“Nobody in their right mind normally fades Mr. Buffett, but with that being said, I think people are buying these and saying, ‘OK, this has to be a longer-time-frame investment,” Kinahan said Monday on CNBC’s “Closing Bell.”
“I don’t think you’re buying these thinking that that business is coming back immediately,” he added.
The legendary investor Buffett announced Saturday that Berkshire had exited its positions in the four largest U.S. carriers: American, Delta, United and Southwest.
“The world has changed for the airlines. And I don’t know how it’s changed and I hope it corrects itself in a reasonably…