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Nicole Friedman @NicoleFriedman
, 7 tweets, 3 min read Read on Twitter
Berkshire Hathaway owns dozens of daily and weekly newspapers, and Warren Buffett has said he underestimated how quickly they would decline.

Now Berkshire is outsourcing management of those papers to Lee Enterprises:
wsj.com/articles/lee-e… $BRKB $LEE
Some more tidbits about this deal:

BH Media CEO Terry Kroeger is expected to leave Berkshire after a short transition period.

Each side will have a relationship manager: Kevin Mowbray at Lee and Ted Weschler at Berkshire.
The deal does not include @TheBuffaloNews or @WPLGLocal10, which are both owned by Berkshire.
Lee will be able to lay off employees and cut non-union benefits without approval from Berkshire.
Lee will need approval for some moves, like changing publication days or closing a newspaper.
Lee owns four newspapers in Nebraska, and now it will manage another 6, including @OWHnews
The full agreement between Lee Enterprises and Berkshire Hathaway is here: sec.gov/Archives/edgar… $LEE $BRK
Lee Enterprises on conference call today: "We don't anticipate making any immediate changes."
$LEE $BRKB
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Warren Buffett- THREAD

When it comes to asking about the Illegal Immigration… lets be 100% honest.

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“Those who know the Blue-Eared Glossy Starling Bird should mourn with Indigo Dye;
Those who know the Carmine Bee-Eater should mourn with Camwood;
Those who know the Cow Egret should mourn with White Chalk.”

This is how the death of Bola Ige was announced on some Radio stations.
What I posted is a translation, what was announced was in Yoruba:

“Eni ba mo agbe k’o sun’kun aro;
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The death of Bola Ige is undoubtedly the last ethnically tragic event that happened to the Yorubas.
Of all the politicians who lived after Awolowo, none was more colourful (perhaps even more than Awo himself) and none was as charismatic as Bola Ige.

Unfortunately for him, he also stirred deep envy from his friends and deep hatred from those who chose to be his enemies.
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Warren Buffett has bought a stock based on a P/E ratio exactly never. He has also said: "My own thinking has changed drastically from 35 years ago when I was taught to favor tangible assets and to shun businesses whose value depended largely on economic goodwill.'"
Berkshire authorized Buffett and Munger to buybacks when both believe the repurchase price is "below Berkshire's intrinsic value," a determination that would be made "conservatively." Claiming that Buffett is a walking contradiction is click bait/rubbish. google.com/amp/s/mobile.r…
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Warren Buffett CNBC transcript from today: cnbc.com/2018/08/30/fir…
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Warren Buffett gets Bitcoin just fine. He plays a lovable old man who invests in value stocks, and crapping on things with no intrinsic value is part of his act. (1/5)
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To make money in the markets, you have to be right when other people are wrong.

#Buffett has been right for a long time. But he was the most right when it wasn’t obvious that you could use Graham’s principles to build Berkshire. Now it is, so that edge is gone.
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