Originally Posted by
Beacon32
I read it a while back, It looks like it’s from Berkshire’s Vice Chairman, not Buffet, talking about historical railroad consolidation to four large railroads and how it relates to airline consolidation.
"It was a terrible business for about 80 years," Munger, 93, said at an event last week in Los Angeles. "But finally they got down to four big railroads and it was a better business. And something similar is happening in the airline business."
Thanks for that. Railroads have been one of their favorite investments and to even mention them in the same sentence as airlines is pretty incredible. I’m sure Buffet/Munger know what the next wave of consolidation will already look like.