Billionaire investor Warren Buffett, chairman of Berkshire Hathaway, told shareholders on Saturday that he had sold all of the company’s airline stocks, admitting that he had made a mistake and that coronavirus had changed the business in a “very major way.”Buffett confirmed that he had sold all of his stakes in the four largest U.S.
“It turned out I was wrong,” the Oracle of Omaha said, adding that he’d made an “understandable mistake” given the unforeseen downturn in the industry. “I don’t know that three, four years from now people will fly as many passenger miles as they did last year,” Buffett warned. “You’ve got too many planes.”“When we bought [airlines], we were getting an attractive amount for our money,” Buffett said. “It turned out I was wrong about that business because of something that was not in any way the fault of four excellent CEOs. Believe me. No joy of being a CEO of an airline.”That’s the value of stocks sold by Berkshire in the month of April.
The best of us make mistakes and admit them.
Let it be It's my play I need everything in my hand Tottal ctrl U can handle it I have faith I need sleep aftr that
jcid29
Thoughts n prayers
Otracaro
What a great man, ramble and fare. We need more business man like this.
Wonder if he will change is mind on rat errrrr, bank poison.
Cant blame him with them grounded until CopVid is over its a smart move some of us did it earlier 2008Recesssion was the car industry 2020 because everyone is a so called SBA owner who travel via the airways plane industry . ..I feel the shop guys at many AERO companies JCHFE31
В это тяжело поверить
Sell Coca - Cola too.
89 and still sharper than anyone in govt. That goes without saying tho
They should have been left to die then he could be major owner in bankruptcy
Wonder if he's rethinking his past statements about gold/btc?
By the way, I like the fun announcement by South West airline cabine attendant.
Crash coming?
What's brilliant about that? If he was a value investor or contrarian, he would actually be looking at names in the industry to accumulate.
I personally know Warren, i actually am his primary care doctor. He’s a good friend and a better person
He also made a mistake with Bitcoin
Yup you did.
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