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posted by on Thursday February 16 2017, @06:20AM   Printer-friendly
from the the-wizard-of-omaha-is-never-wrong dept.

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?


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  • (Score: 2) by tangomargarine on Thursday February 16 2017, @05:00PM

    by tangomargarine (667) on Thursday February 16 2017, @05:00PM (#467867)

    Seriously: go read the Wikipedia article. He's not just rich; he's demonstrated he's an excellent investor.

    --
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  • (Score: 0) by Anonymous Coward on Friday February 17 2017, @02:40AM

    by Anonymous Coward on Friday February 17 2017, @02:40AM (#468054)

    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]