Wednesday, February 15, 2017

Buffett Cashes out of @Wal-Mart Stock: I Guess Traditional Retail is Nearly Dead

It seems that Buffett has sold nearly all his Wal-Mart stock.
Warren Buffett's Berkshire Hathaway has sold off $900 million of Walmart stock, choosing instead to invest billions in airlines.
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.
The weird thing is Amazon is moving into the brick-and-mortar retail space. So both freight trains seem to be passing each other going separate ways. I would love to have an Amazon store where I can pick up things I ordered instead of having it delivered all the time.

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