Charlie Munger’s Firm Doubled Down on Its Alibaba Investment

Warren Buffett ‘s longtime partner Charlie Munger has disclosed that a firm that he chairs nearly doubled an investment in the Chinese internet giant Alibaba Group Holding 

Daily Journal disclosed last week in a Securities and Exchange Commission filing that it owned 302,060 American depositary receipts of Alibaba at the end of September, which means it bought 136,740 ADRs in the third quarter.

Munger declined to comment on the additional ADR purchases.

Last week, Alibaba ADRs surged, possibly due to a broader relief rally. So far in the fourth quarter, the shares are up 9.1%, compared to the 2% rise in the S&P 500.