since 2013, and the stocks have endured up-and-down performance over the last few years. But Miller says the airline business is in much better shape than it was years ago, partly because of consolidation.
Those views can change slowly. Miller says he asked Warren Buffett in 2016 if he was thinking about adding airlines to Berkshire Hathaway's portfolio. He says Buffett rejected the idea, but not long after, Berkshire became Delta's biggest shareholder and one of the largest owners of United and American as well.
Meanwhile Teva, discussed previously, made "some of the worst acquisitions in history" according to Miller, and its stock has fallen from over $70 in mid-2015 to about $10 a share today. He says Teva has a strong new management team and thinks it will climb as Wall Street watches the turnaround work.. After a much-hyped debut, the stock plunged from $28 in March 2019 to as little as $8 last fall. He says he invested at that time, and the stock has now risen to around $12.
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