SURPRISING PURCHASE FROM A LEGENDARY INVESTOR
Today’s chart highlights a big change from a legendary investor…
Warren Buffett is widely considered one of the greatest investors of all time.
Since its inception, the firm has brought in about 18% returns annually for Buffett’s clients.
But even Buffett has struggled in certain industries…
Take airlines, for example. Buffett used to have a strict “no airlines” rule.
And he has joked about calling a hotline to “talk him down” before he bought any airline stock.
So it’s surprising to see that he recently invested about 6% of Berkshire Hathaway’s stock portfolio (about $9 billion) in airlines.
One of his top airline holdings is Delta Air Lines (DAL). Delta’s latest earnings report was optimistic, with double-digit operating margins and improved customer satisfaction. As you can see, Delta’s shares are up more than 25% in the past year… and recently hit a new all-time high. The airline business is known for its big “boom and bust” cycles. But with Buffett on board, it could be “boom” time for the airlines…
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Source: Daily Wealth’s Market Notes