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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (2245)	3/8/2000 9:31:00 AM
From: cfimx	Respond to of 4691

Bob, the key to the newspaper businesss going forward will be capital allocation. Remember what Buffett created from an old Textile plant? I believe the folks at wpo have a better business than the original Berkshiire Hathaway (i guess that goes without saying.) A monopoly newspaper, even one in slow decline, will spin off plenty of cash for owners. People forget that The Washington Post is only a "piece" of The Washington Post Company. I like the record of capital allocation at wpo, and Buffett sits on the board. Gannett has been buying back $1 billion of stock in the last couple of months. There's a price you can pay (for a business that gives you $10 today, and $5 in five years, and $1 in ten years) that could still make you plenty rich. You just have to know what that price is.