Originally Posted by
Probe
I was surprised when he bought the stock, frankly. He bought most of it late in an economic cycle, in an industry where the magnitude of the cycle is 3-5 times the underlying economy. He also bought DAL, which like AAL and UAL, spent the vast majority of their free cash flow on stock buybacks, which he publicly derides companies for doing.
Dumbest thing I have ever seen him do. Maybe the only dumb thing.
If this shutdown lasts much longer, it will take 18-24 months for air travel to recover. Air travel never bounces right back. 1/3 of the population won't have money to travel, and another 20% (retirees) won't want to get on an airplane until they get vaccinated.
He publicly derides many things that make his companies money(derivatives for one). He has spent a lifetime cultivating his humble, folksy airs but he’s just as hypocritical and ruthless as any other ‘titan of industry.’