Buffet Selling DAL and LUV blocks.

https://www.google.com/amp/s/www.ba...e-blocks-of-delta-southwest-stock-51585949991

 

They’re gonna need a bailout fast. Air travel is virtually non existent

 

Well. He might be selling to be less than 10percent for some regulatory reason (like if a bailout will affect owners >10percent or something), or he’s selling out which is a bad sign because typically they would be buying at today’s price for cashflow in 2024.

 

That's right.......then able to pick up the crumbs later for pennies on the dollar.

 

I remember Buffet swearing he would never touch the airlines again after losing several hundred million back in the 1990s. What does Buffet know selling near the lows? Berkshire has tons of cash, Buffet's lieutenants most see more pain coming.

 

He bought back in in 2015 or 2016 after there was a wave of consolidation that curtailed capacity.

 

He bought more delta at $45 in the first week of March.

 

Raising money to buy back BRK stocks.

 

At one of his annual meetings he said buying airline stock (US Air?) was one of his biggest mistakes. I guess he never learned.

 

He recently said that about NOT buying AMZN last year, IIRC. Maybe he is losing it?

Airline stocks are a bargain now. Like what, Airlines are all going to go away, and after the virus is done, people are going to go all Greta and just sail across the ocean on skiffs?

Oi!