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Tuesday, April 27, 2021 11:09:01 AM

Re: bar1080 post# 1555

Post# of 1659
Two of BRK's recent mistakes (selling out of the airlines last year near the lows and selling out of JPM) were amplified for me in the past few days. On Sunday we returned from a visit to Scottsdale, AZ. The traffic leading in to the drop-off at the terminals in Phoenix was total gridlock due to the sheer numbers of vehicles trying to drop off passengers. When we got inside the American Airlines terminal it was the most packed I have ever seen anywhere in the world, short of maybe the Sunday after Thanksgiving. The lines to check in and check bags were unbelievable, and when we got to where we thought the line started they pointed and sent us back way down the terminal to the start of the line, which snaked all over the terminal until you reached the orderly maze to work through to get to check in. In short, the number of passengers trying to check in evidenced to me the huge numbers of folks wanting to get out and travel and every one of our flights have been completely full. Same reports from those that we were with who returned on United via the United terminal.

Then upon our return the JP Morgan Chase Proxy materials and annual report had arrived. Very impressive year in 2020 in spite of COVID and I will never understand why BRK got out of JPM where it did given that JPM bounced right back up above $150, in much the same way that the airlines recovered quickly and strongly after BRK got out way too low.

Warren, Ted and Todd are still my guys, and I will not sell any of my BRK holdings. But, these 2 mistakes leave me SMH.

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