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: 4, Interesting) by nobu_the_bard on Thursday February 16 2017, @02:11PM
Or it could be that he can make more money investing in airlines? That Wal-Mart is not the largest possible growth opportunity for Warren Buffet does not mean it's going to die soon. If it dies, it'll be a long and slow process.
Look at K-Mart; the downtown area near me would be better off if someone would deliver a coup de grĂ¢ce to them already, but those guys are STILL hanging on, if only just barely.