War­ren Buf­fett ex­its Wal­mart

India Business Journal - - GLOBAL WRAP-UP -

War­ren Buf­fett's Berk­shire Hath­away has sold its last Wal­mart shares, ac­cord­ing to a fil­ing last month, end­ing a re­la­tion­ship that dates back more than two decades. The world's largest re­tailer was once one of Berk­shire's five big­gest eq­uity hold­ings as re­cently as 2014, val­ued at more than $5 bil­lion. But Ama­zon.com's en­croach­ment since then has prompted Berk­shire to pare down that stake. Buf­fett has long high­lighted the vul­ner­a­bil­ity of iconic re­tail­ers as mer­chants that lost their dom­i­nant po­si­tions. While Mr Buf­fett is known for stick­ing with stocks, like Coca-Cola, for decades, he is not wed­ded to favourites when cir­cum­stances change.

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