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Business

Blue Chip Stamps Shareholder Letter, 1977

2 ideas

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  1. Newspaper prices bet on a long inflationary future

    “Recent buyers of newspapers have paid prices reflecting what they hope to achieve over a very long -term, inflationary future, and we, of necessity, conformed to this pattern in our acquisition.”

  2. Newspaper reading habits are hard to change

    “Newspaper habits are very hard to change, particularly in a city like Buffalo where almost all newspaper circulation is home -delivered.”

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