Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Warren Buffett says he avoided bailing out the 'big 4' airlines by dumping their stocks last spring

Published by Business Insider on Sat, 01 May 2021


<p><strong><img src="https://static5.businessinsider.com/image/5f3e789b42f43f001ddfdf92-2400/ap948207397184.jpg" border="0" alt="warren buffett" data-mce-source="AP Images" data-mce-caption="Warren Buffett"></strong></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>Warren Buffett says he avoided a big bill by selling the "big four" airline stocks last year.</strong></li><li><strong>The US government might have refused them aid if Berkshire still owned their stocks.</strong></li><li><strong>Berkshire sold bank stocks to reduce its exposure to the industry, Buffett said.</strong></li><li><strong><strong><a href="https://www.businessinsider.com/'hprecirc-bullet">See more stories on Insider's business page</a>.</strong></strong><hr></li></ul><p>Warren Buffett avoided having to bail out the "big four" US airlines by <a href="https://markets.businessinsider.com/news/stocks/why-warren-buffett-invested-big-4-airlines-sold-them-loss-2020-5-1029167021">selling their stocks</a> last year, he said at Berkshire Hathaway's <a href="https://markets.businessinsider.com/currencies/news/warren-buffett-charlie-munger-berkshire-hathaway-annual-meeting-live-updates-2021-5-1030373616">annual meeting on Saturday</a>.</p><p>The famed investor said that the federal government might have refused to help Delta, Southwest, American, and United last spring if Berkshire still owned between 8% and 11% of them. US officials might have told them to get the money from Berkshire, which boasted more than $120 billion of cash and short-term investments at the time.</p><p>"You're looking at probably a different result than if we had kept our stock," Buffett said.</p><p>Buffett offered other fresh insights into his thinking at Berkshire's meeting. For example, he explained why Berkshire <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-sells-jpmorgan-wells-fargo-buys-barrick-gold-2020-8-1029506182">eliminated its Goldman Sachs position</a>, slashed its <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-built-8-billion-jpmorgan-stake-slashed-2020-11-1029846193">JPMorgan</a> and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-cuts-wells-fargo-stake-17-years-2020-9-1029566739#">Wells Fargo stakes</a>, and took a knife to several other financial holdings last year.</p><p>"We didn't like having as much money in banks as we had at the time," Buffett said.</p><p>The Berkshire chief also commented on how tight liquidity became before the Federal Reserve stepped in to help last year.</p><p>"They took a market where Berkshire couldn't sell bonds a day before, and turned it into one where Carnival Cruise or whatever could sell them," Buffett said.</p><p><a href="https://markets.businessinsider.com/news/stocks/warren-buffett-avoided-bailing-out-big-4-airlines-sold-stocks-2021-5-1030373622#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-parasite-delivered-one-of-the-best-twists-in-cinema-2020-2">What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence</a></p>
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs