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Warren Buffett seem to get an easy pass on his mistakes while we scrutinize Prem Watsa too much. Warren wailed and railed on how bad the airlines have been for investors and capitalism for ever. "Buffett's first investment foray into airlines began with USAir preferred stock in 1989. While Berkshire made money on the dividends, Buffett himself would lament the decision for decades, casting aspersions on the low-profit, expensive nature of the industry." https://finance.yahoo.com/news/how-warren-buffetts-airline-stocks-have-performed-since-berkshire-hathaway-sold-them-134849843.html Suddenly one day, we learn that Warren Buffett is putting billions into a bunch of airlines and just as suddenly airlines become a great investment because Warren Buffett is investing in them. "All in all, the four largest airlines in the US, which also happen to be four largest in the world, are in a good place. Which is why all four warrant the investment from the Oracle of Omaha." https://finance.yahoo.com/news/warren-buffetts-10-billion-airline-174600273.html He liked Delta so much that even his own 10% limit rule got broken and then communicated like this: "What I didn't realize was that that purchase had taken us over 10%. I was already in territory I didn't plan to get, so I just decided to buy a whole lot more stock." https://www.gurufocus.com/news/898907/warren-buffett-on-his-10-rule Then, just as suddenly, in the depths of the pandemic, AGM 2020, we learn that Warren Buffett sold all the airlines near their bottom which made those airlines stocks crash even further right after. A year later we learn that the sale of airlines was for the good of airlines themselves, a form of charity for airlines at the expense of shareholder value. A fine moment of Buffett communication? I wonder how much of our Warren Buffett mesmerizing is attributable to make-up team of Betty Quick. Not hating Buffett at all. He is a great teacher by the way, I learnt from him and still learning. However, I would be on guard being brainwashed about anyone or calling them a Prophet or an Oracle!