Why predict bottoms? Also, what happens to US airlines usually effect all of the world's airlines as well. Its a global economy...Less people are flying. Americans also dont just use American companies. Everyone is hurt.
Monday June 23, 2008 http://biz.thestar.com.my/news/story.asp?file=/2008/6/23/business/21600411&sec=business
OK, let's hope these guys have it right. Because for the last year I have seen quotes on ET regarding Rogers and "airlines", referring to stocks rather than bonds. The initial recommendation was bonds. I note this link didn't quote anything by Rogers saying he was in "airline stocks". Rather, THEY say he is in airline stocks. You could be saying these sorts of things about airlines and buying bonds as well. This news source could be making the same error that the many ET posters have made. I make the distinction because Rogers doesn't only buy stocks. I recall the time that Rogers was bullish on sugar. But he didn't buy sugar. He bought seats on the New York Coffee and Sugar Exchange. Anyone with any direct quote that Rogers is buying airline STOCKS? OldTrader
The golden rule of investing: Never buy what you don't understand and never buy airlines. High capital requirements and low margins make for bi-annual trips to bankruptcy court.
He stated on Bloomberg this morning that he is buying airline stocks but NOT US airlnes . . . wonder why? hehe
June 6 http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aaT7JtFR5zZk LIU: Okay. Okay, well, given that scenario, Jim, as an investor, where are you going to put your money right now? ROGERS: I own commodities, I have been buying agriculture, I bought airlines today. I bought a lot of airlines around the world today, both stocks and bonds.