Warren Buffett invests in newspapers

Published: Thursday, April 25, 2013 at 04:49 PM.

It was a pleasant surprise to learn Berkshire recently acquired 28 daily newspapers around the country. Included in the mix are the Jackson County Floridian and the Dothan Eagle. Mr. Buffett ’s letter spent almost three pages explaining his newspaper strategy.

He and co-manager Charlie Munger “love” newspapers and will buy more “if their economics make sense." In fact, they shut the presses down on one paper. They believe papers can make it if they couple a sensible Internet strategy (to be determined) with comprehensive and reliable information to local communities.

Social media like “Third Cup of Coffee” or “Walton County Ideas for Visioning and Quality of Life” on Facebook can fill voids, but there’s also drunkenbrawlers.com. Benjamin Franklin published under a pseudonym but Dr. Franklin was unique. Skeptically view news and investment advice (especially) from anonymous internet message boards.  

Many studies indicate humans comprehend text differently than online or E-readers. We kept Motley Fool columns purposely short because people skim online. On the evolutionary path, reading pops up 6,000 years ago versus the Internet with less than two decades of widespread use.  

Buffett likes businesses with wide moats; I’m glad the government funded Internet research and not him or Steve Jobs.

Buz Livingston, certified financial planner, has the only investment management firm in the entire world headquartered in Blue Mountain Beach . He helps clients along Florida ’s Emerald Coast and around the country with financial decisions. For more information, call 850-267-1068 or visit www.livingstonfinancial.net


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