Warren Buffett exits Walmart
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.