When Buffet speaks, people listen:
Warren Buffett's Berkshire Hathaway has sold off $900 million of Walmart stock, choosing to invest billions in airlines instead.
The sale, which leaves Buffett with nearly no shares in Walmart, comes as the US's largest traditional retailer has been rushing to catch up to Amazon and other online competitors.
Amazon's market value is now $356 billion, compared with Walmart's $298 billion. Last year, Buffett acknowledged that traditional brick-and-mortar retailers were struggling in the face of competition from the e-commerce giant.
Yes, but is he still long on Big Cola?
(Score: 0) by Anonymous Coward on Thursday February 16 2017, @06:38PM
Maybe his comment is aimed at the writer not the investor. Buffett will simply move his money to a place where he sees more growth potential so his ROI is higher. It doesn't mean brick-and-mortar will disappear.
Last time someone told me brick-and-mortar stores would soon be out of business was sometime around the year 2000 and the ass-hat sold .com stocks for living. The day he had to pack a box after the bubble burst was quite refreshing.