3 Reasons Warren Buffett Was Right to Sell His Airline Stocks
Over the past year, investors have routinely questioned some of Warren Buffett's investing moves, especially his selling of airline stocks in the early days of the pandemic. The price levels at which Buffett sold wound up being near the March and April 2020 bottom. As such, critics have called out Buffett for not following his own axiom, "Be greedy when others are fearful."
Yet when asked about it at the recent Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) annual meeting, Buffett's answer should have silenced all the naysayers. His answer made it clear that holding airline stocks in the context of Berkshire is a whole different ballgame from owning a few shares on Robinhood. Here are three good reasons Buffett was smart to sell the airlines, even at the bottom.
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Source Fool.com
