No one knows where the share price will go. This year's results...

No one knows where the share price will go. This year's results were atrocious, culminating in the scrapping of the final dividend for the first time since the company went public.

I've been buying recently, because Warren Buffett loved IAG so much that 5 years ago he paid $5.57 per share for a stake in this company. By paying $4.84 I'm doing something smarter than Buffett, in an area where he's an expert at (insurance). At least that's what I like to tell myself. (yes, I know he's received divvies along the way, and there's been structural changes since then e.g. low interest rates... I still like the feeling of buying in cheaper than Buffett.)