Grounded: keep away from airline stocks

Warren Buffett is not the only one who believes airlines are wealth destruction machines. Australian investors should not be tempted by Qantas or Virgin.

PORTFOLIO POINT: Don’t be tempted to get on board the wealth-destruction machines. A dollar invested in Qantas five years ago would now be worth 39¢; in Virgin Blue it would now be worth less than 24¢.

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