Good written report of Warren Buffett selling Berkshire Hathaway’s entire stakes in American, Delta, Southwest, and United Airlines from Will Horton @Forbes,
Warren Buffett’s Berkshire Hathaway BRK.B has sold at a loss its entire portfolio of U.S. airline stocks comprising American Airlines AAL , Delta DAL Air Lines, Southwest LUV Airlines and United UAL Airlines.
“We put, whatever it was, seven or eight billion into it and we did not take out anything like seven or eight billion,” Buffett said during Berkshire’s annual meeting on May 2. “That was my mistake.”
“We have sold the entire positions,” he said. “When we change our mind we don’t take half measures or anything of the sort.”
And as I reported in an 2012 post talking about Carol Loomis’ Tap Dancing to Work,
“… the afterword for articles like “Buffett Hits $200 million Downdraft” (Nov 17, 1994) reminds readers that Warren actually made money on the USAir investment (which many people may have an impression of it being a money losing investment).”