The world’s largest hedge fund, Bridgewater Associates, was founded by Ray Dalio in 1985. Dalio sits as the co-chief investment officer managing roughly $150 billion in assets under management.
Meanwhile, Charlie Munger is the chairman of newspaper publisher Daily Journal Corporation DJCO and sits on the board of retailer Costco Wholesale COST. Munger also holds a vice chairman seat on Berkshire Hathaway (NYSE: BRK-B), controlled by Warren Buffett — his closest partner and friend.
Here are two dividend stocks Charlie Munger’s Daily Journal and the world’s largest hedge fund share in common.
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- U.S. Bancorp USB is offering a dividend yield of 4.68% or $1.92 per share annually, making quarterly payments, with a track record of increasing its dividend payments for 11 consecutive years. U.S. Bancorp has branches in more than 20 states, primarily in the Western and Midwestern U.S. In the second quarter, Munger owned 140,000 common shares, while Dalio owned over 400,000 shares.
- Wells Fargo & Company WFC is offering a dividend yield of 2.66% or $1.20 per share annually, through quarterly payments, with a track record of increasing its dividends once in the past year. Wells Fargo is one of the largest banks in the U.S., with more than 12,000 ATMs and some 4,900 retail banking branches coast-to-coast. During the second quarter, Dalio held north of 1 million shares, while Munger held over 1.5 million shares in Wells Fargo.
See Also: The Smartest Person Munger Ever Met, And It's Not Buffett
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