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The move was announced during the annual meeting of its Berkshire Hataway, the first virtual in history, in which the Omaha Oracle explained that the companies’ business has changed radically after the Covid 19 pandemic. Best investor in history to choose companies capable of constant growth, preferably in mature sectors and without risk of bubbles, a fairly clear judgment has come about the future of the flight industry.
The shares of the four operators accounted for the majority of Berkshire’s 6.5 billion share sales in April. Of those four companies, Buffett admitted, “there have been losses and it was my mistake.” On several occasions, remember BloombergThe billionaire was fascinated by the airplane business. So much so that it is assumed that sooner or later he would have owned one of the companies. In Delta and Southwest it has reached over 10% equity and Berkshire’s ‘flying’ investment package in late 2019 was worth tens of billions.
Now, after the virus that upset travel and tourism prospects, “the future is much less clear to me,” he said.
Buffett, on the other hand, allowed optimism to seep into the American economy as a whole: It will also overcome the coronavirus, “nothing can stop the United States.” The finance guru recalled the “miracle of America that has always prevailed and will continue to do so. He was convinced of this during World War II, of the missile crisis with Cuba, September 11, and the financial crisis.” Buffett admitted that recovery will not be easy, but in one thing he showed no doubts: “If you had chosen a day and a place to be born, you would not choose 1720, 1820 or 1920. You would choose today and you would choose America. Since America was founded, all they have always wanted to come here. “
