One of the best returns – maybe even the best – that Warren Buffett has enjoyed came from his 1973 investment in shares of The Washington Post Company (WPC), which is now known as Graham Holdings Company. Back then, it was the publisher of the influential US-based newspaper, The Washington Post.  Buffett did not invest much in WPC. He controls Berkshire Hathaway and in 1973, he exchanged just US$11 million of Berkshire’s cash for WPC shares. But by the end of 2007, Buffett’s stake in WPC had swelled to nearly US$1.4 billion. That’s a gain of over 10,000%.   There are two fascinating facts behind Buffett’s big win with the newspaper publisher.  First, WPC’s share price fell by more than 20% shortly after Buffett invested, and then stayed there for three years. Second, WPC was a great bargain in plain sight when Buffett started buying shares. In Berkshire’s 1985 shareholders’...