Rangeley Capital's Portfolio Managers, Chris DeMuth and Andrew Walker, give some updates on the Viacom (VIA) / CBS (CBS) rumored merger as well as the brewing bidding war for Twitter (TWTR), with bidders ranging from Disney (DIS) to Google (GOOG) and Salesforce (CRM). Then, they discuss the WSJ article "Why it takes more than money to buy a special edition Ferrari (RACE)."