Charlie Munger. Lane Hickenbottom/ReutersCharlie Munger's Daily Journal saw a $132 Million gain in stocks over nine months.Munger's investments increased more than fourfold to $350 millions on paper.Warren Buffett's business associate, 97, purchased a stake in Alibaba this year.Check out more stories from Insider's business page.Charlie Munger's Daily Journal saw a $132 Million gain in stocks over nine months, as its few bets paid off.Daily Journal, a newspaper publisher, and legal-software provider, released its third quarter earnings this week. The stock portfolio of the company, which is worth $80 million, has seen its value rise by 60% to $350 millions in the nine months from June 30. As a result, the company's unrealized profits nearly doubled to $270million and has more than quadrupled their money on paper.Munger, now 97, is most well-known as Warren Buffett’s right-hand man, and vice-chairman at Berkshire Hathaway. He manages the Daily Journal's portfolio and has been its chairman since 1977.The only move the investor made was to buy $40 million worth of Alibaba stock during the first quarter. The stock was already in the red at June's end, and has fallen another 16% since then due to the Chinese government tightening its regulations of domestic technology companies.Daily Journal's strong portfolio gains were due to its four other positions – Bank of America and Wells Fargo as well as US Bancorp and Posco. These positions surged in value with the rise of shares of the three banks and the South Korean Steelmaker.Investors are reminded each quarter by the publisher that they're not a smaller Berkshire Hathaway and that they have ambitions to be a "significant" software company. Its stock portfolio is larger than its operating businesses, and three out of five US stocks that it holds are also owned by Berkshire.Daily Journal's revenue increased by 5% to $14 million last quarter, compared with the previous year. Advertising revenues soared 69%, to $2.2million as courts ordered businesses publish legal notices about their trading names. Consulting fees fell by one-third, to $2.1million, due to delays in the company's systems becoming live.
