Towson’s Advice For Forbes’ New Owners: Call Munger

A group of Hong Kong investors have purchased Forbes for US$475 million (HK$3.68 billion), roughly 25x 2012 earnings in a challenging industry, so value oriented private equity investor and Peking University professor Jeffrey Towson, author of What Would Ben Graham Do Now?: A New Value Investing Playbook for a Global Age, has some urgent advice for them: call Charlie Munger. Munger’s Daily Journal Corp follows the Berkshire Hathaway model “One of America’s leading capitalist publications is now a Hong Kong company,” Towson writes in the South China Morning Post. “But before the new owners go chasing any growth plans, they should…