. The companies are well managed and the CEOs "did a lot of things right," he continued, but "the airline business ... changed in a very major way.", without detailing what it sold. Buffett attributed that figure to Berkshire's exit from the airlines.
Buffett explained the move by highlighting the airlines' bailout deals with the US government. Their agreements include billions of dollars in loans that they will have to repay, as well as warrants that the Treasury can exercise to acquire their shares at a discount in the future. The warrant part of the deal wasThe investor also questioned whether people will fly as much in the next two or three years as they did last year.
why drop those aerial moguls’ stocks now? jmyers42 lccc141
Don’t be too harsh on yourself if you make terrible stock pick. Even Buffett do that and make a U-turn.
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