4 lessons for investors on the example of Warren Buffett's portfolio (4)

3. Do not be ashamed to change the point of view or your preferences
For a long time, Buffett did not hide hostility to airlines after the bad experience of purchase of bonds of US Airways in 1989. He called the airline industry "black spot for investors", and in 2002 gave a brief analysis of the sector:
We have fixed monstrous costs, powerful unions and commodity pricing. This is not the best recipe for success.
However, last September (! Suddenly) Berkshire invested not in one, but in four major US airlines: Delta (NYSE: DAL), Southwest (NYSE: LUV)), American (NASDAQ: AAL) and UnitedContinentalHoldings (NYSE: UAL). Then Berkshire doubled the rate in the last quarter, and now it is investing in the airline industry more than $9 billion, a little more than 6% of the portfolio. Times are changing, and it is natural that as circumstances change, and opinions. Do not be afraid to reconsider your views on the company or on the industry on the basis of new data.