Buffett pal Charlie Munger is doubling down on Alibaba bet

Munger's newspaper publisher and investment firm Daily Journal (DJCO) revealed in a regulatory filing earlier this week that it boosted its position in Alibaba ( $Alibaba(BABA.US)$ ) by nearly 83% in the third quarter.
Notably, Alibaba is the only stock that Daily Journal boosted its position in during the third quarter. Munger's firm held steady with stakes in four other companies: financial giants Bank of America ( $Bank of America(BAC.US)$ ), US Bancorp ( $U.S. Bancorp(USB.US)$ ) and Wells Fargo ( $Wells Fargo & Co(WFC.US)$ ) as well as South Korean steelmaker Posco ( $POSCO(PKX.US)$ ).