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 RedGreen on Thursday February 16 2017, @04:15PM
"Have you ever heard of Warren Buffet?!"
So just because he is rich as fuck does not mean he cannot have a bad day at the office and be talking shit for brains foolishness.
"I modded down, down, down, and the flames went higher." -- Sven Olsen
(Score: 2) by tangomargarine on Thursday February 16 2017, @05:00PM
Seriously: go read the Wikipedia article. He's not just rich; he's demonstrated he's an excellent investor.
"Is that really true?" "I just spent the last hour telling you to think for yourself! Didn't you hear anything I said?"
(Score: 0) by Anonymous Coward on Friday February 17 2017, @02:40AM
When you are playing with the float of one of the largest insurance companies in the country it is easy to always come out ahead. He happened to notice the opportunity before anyone else. Remember berkshire hathaway is an insurance company. They were also one of the early investors into a tiny mom and pop shop named microsoft. They are still doing decent as he tends to invest only in businesses that are undervalued and could grow. When interest rates were 6-10% he could easy make money just by borrowing the float at 2%. He was one of the first to do it. Now all insurance companies do it. He has also used regulation to lock out competitors (see his rail moves with oil).
Oh no doubt he is good at what he does. His moves into larger companies show he actually has a problem. He ran out of places to put the money. That he is yanking it out of WMT shows he found somewhere else to put it. Follow that move and you could do fine.
http://www.berkshirehathaway.com/subs/sublinks.html [berkshirehathaway.com]
(Score: 0) by Anonymous Coward on Thursday February 16 2017, @05:20PM
Yes, he could have a bad day at the office. He could be making a mistake. Or he could be just plain wrong in this decision.
However, one thing you can't say is that "he has no clue." He's demonstrated time and again insight and foresight. Or are you suggesting he just "got lucky" over the period of decades?
Ignoring people who just win the lottery, people who climb from poor/middle-class to rich may not be the smartest or best people in the world, but they are also not clueless.
(Score: 2) by RedGreen on Thursday February 16 2017, @06:41PM
"However, one thing you can't say is that "he has no clue." He's demonstrated time and again insight and foresight. Or are you suggesting he just "got lucky" over the period of decades?"
Really when I think about it more I doubt he even said that, it is most likely some moron writing a click bait headline once they found out he/his company divested from it to pursue other higher return opportunities. After all he did not get rich holding onto to losers in the long run with no upside, I would think if the situation changes and he sees higher growth returning to the sector he will be jumping right back in.
"I modded down, down, down, and the flames went higher." -- Sven Olsen