"The airline business from the time of Wilbur and Orville Wright through 1991 made zero money, net. If capitalists had been present at Kitty Hawk when the Wright brothers' plane first took off, they should have shot it down." - Warren Buffet, March 2001
Im guessing that "zero money net" was due to deregulation. I'm pretty sure it had to be profitable before that.
and gets to change his mind like he changes his socks - then tells the media after the fact. BRK is not as good as it was & maybe the oracle is losing his touch? Buffet needs to pull away from Gates to get closer to Simons, two old dogs can sit around the camp fire discussing how to manipulate the market
Out of my BA puts (am sure now it will accelerate the decline), met my profit target. Leaving part of UAL puts for some more time.
Looks like those UAL puts got destroyed today as the stock is up 21%+ My BA calls did nicely. They're back in the green today since I bought them.
Yea, it is a small position. UAL is going to go down further, but I got what I wanted. Got lucky closing all of BA puts and most of UAL position that day. Usually I am horrible at exits.
Yeah, you did. Especially since it was announced the Saudis just bought nearly a billion dollars of BA. I'm probably going to stay out of puts and shorts now. I don't want to fight the fed.
Boeing cuts Boeing will reportedly announce 2,500 voluntary layoffs this week, representing the first phase of broader cuts that will involve roughly 16,000 job losses in total. Boeing hasn't made major layoffs for a few years, but union officials expect the initial wave of the new cuts to focus on the firm's Seattle-area commercial planes operation. Wall Street Journal
Tariff threat The other reason for the drop, perhaps, is the possibility of the U.S. imposing new tariffs on EU products, as part of the dispute over subsidies to planemakers. The WTO had already agreed with the U.S. that the EU was illegally subsidizing Airbus, so now the U.S. gets to impose tariffs, and yesterday the U.S. Trade Representative revealed the potential list, covering products such as olives, chocolate and beer. The EU says this round of tariffs could go beyond what the WTO allows. CNN