Tags: warren buffett | berkshire hathaway | newspapers | returns

Buffett Defends Berkshire Hathaway's Newspaper Purchases

Billionaire Warren Buffett says Berkshire Hathaway shareholders should expect decent returns on the newspapers the company has bought in recent years.

But Buffett said at Saturday's meeting that he doesn't expect the newspapers to generate enough profits to make much difference to Berkshire.

Buffett says Berkshire has paid cheap enough prices for the newspapers it has purchased that he expects them to deliver 10 percent returns every year, but he also expects newspaper earnings to continue declining.

Berkshire Vice Chairman Charlie Munger pointed out that Buffett made an exception to his usual investing habits for newspapers because he likes them.

Berkshire has acquired 28 daily newspapers over the past two years.

Forbes Columnist: ‘Who the Hell Cleared This?’

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
StreetTalk
Billionaire Warren Buffett says Berkshire Hathaway shareholders should expect decent returns on the newspapers the company has bought in recent years.
warren buffett,berkshire hathaway,newspapers,returns
118
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved