.

So it's a bit difficult to ask us to swallow this "as a win" when a criminal isn't held accountable by the very means he's supposed to be held accountable.

I understand the challenges, I do. But these same naysayers also wrote off Stacy Adams in GA, and look what she did.

Political calculation is important, sure. But it's not the ONLY important thing, either. Sometimes one has to fight to the bitter end over a thing that matters, even if you lose the fight. I don't see that happened here. And it's part of a pattern. If Ds didn't have this pattern-

Maybe I'd be more forgiving, but I'm not. People got away with torture, they got away with illegally selling arms, working with a hostile foreign nation, killing our citizens via negligence, and thus far NO accountability for any of that, and little hope some will come.

A hearing is underway now in the case of Richard Barnett, one of the Capitol insurrection defs (photographed at Pelosi's desk) — the govt is challenging an Arkansas magistrate judge's release order. Chief Judge Beryl Howell in DC halted his release until she rules on the matter

Prosecutor Mary Dohrmann begins by arguing Barnett flouted laws "in the most brazen and flagrant manner possible" when he breached the Capitol: "He knew exactly what he was doing."

Prosecutor says the note that Barnett left for Pelosi in her office — "Nancy, Bigo was here you bitch" — was "disturbing" and says the photographs of him sitting at Pelosi's desk show that he appears to "relish" the notoriety

Govt says Barnett doesn't have a criminal record, but notes police reports where a caller lodged a complaint that he'd pointed a rifle at a car with a "Black Lives Matter" sticker and, in a separate incident, was carrying around guns in public