• Russ Newton

Charlie Munger, partner of Warren Buffett.

We are going to miss these newspapers terribly," Munger said at the Daily Journal's annual shareholders meeting on Wednesday. “Each newspaper... was an independent bastion of power. The economic position was so impregnable… and the ethos of a journalist was to try to tell it like it is. And they really were a branch of the government —they called them the Fourth Estate, meaning the fourth branch of the government. It arose by accident. Now about 95% of [newspapers are] going to disappear and go away forever. And what do we get in substitute? We get a bunch of people who attract an audience because they’re crazy."


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