Warren Buffett On The Newspaper Industry (11/26/13)

0

Warren Buffett Q&A from 11/26/13 H/T Variant Perceptions

Q: How are you feeling about the newspaper business these days?

A: We bought four good-sized newspapers this year, in Tulsa, Atlantic City, Greensboro and Roanoke — so we have 28 or 29 dailies. Our papers are doing OK. They’re in midsized cities. I think it’s tougher, frankly, when you get into really big metropolitan areas. … I think a newspaper has to be primary as a news source to a community. And I think it’s very tough in a New York City or a Los Angeles. It’s a lot easier in a Tulsa, Okla., or a Greensboro, N.C. We have been focused on those kind of papers, and we will buy more.

Greenlight breaks even for Q1 after damage to its short book [Full Letter]

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasDavid Einhorn's Greenlight Capital was down 0.1% for the first quarter, underperforming the S&P 500's 6.2% return. In their letter to investors, which was reviewed by ValueWalk, the Greenlight team said a lot happened during the first quarter even though they made just a handful of changes to the portfolio and essentially broke even. Q1 Read More


The one thing I can guarantee you is we will not cut the news hole. The idea of selling less and less for more and more is not a winning system. I love newspapers. I read five every day.

Full interview http://www.usatoday.com/story/money/business/2013/11/26/warren-buffett-detroit-q-and-a/3749307/

No posts to display