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Warren Buffett makes a bet on US airlines

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Warren Buffett once called airlines a "bottomless pit." Now, he's betting on them.

During the third quarter, Buffett's Berkshire Hathaway bought shares of American Airlines, United Continental and Delta Air Lines.

The company also reportedly invested in Southwest Airlines after the quarter ended.

The investor has not signaled why he had a change of heart.

Read more from CNNMoney.

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