Can we count your visit with Google Analytics? No ads, no profiles. Details
DJCO
NASDAQNext earningsDec 29Communication Services · Publishing
Each weekday: the watchlist of pullbacks inside uptrends, every new ticker teardown, and the bubble shifts that move names like this one. Free. Education, not advice.
Free when you join: the $HOOD Teardown Dossier (Robinhood Markets), the full desk file we sell in the shop. One per new reader.
No spam. One email per day max, unsubscribe in one click. Pro ($49/mo) includes every dossier and report in the shop.
Structural: hybrid of three unrelated businesses - (1) declining legal/public-notice newspapers (The Daily Journal, LA Daily Journal, San Francisco Daily Journal), (2) Journal Technologies, a SaaS-transition court/justice software business with multi-year backlog from US state/county courts, and (3) a Munger-legacy concentrated equity book ~$300M+ that dominates book value and GAAP earnings via mark-to-market accounting.
Bull case: Journal Technologies revenue compounding mid-single-digits with sticky multi-year court contracts and SaaS ARR shift expanding margins; legal-notice print remains a cash cow tied to foreclosure and probate volumes; equity portfolio gives optionality and a tangible book floor; tiny float + Munger-disciple shareholder base = structurally illiquid premium; no dilution, no debt.
Bear case: Journal Technologies operating margins thin and lumpy (implementation services drag); print legal newspapers in secular decline as e-filing kills public-notice mandates; portfolio concentration in financials (BAC/WFC/USB) imports bank-cycle volatility into reported EPS; post-Munger (d.
Nov 2023) capital-allocation question unresolved; sub-$1B market cap = no institutional sponsorship + wide bid/ask.
It reads our $DJCO data (thesis, key levels, peers, a year of prices) and any chart screenshot you paste, then explains the setup in plain English. Free with an email login, 5 questions a day. Education only: it never tells you to buy or sell, and it can be wrong, so check the numbers.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.