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Thread: Warren Buffett

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    Default Warren Buffett

    Warren Buffett Dumps Delta Air Lines, Southwest Airlines As Coronavirus Pandemic Slams Industry

    Warren Buffett's Berkshire Hathaway (BRKB) has sold off millions of shares of Delta Air Lines (DAL) and Southwest Airlines (LUV) over the past few days, regulatory filings showed on Friday. That sent Delta stock, Southwest stock and other airline stocks lower after hours.
    https://www.investors.com/news/warre...220&yptr=yahoo


    Tom
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    Default Re: Warren Buffett

    I am assuming he sold at a loss. He obviously sees any gov. bailout diluting shares. Just like Cramer said, you don't want to own any cruise or airlines. Especially if the gov. will have an equity stake. But, what about BA? That seems to be doing OK. Won't the gov. have an equity stake in it? I did find this article pertaining to the gov. having an equity stake in BA:

    https://www.fool.com/investing/2020/...ity-stake.aspx

    Speaking on Fox Business on Tuesday, Calhoun reiterated his call for federal support, but said he might reject aid if it required selling an equity stake to the government. "If you attach too many things to it, of course you take a different course," Calhoun said.
    "Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7

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    Default Re: Warren Buffett

    Quote Originally Posted by Rod View Post
    I am assuming he sold at a loss.
    I think he bought it when the Wright Brothers were still running it.
    Tom
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    Default Re: Warren Buffett

    RE: Airlines. Insider selling has been rampant since February 28 but every one of them will claim it had nothing to do with market climate.

    UAL: Kirby Scott, President. Unloaded $1.024 Million worth of shares on February 28. Then on March 15, he announces this:

    We took early, aggressive action because we have been determined to do everything possible to avoid painful steps that affect your paycheck. But, based on the severity of the situation, that no longer appears realistic.

    This weekend, we began conversations with our union leadership about how to reduce our payroll expense in a way that minimizes what we know will be painful for all of us. Earlier this evening, we convened a call with Corporate Officers to update them on the severity of the situation and let them know we will be cutting their salary by 50%.
    https://hub.united.com/2020-03-15-a-...645495847.html

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    Default Re: Warren Buffett

    Quote Originally Posted by tsptalk View Post
    I think he bought it when the Wright Brothers were still running it.
    Likely.
    "Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7

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    Default Re: Warren Buffett

    From early March DAL filings. So yeah, it appears he lost around 50%. I wonder how many people plowed their savings into these sinkholes after seeing he started buying airlines in 2016 and I wonder how much of their 'bump' was due to him putting a stake in them.

    Berkshire acquired more than 976,000 shares for about $45.3 million, or an average price of $46.40, according to a filing Monday.
    https://www.thestreet.com/investing/...elta-air-lines

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    Default Re: Warren Buffett

    Speculation on the part of the author who, ironically, holds BRK.B shares. I'd rather see the old man making take some big equity stakes in other equities.

    Based on SEC filings, Warren Buffett may have bought back $5 billion in Berkshire stock.

    In the past, Buffett has said he would be willing to buy back shares, provided they traded at a compelling discount to the market. He initially set a metric of 1.1 times the company’s book value, subsequently raised it to 1.2, and ultimately revised it to the vaguely-defined “below intrinsic value.”

    This strict policy has resulted in a few small buybacks over the years, most notably in 2012 and 2018.

    We still don’t know with absolute certainty if Berkshire repurchased the “missing” $5 billion worth of shares. If it did, the firm waited for a reasonably attractive valuation – and a time when the worst of the pandemic uncertainty had passed.
    https://www.ccn.com/berkshires-rumor...arren-buffett/

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    Default Re: Warren Buffett

    Another $187M in BAC purchased yesterday.

    https://www.sec.gov/Archives/edgar/d...45X03/doc4.xml

    Closing in on 1B shares.


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    Default Re: Warren Buffett

    Past three days he purchased half a billion dollars more BAC. Now holds 1,019,267,705 shares - easily surpassing 1B.

    https://www.sec.gov/Archives/edgar/d...45X03/doc4.xml

    Buffet must see value here and that is good because markets will need financials to start trending upward if this is to continue.

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    Default Re: Warren Buffett

    See SEC Form 4's in previous posts.

    Time for sector rotation from tech to financials? These transactions aren't blind. I wouldn't be surprised if there are favorable terms in the new unemployment 'deal' for large banks.

    Warren Buffett’s Berkshire Hathaway Inc has spent $2.07 billion on Bank of America Corp shares since mid-July, after winning regulatory permission to increase what was already its largest common stock holding other than Apple Inc
    https://www.reuters.com/article/us-b...-idUSKCN2512AW

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    Default Re: Warren Buffett

    Wonder what they see in BAC as opposed to GS? Probably the 1MDB scandal for one.

    Big reason for the gains in Berkshire overall are the aggressive stock buybacks which nobody ever seems to criticize.

    Berkshire has been an active seller in some significant stock holdings during the pandemic. Berkshire sold out of all of its airline holdings and more recently, disclosed that it had slashed the bulk of its holdings in Goldman Sachs Group Inc. The firm has been buying shares of Bank of America Corp., according to regulatory filings.

    Berkshire increased its buyback plan in the quarter, adding about $5 billion of its stock. It purchased $1.74 billion in Berkshire stock a quarter ago. Berkshire went years without buying back its stock. Mr. Buffett has long argued that he could better increase shareholder value through investments than through buybacks or dividends.
    https://www.wsj.com/articles/berkshi...e_below_a_pos1

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