Daily Archives: May 6, 2011

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Fried Cat Fish, Angel Food Cake, Lime Diet Cokes, We Rule, and a Biography Make for a Great Afternoon and Evening

My Day In PicturesBy Joshua Kennon May 6, 2011 1 Comment

Tonight, we had dinner at Aaron’s parents house to celebrate some birthdays in his family. His dad made fried catfish and his mom an angel food cake, both of which were good.

Not All Your Investments Will Work Out at First … Just Look at The Buffalo Evening News and Berkshire Hathaway

Making MoneyBy Joshua Kennon May 6, 2011 1 Comment

In 1977, Berkshire Hathaway invested nearly 25% of its net worth into Buffalo Evening News, a newspaper in upstate New York. Buffett and Munger paid $32.5 million for the company, which had only earned $1.7 million pre-tax in 1976. The theory was the paper could launch a Sunday edition and increase profits substantially. A judge…