Why Warren Buffett Invests In Newspapers

“You essentially have a business that will make a lot of money if you are terrific, it will make a lot of money if you’re lousy.”

“How good a newspaper is depends entirely on the wishes of its owner. There is no correlation between profits and excellence.”

“There’s really nothing like that in American business.”

- Warren Buffett in a lecture to The Omaha Press Club Education Committee

Watch the full lecture here

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