By Rob Otman Another insightful Berkshire Hathaway shareholders meeting has come and gone. And we got an answer to one big question. Why did Warren Buffett sell airline stocks? Berkshire sold its stake in the top four U.S. airlines.
That included the sale of Delta Air Lines (NYSE: DAL), American Airlines (Nasdaq: AAL), Southwest Airlines (NYSE: LUV) and United Airlines (Nasdaq: UAL). Beforehand, Warren Buffett’s company owned roughly 10% in all four airline stocks. So this was a big portfolio move.
Before we jump into why this happened, it might be good to review some of Warren Buffett’s timeless wisdom from over the years. You …read more
