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: 2) by dry on Friday February 17 2017, @02:40AM
I'm rural, it's quicker to spend the 15 minutes to go to Walmart (actually their competition that is actually a minute further) then to load most web sites on my only choice of internet, namely dial-up at 5 min. a MB.
I could go half way, pay a fortune for cellular internet and strain to see the web pages on the phone.