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buffette sells US airlines stocks

  • 03-05-2020 9:57pm
    #1
    overkill602
    Registered Users Posts: 267 ✭✭


    I would love to know what he bought?
    am big in amzn hope he has gone there.
    hard to see AA go but many will


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,419 Mod ✭✭✭✭Jim2007


    overkill602 wrote: »
    I would love to know what he bought?
    am big in amzn hope he has gone there.
    hard to see AA go but many will

    Given the nature of his business, I’d expect he is going to need a lot of cash to meet claims in the coming months and years.


  • #3
    robman60
    Registered Users, Registered Users 2 Posts: 2,226 ✭✭✭robman60


    overkill602 wrote: »
    I would love to know what he bought?
    am big in amzn hope he has gone there.
    hard to see AA go but many will

    He is adding it to the pile of cash. I don't think he'd go into amazon as it hits all time highs. Great company but extremely high valuation at present.

    Edit: what claims is he going to face?


  • #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,419 Mod ✭✭✭✭Jim2007


    robman60 wrote: »
    what claims is he going to face?

    Berkshire Hathaway's business is actually insurance not investing and big CAT and RE are a major part of that. In the past we know he has insured: airlines, Rockefeller Center, oil refiners, North Sea oil platforms, Sears Tower, the Winter Olympics and the World Cup, they are also very big players in the terrorism-insurance business, just to mention a few. So it should not be surprising if he has to make some major payouts this time around with so may airlines, events, businesses etc... in difficulty.


  • #5
    outonawing
    Registered Users Posts: 194 ✭✭outonawing


    overkill602 wrote: »
    I would love to know what he bought?
    am big in amzn hope he has gone there.
    hard to see AA go but many will

    He didn't buy anything yet, but has ample funds if an opportunity arises. He said that the Fed interceded early with cheap loans, so any companies needing finance could get it at rates that he could not match.

    Neither did he think that there would be seismic claims on the insurance side.


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