Millions of Robinhood value investors were caught bag holding airline stocks over the weekend. At the Berkshire Hathaway annual shareholder meeting Saturday, Warren Buffett announced that Berkshire Hathaway had sold all its airline positions.
“I’m outraged”, claimed Chad Johnson, PM of value investing firm Oak Riverstone Capital. “Part of my stock selection process is looking through 13F’s of famous investors like Warren Buffett and Mohnish Pabrai. It’s so I don’t have to do any due diligence.”
Chad is just one of the many frustrated value investors who were following Buffett’s every move. Other retail investors such as Benjamin Grayson are wondering the same. “Where did we go wrong? Following Buffett is a sure-fire way to get rich. Even Mohnish Pabrai says cloning is the best way to wealth.”
Recent video on Twitter shows retail investor David Lewis burying a copy of the book “The Warren Buffett Way”. It was posted with the caption “You know what, I’ve had enough. After going long airlines in my Robinhood account, Buffett sells them!!! Oracle of Omaha my a$$.”
Clearly, investors are upset after the Berkshire Hathaway meeting. Rumors are that many value investors are devastated by the news that they cannot be Warren Buffett.
By David Lewis