Let's face it, airline stocks have been big losers in 2005. In fact, hammered by fuel prices and poorly funded pension plans, they were losers in 2004 too, not to mention 2003. But that hasn't stopped hedge fund managers from selectively pouring in the cash and making money by timing when one of these battered names is about get a lift.
At least that's what the smart money is doing. In this case, the smart money is Steve Cohen at SAC Capital Advisors, which has more airlines in its portfolio these days than some major