Warren Buffett's Berkshire Hathaway sells off airline stocks as airlines are hit hard by coronavirus

Berkshire Hathaway sold off millions of dollars in shares from airline companies Delta Air Lines and Southwest Airlines, after the coronavirus pandemic slammed the airline industry. Yahoo Finance’s On The Move panel breaks down the latest.
#WarrenBuffett #coronavirus #COVID-19

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[DavidBrooksNYC]

buffett: LOOKING Left --> Throws Right LOL !!

[sergioedhi]

I’m sure their play here is to cause others to sell, bring the stock price down to buy the hole company at a huge discount. Why own a piece of the pie when you can own the entire pie.

[quadcityracing]

Come on “yahoo finance”, he clearly sold to be under %10 so he wouldn’t have to report movement. Correct?

[SR-bhjd]

Why not? Time line is 12 months before they are back to 75%.

[mrleebaines]

i remember buffett saying never to go anywhere near airline stocks so i took his advice, then he went ahead and bought a load.? i got some Tesla stock i think this will go through the roof

[mhernandez]

You have to understand that the primary reason for selling was due to the dividend cut by delta. Most of his profit comes from actuals dividend payments! Long story short!

[abhishekphulari]

He is sitting with $128 billion in cash. He will be richest person in world if he can age 100

[Trillionaire]

There are no tax benefits or anything like that to go under 10%, that's just to manage risk and would make perfect sense to sell to do that in normal market conditions. Only logic is that he sold "at these prices" to go under 10% is to place a veil over what may be his selling and final exit from these companies until the next reporting period. Now he is able to unload without media reporting on every batch he sells and causing these stock's prices to tank. If you thought it may be to buy more, that's illogical as he would go back above 10% and go back to the reporting issue he sold to avoid in the first place.

[jazz]

I can't imagine someone betting against Buffet. A good investor changes his mind constantly depending on the market and company conditions. Also, why would he announce his sale until after he does it? But this is good information.

[Kvartira-dom-sochi-revizorro]

Americans tell me, right now Delta Airlines is working??? I mean between cities????

[valetudo]

Boggles my mind how they report this but don't know the reason he sold his stock is bc he's not allowed to own over 10% of the company so when prices fell and people sold - he was forced to sell by the FCC.

[damienadriene]

its quiet clear what happened with Buffett. if he says i am selling before he does he will cause the price to drop just with his announcement. he just protected his interest allowing him to get out with less damage to his capital

[robertotomas]

I got to imagine his expectation is that he did not sell low... which is kind of scary if you are in delta. Ual I hope is better off, although when you hear the comparison with Delta, The Delta has older equipment than United... And if you fly United that’s got to make you worry about Delta

[Peek]

He did it to get under 10%. He still owns loads.

[paulbacchus]

Mr Buffett is a clever guy and a cool dude but persoally I think airline stocks is a very dangerous
and risky business.
Paul Bacchus esq

[TheGamingBluejay]

You silly day traders at Yahoo trying to understand Buffett. Lol! This is not what he did

[christopherwalsh]

Buffet "I wont be selling airline stocks" lowkey: sells airline stocks!

[wilfriedvomacka]

Ok, so he changed his mind. No biggie.

[j.corona]

I personally like warren, however his mistake was not completing the airline buy. I personally would not have bought the airline cause I cannot change anything, fear overtook him, he can easily cause change now. Warren is full of cash cause he does not fully understand America, so he has to recant the how America is such a beautiful place story, 15mil. Louisiana purchase... Warren often reminds himself of his mistakes with Berkshire Hathaway. I like Warren. He’s just getting old.

[NickSmalin]

He probably didn’t sell them Initially because he wasn’t sure when the bounce would hit. He waited for the reversal and is selling them because he is predicting a re test of the lows honestly the perfect decision