- Mar 19, 2006
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wrong forum..
but what the hell...
http://www.msn.com/en-us/money/comp...s-we-know-it/ar-AAmWKmg?li=BBnbfcL&ocid=HPDHP[h=1]Warren Buffett just dropped Walmart and signaled the death of retail as we know it[/h]Business Insider Ashley Lutz
Warren Buffett's Berkshire Hathaway just sold off $900 million of Walmart stock, choosing to invest billions in airline stocks instead.
The sale, which leaves Buffett with nearly no shares in Walmart, comes as America'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. Buffett last year acknowledged that traditional brick-and-mortar retailers were struggling in the face of competition from the e-commerce giant.
"It is a big, big force and it has already disrupted plenty of people and it will disrupt more," Buffett said at his annual shareholders' meeting in 2016, according to Bloomberg. Buffett's been paring his stake in Walmart since then. He first bought shares in the retailer back in 2005.
He also noted that Amazon's competitors, "including us in a few areas, have not figured the way to either participate in it, or to counter it."
Since the end of 2014, Walmart shares have fallen 21% compared with a 119% jump in Amazon.
but what the hell...
http://www.msn.com/en-us/money/comp...s-we-know-it/ar-AAmWKmg?li=BBnbfcL&ocid=HPDHP[h=1]Warren Buffett just dropped Walmart and signaled the death of retail as we know it[/h]Business Insider Ashley Lutz
Warren Buffett's Berkshire Hathaway just sold off $900 million of Walmart stock, choosing to invest billions in airline stocks instead.
The sale, which leaves Buffett with nearly no shares in Walmart, comes as America'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. Buffett last year acknowledged that traditional brick-and-mortar retailers were struggling in the face of competition from the e-commerce giant.
"It is a big, big force and it has already disrupted plenty of people and it will disrupt more," Buffett said at his annual shareholders' meeting in 2016, according to Bloomberg. Buffett's been paring his stake in Walmart since then. He first bought shares in the retailer back in 2005.
He also noted that Amazon's competitors, "including us in a few areas, have not figured the way to either participate in it, or to counter it."
Since the end of 2014, Walmart shares have fallen 21% compared with a 119% jump in Amazon.
