Sunday, May 03, 2020

Oracle of Omaha options...

I haven't mentioned the Oracle of Omaha for almost 14 years; Berkshire Hathaway Chairman Warren Buffett said [edit: he said yesterday] "that the conglomerate has sold the entirety of its position in the U.S. airline industry." This bodes badly for all airlines. From CNBC, "I think there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control,"

No kidding. Warren Buffett in March: "I won’t be selling airline stocks"... 50 days is a long time. To put that in perespective, last December BH Inc owned a 10% stake in American Airlines, 9.2% of Delta shares, 10.1% of Southwest Airlines shares and 7.6% of United. Needless to say the COVID-19 pandemic is the airline industry's worst-ever crisis, them and a few others!

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