????此外，他還解釋道，鑒于先進(jìn)出版公司并未打算出售旗下資產(chǎn)，所以，雖然這家報(bào)紙看上去是不錯(cuò)的投資選擇，但他并沒(méi)有買下它的打算。不過(guò)，他認(rèn)為，地方性報(bào)紙，不論是紙媒還是網(wǎng)媒，確實(shí)是一項(xiàng)可以持續(xù)的生意。目前，巴菲特的伯克希爾?哈撒韋公司（Berkshire Hathaway）旗下?lián)碛谢虺止傻拿襟w就包括奧馬哈《世界先驅(qū)報(bào)》（World-Herald）、《華盛頓郵報(bào)》（Washington Post）、《水牛城新聞報(bào)》（Buffalo News ）和媒體綜合集團(tuán)（Media General）等。上周二，據(jù)透露，伯克希爾公司購(gòu)買了李氏企業(yè)公司（Lee Enterprises）3.2%的股份，該公司旗下包括《圣路易斯郵報(bào)》（Post-Dispatch）和其他47家日?qǐng)?bào)。并且有可靠消息顯示，巴菲特有意繼續(xù)買進(jìn)該公司股份，甚至有可能最終將整個(gè)公司都收入囊中。

????那么，巴菲特希望投資報(bào)紙能帶來(lái)多少利潤(rùn)呢？肯定不會(huì)是30%至40%，甚至也不到20%。他在接受Daily Beast網(wǎng)站霍華德?庫(kù)爾茨的采訪時(shí)表示：“與我們?cè)诓`頓鐵路公司（Burlington Railroad）的投資相比，報(bào)紙資產(chǎn)的收益確實(shí)有些微不足道。不過(guò)，從財(cái)務(wù)上來(lái)看，對(duì)報(bào)紙的投資即便算不上精明，也絕對(duì)不是愚蠢的決定。”

????譯者：劉進(jìn)龍/汪皓

????He also noted that Advance doesn't tend to sell off its properties, so it's unlikely he could buy the paper even if it looked like a good investment. He does, however, believe that local newspapers can be a sustainable business, whether in print or online. His company Berkshire Hathaway (BRK.A) now owns or has stakes in stakes in the Omaha World-Herald, the Washington Post (WPO), the Buffalo News and Media General (MEG). On Tuesday, it was revealed that Berkshire had purchased a 3.2 percent stake in Lee Enterprises (LEE), which owns the St. Louis Post-Dispatch and 47 other dailies. Informed speculation has it that he means to buy more of the company -- perhaps with an eye toward snapping up the whole thing.

????And what kinds of profits does Buffett expect his newspaper investments to generate? Probably not in the 30% to 40% range, or even 20%. "The kind of earnings we'll draw from our newspaper properties will be a very tiny fraction of, say, Burlington Railroad," he told Howard Kurtz of the Daily Beast. "But it's not a dumb decision financially."