I have just started reading about Discovery Communications (DISCA or DISCK). As I study their business model, I am reminded of something Buffett said in a great discussion at the University of Florida back in 1998:

“If you’re right about the business, you’ll be right about the stock.”

This is such a simple concept to hold, but one that is often forgotten when looking for investment ideas. Buffett talked about focusing on the “what” and not worrying as much about the “when”. In other words...


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