If you own the only newspaper in town, up until the last five years or so, you have pricing power and you didn't have to go to the office.
Warren BuffettI insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
Warren BuffettAsset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
Warren BuffettInvesting is forgoing consumption now in order to have the ability to consume more at a later date.
Warren Buffett