Ironic that I wouldn't buy WFC anywhere near this price but am glad BRK continues to accumulate shares. BRK also continues to buy newspapers like they are going out of style (which they are). Can't figure this one out; even if the prices paid by BRK are highly distressed, where is the upside?
I view the newspaper purchases as a classic cigar butt type investment. In finance classes they use to teach the "payback method" (how long will it take to recoup your original investment) and my guess is that with the papers, considering the distressed sale prices, it will not be too long. Also the Media General deal included a boatload of warrants which are very much in the $. No sustained losses either as when it is projected that a paper will not be profitable they immediately close the doors. On these deals WEB has estimated a long term return of 10% but when all is said and done my guess is that it will easily be a higher number.
the greatest pres of ALLLLLLLL TIMES, if you are uncle warren or his partner !! what happened to that guy tiempo, for years I told him to stop beetching get long, score big and move out of his moms garage, he wouldn't do it ? go figure.