I belive it was Warren Buffet that pointed out that the airline industry has not even broken even, as an industry, since Wilbur and Orville first skimmed the sand dunes at Kitty Hawk. If you're not in a position to be upstreaming a portion of the cash flow, you're NOT going to make any money on your investment. That is, of course, in the long term buy and hold sense. There are individual market timers (shudder) that make money on their stock bets.