As the song goes, "Call me irresponsible..." In the wake of the largest one-day point loss in the history of the Dow, I just placed a modest investment in the stocks of six large U.S. airline companies. In the past 30 days, these six airlines have lost between 40% and 60% of their market value to the coronavirus. Although I read some discussion earlier in the day about possible airline 'bankruptcies,' I quickly gained some confidence when I heard that Trump was reacting very favorably to the airline industry's proposal for a $50 billion aid package.
I was extremely lucky to dump all my stock holdings at the start of the crisis, so now I figure I can dabble a bit on the "wild side" with an amount that wouldn't hurt too bad if it all went down the toilet. Fingers crossed.
Airlines??? I salute your magnificent testicles!! Global travel/holidays/business visits are fecked.
There was some discussion earlier about investing in equities akin to gambling but bugger me investing in airlines right now is nothing more than a pure punt. Those massive wheelbarrow balls will be tiny little peanut balls soon.