Earlier today, Fox Business News interviewed Warren Buffett, Charlie Munger and Bill Gates – 3 rich guys who know a lot about a lot of stuff. After talking about the dynamic between Buffett and Munger – two longtime business partners who have generated enormous wealth for themselves and every Berkshire Hathaway stockholder – the conversation moves to newspapers.
Liz Claman, the Fox anchor and former CNBC anchor, asks Mr. Munger if he ever tells Warren they need ‘get out’ of former investments that are no longer attractive and cites the Washington Post and Buffalo News as examples. The responses from all 3 men – Buffett, Munger and Gates – and their specific comments about the Buffalo News are interesting. The clip is worth your 8 minutes.