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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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Warren Buffett Drops Walmart -- Signals Death of Retail as we know it
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To be a kind of moral Unix, he touched the hem of Nature's shift.
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(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.
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