To continue with what has become somewhat of a visits with Warren Buffett series today we've got the University of Chicago Graduate School of Business meeting with Warren Buffett. Andrew Van Fossen writes the story for the GSB News.

Here's an excerpt:

'To further describe his philosophy, Mr. Buffett explained that his investment decisions are based on identifying significantly undervalued companies that can offer substantial returns in the future. He recounted when he invested in The Washington Post in the early 1970s. At the time the company was valued at $100 million when it fell out of favor with President Nixon. He said, "If an auction for the company was held in the middle of the Atlantic Ocean on a cold winter day, people would swim out to bid at least $500 million for it," based on the Post's newspaper and television station assets. At the time, Mr. Buffett took a 10% position in the firm, which today is worth over $1 billion."

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