Warren Buffett did invest in USAir many years ago via some preferred stock or convertible bond ... I think he got out at roughly breakeven thans to a big coupon on the debt ... So "NEVER" is not strictly true.
Disc: Hold 8,500 AIR NZ
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giday to continue ballers thread ...and call me old fashioned...but I heard yonks ago that every airline (other than those govt owned i.e. emirates,singapore,areoflot et al) go broke.
push up and sell..., good strategy the govt haha
Makes perfect sense to me STC
Thank you for posting
Thanks Sparky - Not that I have followed the Freelancer IPO but I noticed that they appeared to select the institutions that would get shares and gave the other institutions nothing. Not necessarily a 'fair' way to do it but the Govt/Treasury should have had an indication from the previous 2 floats which instos were supporting the floats and which were just stagging it.
It does seem that they were focused on just getting the highest price, wheras they probably could have been a bit more tricky and still got the same result.
Thanks Sparky - Not that I have followed the Freelancer IPO but I noticed that they appeared to select the institutions that would get shares and gave the other institutions nothing. Not necessarily a 'fair' way to do it but the Govt/Treasury should have had an indication from the previous 2 floats which instos were supporting the floats and which were just stagging it.
It does seem that they were focused on just getting the highest price, wheras they probably could have been a bit more tricky and still got the same result.
Good to hear from you, STC.
Reaffirms everything about Treasury which I have had experience with and heard about.
Really, Treasury are a bunch of pimpled faced kids let loose with the country's economic destiny and applying an efficient free market 'tried and failed' philosophy on everything.
I still remember one of the top NZ companies locating one of its plants (employing over 200 people) in Australia after Treasury advised the government that NZ government should not match the miserable $15m R&D funding promised by the Queensland government. Instead the idiots in there were busy recommending cutting back on government services and we saw one of the consequences with the Pike River tragedy.
One of the overseas bankers I met some years ago said she was horrified to meet the sort of staff at Treasury who are 'wet behind the ears' making policy decisions.
Arrogant and ignorant - that's how she summed them up.
Dangerous combination!