One of the most interest moves Warren Buffett has made in recent years is moving into airline stocks. This move is particularly interesting because Buffett has, since his mistake of investing in US Airways in 1989 ($358 million in 9.25% convertible preferred shares), avoided the airline industry like the plague.
Following in the footsteps of Warren Buffett with Hidden Value Stocks
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Q2 hedge fund letters, conference, scoops etc
In a 1994 talk at the University of North Carolina’s business school, when asked about why he invested in US Air, Buffett replied, "temporary insanity." He continued:
"There’s no worse business of size that I can think of...
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