Ok, so I read through the links...its raining and the dog got me up.  

The first is your own weak effort to describe what Buffet does.  It does not capture it at all.  Not even close.  Without an understanding of insurance balance sheets, reinsurance risk, internal leverage structures and other complex low beta plays you are way off base.  Fished in hook, line and sinker buy the buy and hold value mantra of Gillette and Coke.  Without the rest it is not a recipe for success.

But it is your second point that is a stunner.  Buffet owns community newspapers, including one in Buffalo.  He suggests that politics, sports and stock prices are lost to papers as a result of technological disruption.  He suggests that they focus on local issues.  Should the Toronto Star ignore Federal and Provincial issues and focus only on John Tory, tolls and other local issues.  Local sports, not national sports, so maybe the Marlies, but not the Leafs, the 905, but not the Raptors?