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America giving thumbs down to absurd airfares; United is 99.2% owned by quick buck hedge funds

Discussion in 'General Discussion | Travel' started by ahappyelite, Jul 12, 2018.

  1. ahappyelite

    ahappyelite Silver Member

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    United stock plummeting as America says no to the ridiculous airfares that have thwarted millions from flying this summer of 2018. If you want the recipe for destroying air travel it is: 1. A corrupt government 2. Devotion only to destroying the product by bleeding passengers so you can deliver profits to hedge fund hucksters.
    Good news is it is not working as America gives the cartel a well deserved middle finger. United losing more than 3% yesterday as the aeroscammeros have made the prospect of a trip to the airport and a futile search for reasonable fares a total turn off.
  2. Counsellor
    Original Member

    Counsellor Gold Member

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    Contrary to the title of the article you cite, 99.2% of the stock is not owned by "quick buck hedge funds".

    I'm not sure about Primecap Management Company, which seems a bit murky to me (but that may just be my lack of sophistication), but one of its main functions seems to be to manage three Vanguard mutual funds, not the usual job of a hedge fund.

    Berkshire Hathaway is an insurance company, under whose umbrella are a number of corporate investments, most of which were acquired to be held for the long term (remember Buffett's answer when asked his expected length of holding an investment, to which he replied, "Forever!"). Again, not the modus operandi of a hedge fund.

    And finally, Vanguard Group runs the Vanguard family of mutual funds. That's "mutual funds", not "hedge funds".

    Don't confuse "institutional investors" and "hedge funds". Perhaps most hedge funds could be called "institutional investors," but not all institutional investors are hedge funds by any means. Many are pension funds, mutual fund companies, schools (Harvard is an institutional investor for its 4.4 billion dollar endowment fund), and of course, insurance companies who are looking for a safe place to store and grow the premiums they take in. Almost all of these are looking to earn some money on their investments, but they do not accept the sort of risk hedge funds do.

    Calling institutional investors such as these "quick buck hedge funds" is not just gratuitously pejorative, it lessens the credibility of your legitimate complaints.
    anileze likes this.

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