Retirement annuities

UAs – die bestes

I think you’ve seen that with Warren Buffett two years ago when Covid hit, and he realised that airlines are going to be challenged to the point that they may actually go out of business.

He’s actually proven to be wrong on that point; they didn’t go out of business. But he knew that airlines may never be the same again and they may actually go into bankruptcy.

When he felt that what he was seeing from Covid was disconfirming his theory, he lost a lot of money, but he cut his position completely.

And that’s how we felt with Tiger Brands. We just cut it.