Warren Buffett’s big bet on United Airlines could be costing him millions

By Tomi Kilgore Market Watch  Warren Buffett probably cringed more than most when he saw the video of a passenger being dragged off a United Airlines plane, because it could be costing him millions of dollars.

The famed billionaire investor’s Berkshire Hathaway Inc. BRK.B, -0.39%  became the largest shareholder by far of the United parent’s United Continental Holdings Inc.UAL, -0.37%  at the end of last year. Berkshire bought about 24.42 million United shares during the fourth quarter, to bring his stake to 28.95 million shares, or 9.2% of the shares outstanding, according to the latest filings with the Securities and Exchange Commission.
With United’s stock falling 81 cents, or 1.1% on Tuesday, Buffett could be losing about $23.5 million, if his holding remained unchanged. At the intraday low of $68.36, the stock was down $3.16, or 4.4%, and Buffett was losing $91.5 million.

With United’s stock falling 81 cents, or 1.1% on Tuesday, Buffett could be losing about $23.5 million, if his holding remained unchanged. At the intraday low of $68.36, the stock was down $3.16, or 4.4%, and Buffett was losing $91.5 million.

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