Buffett Sells Delta Stock

Old Apr 4, 20, 7:09 am
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Buffett Sells Delta Stock

Buffett sells some of their Delta and SW stock. Underscores how the Wizard (right or wrong) sees the challenges facing the airlines for the next year+ as well as Boeing and Airbus (who announced production cut back of the a320 by 50%). Sorry to see this but its the new reality post virus.
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Old Apr 4, 20, 7:13 am
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How much is 'some'?

What proportion is it of DLs entire stock?
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Old Apr 4, 20, 7:25 am
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Looks like about $390M USD (about 13M shares) ... regarding significance - Market cap right now about $14B USD.....sell by Birkshire has overall negative impact on institutional investors for the company and the space. IMHO.
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Old Apr 4, 20, 7:56 am
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Wow. He just bought $45m in a month ago.
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Old Apr 4, 20, 9:15 am
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Originally Posted by bcj1949 View Post
Looks like about $390M USD (about 13M shares) ... regarding significance - Market cap right now about $14B USD.....sell by Birkshire has overall negative impact on institutional investors for the company and the space. IMHO.
That impact is not significant. What is significant is that they expect revenue to be down 90% this quarter. That's what's moving the needle.
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Old Apr 4, 20, 9:18 am
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Originally Posted by UKtravelbear View Post
How much is 'some'?
13 million shares. He still owns 58.9 million.

Originally Posted by UKtravelbear View Post
What proportion is it of DLs entire stock?
Roughly 2%. He still owns 9% or so according to my PDB napkin math.
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Old Apr 4, 20, 9:53 am
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Originally Posted by HDQDD View Post
13 million shares. He still owns 58.9 million.



Roughly 2%. He still owns 9% or so according to my PDB napkin math.
I call shenanigans. There’s no such thing as a PDB these days. (Your math and analysis appear otherwise correct)
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Old Apr 4, 20, 12:03 pm
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Maybe it had to do with the video leaking of DL management talking about how not to disclose positive employee cases...

After all, Delta has been marketing how they are all about safety - Delta clean, the fogging, and for us to trust them (this is literally the new logo on their website)

How can customers trust them if they have staff members with symptoms, and who are awaiting test results, that they are still allowing to fly?
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Old Apr 4, 20, 2:14 pm
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Originally Posted by btonkid12345 View Post
Maybe it had to do with the video leaking of DL management talking about how not to disclose positive employee cases...
Source? Google News search (not surprisingly) doesn't return anything of the sort. This smells like union propaganda to me.

Originally Posted by btonkid12345 View Post
How can customers trust them if they have staff members with symptoms, and who are awaiting test results, that they are still allowing to fly?
Hogwash. Why would an airline with more than half of it's crews idle (and remaining flights canceling left and right) do that? Answer: obviously they don't. Cui bono?

The virus doesn't discriminate by employer. At this point, everyone should assume that everyone else either has it, or has been around someone who has. Remember as much as 25% of infected never get symptoms, and even in those who do, it can be a week or more after you're contagious before symptoms present. If you must go out, take precautions.
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Old Apr 4, 20, 3:16 pm
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I believe Buffett is on the Delta Board.
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Old Apr 4, 20, 3:48 pm
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Originally Posted by bcj1949 View Post
Buffett sells some of their Delta and SW stock. Underscores how the Wizard (right or wrong) sees the challenges facing the airlines for the next year+ as well as Boeing and Airbus (who announced production cut back of the a320 by 50%). Sorry to see this but its the new reality post virus.
Do you mean Southwest (WN)?
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Old Apr 4, 20, 5:33 pm
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Head fake. Grabbing a capital loss perhaps (free money) and panicking people to sell, whereupon he swoops in. Stock dropped 8%. He will save a ton buying back in.

He sold less than 5% of his WN stock. Nothing.
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Old Apr 4, 20, 6:22 pm
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I'm still holding onto mine, even though I'm down $9 a share in the last 10 days. I assume it's going to drop further when they release what is sure to be a grim earnings report next week. I suspect it will probably hit $15-16 a share, at which time I'll hopefully not panic and will instead double my holdings at a significant discount.

Still hard to believe that we were at $50 a share a little more than a month ago. It's a good thing I'm not able to fly right now, so hopefully my savings will offset my losses from a brutal March.
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Old Apr 4, 20, 6:24 pm
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Originally Posted by rrgg View Post
Wow. He just bought $45m in a month ago.
He also bought in around $45 a share. That's a pretty big loss in a short time. Although I suspect that's equivalent to the change Warren Buffet might find in his couch.
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Old Apr 4, 20, 6:42 pm
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Originally Posted by HDQDD View Post
13 million shares. He still owns 58.9 million.



Roughly 2%. He still owns 9% or so according to my PDB napkin math.
Thanks. So not very much in the scheme of things
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