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Warren Buffett Dumped All His Airline Stocks

To the tune of $4B amid pandemic fallout
By Polly Davis Doig,  Newser Staff
Posted May 3, 2020 7:11 AM CDT

(Newser) – More bad news for the airline industry: The Oracle of Omaha has jumped ship. Warren Buffett says that his Berkshire Hathaway has unloaded its airline stocks—to the tune of about $4 billion, reports CNBC. "The world has changed for the airlines," Buffett said during a much scaled-down very of Berkshire Hathaway's annual meeting on Saturday. "I think there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control." That said, he's not exactly hedging his bets: Berkshire dumped every last stock it held, which averaged about a 10% stake in each American, Delta, Southwest, and United. "When we sell something, very often it’s going to be our entire stake: We don’t trim positions." (Read more Warren Buffett stories.)

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