Matthew Peterson of Peterson Capital Management presented his in-depth investment thesis on The Daily Journal Corporation (US: DJCO) at Best Ideas 2019.
Thesis summary:
The Daily Journal Corporation is an American publishing and technology company with hidden assets and off-balance sheet value. With no analysts or investor relations department, few understand the transformation that has occurred.
While historically a legal newspaper publishing company, today DJCO operates a SaaS business model providing case management software to courts and government agencies around the U.S. and the world. Licensed software for many ten-year contracts is currently in the multi-year implementation stage. Implementation is expensed as provided, while the long-term recurring high-margin revenue is not yet included on the income statement.
The board includes high-profile names such as Rick Guerin, Peter Kaufman, and Charlie Munger.
Listen to this session:
slide presentation audio recording
About the instructor:
Matthew Peterson is the Managing Partner of Peterson Capital Management, LLC. Matthew has over a decade of experience with global financial services firms including Goldman Sachs, Morgan Stanley, Merrill Lynch, American Express, and Ameriprise Financial. Prior to forming Peterson Capital Management, LLC and launching Peterson Investment Fund I, LP, Matthew split time between Wall Street and London as Capital Markets Manager in the Financial Services Vertical at Diamond Management and Technology Consultants. Matthew worked as a member of both the U.S. and U.K. offices, with expertise spanning from risk management to derivative processing. During his tenure with Diamond, Matthew worked with top-tier investment banks, global payments firms, and international insurance companies to deliver high impact solutions to his clients’ most challenging business problems.
About The Author: MOI Global Editorial Team
The MOI Global Editorial Team, led by John Mihaljevic, CFA, includes community builders, event organizers, writers, editors, research associates, security analysts, and fanatical member support advocates. Our sole purpose is to serve the members of MOI Global as well as we possibly can in order to help them learn, invest intelligently, and build lifelong friendships with like-minded people.
Who is MOI Global? In recent years, The Manual of Ideas has expanded to become more than simply “the very best investing newsletter on the planet” (Mohnish Pabrai). We are now a thriving global community of intelligent investors, connected through great ideas, thought-provoking interviews, online conferences, live member events, and much more.
Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. Members also enjoy preferential access to selected offline events as well as exclusive access to other events hosted by MOI Global, including the Zurich Project Summit, the Latticework Conference, and Ideaweek.
More posts by MOI Global Editorial Team