Buffett says Delta purchases put him above 10% by mistake
Warren Buffett said Berkshire Hathaway’s investment in Delta Air Lines rose above his comfort threshold by mistake. The stake climbed when Delta bought back its own stock and Berkshire increased its holdings. Buffett spurned the airline industry for years after what he acknowledged was a bad bet on US Airways Group in 1989. But he’s been piling into airline stocks since 2016, buying up stakes in Delta, Southwest Airlines, American Airlines, and United Continental Holdings. Buffett has been on the hunt for an “elephant-sized acquisition” to spend some of his more than US$100b cash pile. Those ambitions had been hindered by “sky-high” prices for many businesses. He’d previously said he wouldn’t rule out owning an entire airline, and his recent wagers in the industry fuelled speculation he had an appetite for such a deal. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-03-29/sky/buffett-says-delta-purchases-put-him-above-10-by-mistake
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Buffett says Delta purchases put him above 10% by mistake
Warren Buffett said Berkshire Hathaway’s investment in Delta Air Lines rose above his comfort threshold by mistake. The stake climbed when Delta bought back its own stock and Berkshire increased its holdings. Buffett spurned the airline industry for years after what he acknowledged was a bad bet on US Airways Group in 1989. But he’s been piling into airline stocks since 2016, buying up stakes in Delta, Southwest Airlines, American Airlines, and United Continental Holdings. Buffett has been on the hunt for an “elephant-sized acquisition” to spend some of his more than US$100b cash pile. Those ambitions had been hindered by “sky-high” prices for many businesses. He’d previously said he wouldn’t rule out owning an entire airline, and his recent wagers in the industry fuelled speculation he had an appetite for such a deal. <br/>
