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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




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  3. #2

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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.

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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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