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  • AlbertaSunwapta commented on Jonathan Poland's article 11-29 14:35
    Buffett Has Fallen Into a Value Trap Again
    Warren Buffett (Trades, Portfolio) on airlines at the start of the century: “If a capitalist had been present at Kitty Hawk back in the...
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    AlbertaSunwapta 11-29 14:35
    • Why airlines? First I presume they are cheap in the mind of someone at BRK. 

      Massive infrastructure spending on: "highways, bridges, tunnels, airports, schools, hospitals".

      1 Catching up on the forever deferred repairs to roads and bridges will cause transportation nightmares. 

      2. Several recessionary years of joblessness, recovery from failed housing investments, deferred vacations, aging baby boom bubble, massive new government spending, etc all point, in my mind, towards a lot of potential pent up demand for travel.

      Moreover, in a stronger economy, people have the money but not the time (same situation with early retirees) and so they travel by plane rather than by car. 


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