"Warren Buffett: ‘I won’t be selling airline stocks’"
Warren, noooo....I get emotional. Here's CNBC, April 4:
Here's what Mr. Buffet told Fortune magazine: in 1999...Move on to failures of airlines. Here’s a list of 129 airlines that in the past 20 years filed for bankruptcy. Continental was smart enough to make that list twice. As of 1992, in fact--though the picture would have improved since then--the money that had been made since the dawn of aviation by all of this country’s airline companies was zero.Mr. Buffett repeated the sentiment on the 2003 centenary of Orville's first flight.
Absolutely zero.
I like to think that if I’d been at Kitty Hawk in 1903 when Orville Wright took off, I would have been farsighted enough, and public-spirited enough--I owed this to future capitalists--to shoot him down. I mean, Karl Marx couldn’t have done as much damage to capitalists as Orville did.
Then in the 2007 Chairman's letter to the shareholders of Berkshire Hathaway....
- According to regulatory filings, Berkshire sold nearly 13 million Delta shares for about $314 million and roughly 2.3 million Southwest shares for about $74 million.
- The sales were conducted on Wednesday and Thursday, the filings show.
- Berkshire previously owned about 11.1% of Delta stock and 10.4% of Southwest stock, according to Refinitiv data.
- No reasons for the sales were given.
