The long awaited process of selling off the airline stonk began today.  The greatest covid play never got anywhere close to treasuries & probably never will in lion lifetimes.  Lions conceded to Warren Buffet that they would be better off if the Wright brothers just quit while they were ahead.

Watching Stig, Blanco, & Gryder were big motivations for dumping.  Lions don't believe the emphasis on seniority, labor unions, & pensions is going to pay off for the airline business.  The amount of labor involved & the downtime of that labor is insane.  Lions have always been in an industry with no rewards for seniority, no labor unions, & no pensions.  They're in a downward cycle for safety which probably won't end until there's another disaster.

Helas, etrade starts with the earliest position rather than the biggest capital loss.  It'll still be a capital loss deduction, but only a small one.  The big question was where to put the money.  Lions believe "report low, revise high 6 months later" will continue to be the inflation game, with selling before every report & pops after every report.  There's a chance there will be a correction followed by a big cut & a chance they'll just cut for shits & giggles, about equally likely.  They're not going up & lions pay a big tax price for keeping anything in a money market fund.  So into the hedge fund it went.

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Anyways, are all these animals remodeling because they want to get the new house look for the lower price of a fixer upper?  Lions noted the same row of houses has been in a continuous renovation cycle for the last 20 years.  Shortly after every renovation, they start over.  Not sure if they're rentals but they have never been sold.




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