Originally Posted by
Toruk Macto
Surprised he owned airline stock , on record saying airlines are crap businesses .
Trading the stock market or futures is nothing to do with profitability, it’s all based on buying for less than you sell or vice versa, no sentiment or loyalty, if you get it wrong, take it on the chin and move on. A week ago oil was being traded at a negative value because sellers could not find buyers at any price when the contract ended, it was only virtual oil there was no intention of delivering physical commodity.
Buffett is big enough to push the market price in either direction he may even have bought them for less and was taking a profit.