Warren Buffett says Berkshire sold all its airline stocks because of the coronavirus

Was right about to post this article. Glad I didn't buy any airline stock. Have 2 friends who recently bought Boeing. I dont envy them. It being Buffet, there will undoubtedly be a lot of people following his lead come Monday.
 
I got spirit for $10, and DCF says it's worth at least triple that given any plausible amount of losses this year.

They're the low cost provider, like walmart / costco / standard oil. Big margins despite having the lowest prices. The inefficient+unprofitable airlines will die first leaving more market share for spirit. Same reason I should never have shorted XOM.
 
Bugsy said:
Was right about to post this article. Glad I didn't buy any airline stock. Have 2 friends who recently bought Boeing. I dont envy them. It being Buffet, there will undoubtedly be a lot of people following his lead come Monday.
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I had been waiting to buy BA. The airlines might drag BA with them and I'll be able to get in at a cheap price soon.
 
Amun Ra said:
Monday is going to be a bloodbath in the airlines. The question is, how low will they go before it's time to buy.
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I'd find the airline with the best PR to date. American Airlines has had a slew of bad press the past couple years. Unsure where the rest rank.
 
Buffett WAS the greatest, but he hasn't had an edge since 1998. He's too old and too wedded to holding no matter how absurdly overpriced his assets are (KO). Peter Lynch wisely retired before losing it.
 
Amun Ra said:
I had been waiting to buy BA. The airlines might drag BA with them and I'll be able to get in at a cheap price soon.
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Oh I'm sure Boeing will be dragged down. Less need for new planes all across the board, and Buffets words will stain the entire industry.
 
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