43-year-old Day-trader explains why he calls Warren Buffett a “fool”

Tram Ho

Dave Portnoy – founder of entertainment channel Barstool Sports and a prominent face on recent social networks and securities forums, continued to comment on the “steps” of billionaire Warren Buffet after He decided to sell all aviation stock. “He misjudged the American dream of flying in the sky,” the young day-trader told Business Insider.

Perhaps it is not necessary to argue too much that Portnoy has become a prominent name among investors in recent weeks as the surge in trading volume of day-traders has boosted the growth of the market. Stocks hit record highs and many long-term investors feared that the market bubble was inflated and could explode at any time.

Day-trader 43 tuổi giải thích lý do tại sao lại gọi Warren Buffett là kẻ ngốc - Ảnh 1.

Portnoy has attracted attention because of “aggressive” statements and videos that share investment secrets like “fighting” with the nickname “Davey Day Trader”. This 43-year-old day-trader once made investors “curious” to identify himself as “about to become a billionaire” and called the 89-year-old investment legend Warren Buffett “a fool”.

In an interview with Business Insider recently, Portnoy continued to “criticize” Warren Buffett – the greatest investor in history and questioned his most controversial decision in the past: sell out. stock of airlines due to concerns of negative effects from corona virus disease.

I think he caught the bottom this time. Basically, when Buffett said he wanted to pull out of aviation stocks, was that the bottom-fishing action for the industry? I don’t know whether those stocks does that increase by 200% or something like that after he withdraws , “Portnoy said.

Not only that, the day-trader emphasized: ” It is clear that he lost his magic and misjudged the market when he decided to withdraw from aviation .”

Airlines are considered to be the biggest victims of Covid-19 when nearly the entire industry had to halt operations due to a ban on moving and closing borders in most countries.

According to statistics from the National Aviation Security Administration, on April 14 – around the middle of the Covid-19 pandemic, the number of tourists transiting through US airports was less than 90,000 – down. 96% over the same period last year.

In early May, billionaire Warren Buffett’s announcement stated that Berkshire Hathaway had sold all its stakes in the four largest US airlines including American Airlines, Delta Air Lines, Southwest Airlines and United Airlines. shock “for investors. Many people ask whether this myth of Omaha’s investment made a mistake when selling off so soon?

Shares of United, Delta, American and Southwest lost 8 to 16% after the International Air Transport Association said 2020 could be ” the worst year in aviation history “. However, young individual investor Dave Portnoy still believes that aviation stocks had a higher growth than earlier this year.

I know aviation sales will fall this year due to unrecoverable travel demand. But I also expect revenue from other sectors, such as transportation, to offset. We need to You have to bet on that. Even if you want to believe that Warren Buffett will be right, it means that airlines are not just going down, but they are going to fall dramatically, “Portnoy said.

The investor even said, ” We need time to check and catch the bottom of the stock market if we want to prove Buffett right. Even if he’s right in the next few months but in the long run.” , I would certainly be more correct “.

I have kept air stocks for a while. I have not made any resale transactions on them. I only bought and held them. I know for sure that these stocks will bring me back.” profit, “said Dave Portnoy.

Earlier, in a video posted on June 9, Portnoy “confidently” asserted that he had “defeated” legendary investor Warren Buffett and caused him to be “swept away”.

Buffett was a great person, but when it comes to stocks, he was swept away. Now I have become the captain on the stock market ,” the 43-year-old day-trader said.

Meanwhile, Wall Street observers still have two opposite opinions. One side agreed with the decision of Warren Buffett and one side said that he had made the “biggest mistake of life” when selling off airline stocks.

In an interview with CNBC, US President Donald Trump once said that ” Warren Buffett made a mistake when he sold all aviation stocks “; while billionaire investor Ken Fisher suggested that Buffett should explain why he didn’t make any acquisitions during the recent sell-off in the market.

On the other hand, Jim Cramer – billionaire investor and host of “Mad Money” of CNBC said that the market is being “bruised” because ” everyone thinks they are smarter than Warren Buffett. “.

Also in a conversation with Business Insider, Portnoy revealed that buying shares of shipping lines such as Carnival or Norwegian could be a wise decision at the moment. ” Shares of shipping lines are worth buying at the moment, similar to airline stocks. Although the buying volume is not as much as last month, you can still buy it, ” the emerging investor said. know.

Meanwhile, Carnival – the largest shipping company today – has recorded a net loss of $ 4.4 billion. Its share price also dropped 62% compared to the beginning of the year.

Refer to Business Insider

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Source : Genk