Munger sees "speculative frenzy" in stocks

Charlie Munger is telling Daily Journal (DJCO) shareholders the company's stock rallied to a recent all-time high "amid much speculative frenzy and much forced buying by index funds."

The comment, reports Business Insider, came in a letter from Munger, the company's chairman, to shareholders this month.

And referring to the Daily Journal's stock portfolio, which includes Bank of America (BAC) and Wells Fargo (WFC), and increased 45% in value during last year's fourth quarter, Munger said, "Shareholders should not expect any significant appreciation above that level anytime soon."

We'll hear a lot more from Munger when he answers questions from shareholders at the Daily Journal annual meeting, scheduled for Wednesday, February 24 at 1 pm ET/10 am PT.

Due to the pandemic, there won't be an audience, but the event will be streamed live by Yahoo Finance.

Berkshire Hathaway announced last month that its May 1 annual meeting will go "virtual" as it did in 2020, with no one allowed to attend. Buffett will be answering questions, with the event also streamed live on Yahoo Finance. 

BYD raises almost $4 billion in stock sale

With its Hong Kong shares up more than 400% in the past 12 months, the Chinese electric car maker BYD raised $3.9 billion in a stock sale.

Bloomberg reports its the biggest primary share placement in Hong Kong since 2014.

BYD had originally planned to sell 113 million of its Hong Kong shares, but raised it to 133 million shares, about 14.5 percent of its newly enlarged base.

BUFFETT AROUND THE INTERNET

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BERKSHIRE STOCK WATCH

BERKSHIRE'S TOP STOCK HOLDINGS - January 22, 2021

Berkshire's top holdings of disclosed publicly-traded U.S. stocks by market value, based on today's closing prices.

Holdings are as of September 30, 2020 as reported in Berkshire Hathaway and New England Asset Management's 13F filings on November 16, 2020.

The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.

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-- Alex Crippen, Editor, Warren Buffett Watch