What is Warren Buffet Thinking?

As many of the regular readers of this blog knows one of the people I admire, at least when it comes to business and finances is the so called Great Oracle of Omaha, Warren Buffet. Well he has been in the news a great deal recently.

First off in April we learned he has been diagnosed with prostate cancer.
According to the USA Today, it is still in the early stages and studies say that 91% of these cancers caught this early are survived even after 15-years. Buffet on his part says he will start radiation in July.

More recently we have learned that he has been buying up large blocks of newspapers, most small weeklies. Even though the reports that the newspaper industry is a dying industry.

it is reported that one of the world’s richest and a long-term-focused investor, Warren Buffett, has been actually ramping up his investments in newspapers. AFP’s Rob Lever reports that over the past year, Buffett has invested up to $350 million in the newspaper industry. Investments include $200 million in the Omaha World-Herald (seen by some analysts as a sentimental investment), $142 million into the Media General chain of 63 newspapers, and another $2 million into Lee Enterprises, owner of the St. Louis Post Dispatch and Arizona Daily Sun. Buffett’s Berkshire-Hathaway Company also holds investments in The Buffalo News and The Washington Post Co.

- Smart Planet blog

Since the 63 papers bought back in May (2012) he has bought what Seeking Alpha reports as his 66th newspaper, this past Friday he added to his collection of newspapers the Waco Tribune-Herald.

Finally on June 22, 2012 we learned the Buffet and his companies vice-chairman Charlie Munger has become the latest financial advisers/gurus to not buy gold.

In a freewheeling discussion to a private channel, Warren Buffett, Chairman of Berkshire Hathaway (NYSE: BRK.A and BRK.B) has exhorted investors to invest in productive businesses instead of buying gold.

A day before ,Vice-Chairman of Berkshire Hathaway, Charlie Munder also expressed similar sentiments when he said, (civilized people don’t buy gold”. Investing in gold is a computer game and the company abhors such tricks to make money, he added.
- Finance Enquiry

I must say I admire his tenacity and have to agree that I like the newspaper business as well, and I have discussed similar sentiments about gold. Although I have allowed guest posters that have posted contrary thoughts. I would love to hear what you think,  Is Buffet still a wise investor or is becoming senile?  The comment fields are now open.

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go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think.

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