Airlines are the Worst Business

"The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down."

- Warren Buffett

Investing in Airlines was one of my biggest mistakes. And it was the biggest mistakes of may capitalists including Warren Buffett

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