Profile image
By Off The Grid News
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Warren Buffett Just Sold $900 Million In Walmart Stock – What Does He Know That We Don’t?

Thursday, February 16, 2017 20:58
% of readers think this story is Fact. Add your two cents.

Warren Buffett Just Sold $900 Million In Walmart Stock – What Does He Know That We Don't?

NEW YORK — America’s most successful investor is among those who think the nation is on the verge of a “retail apocalypse” that might devastate hundreds of communities.

Warren Buffett has sold almost all of his Walmart stock, which was worth $900 million, Business Insider reported. Buffett had been a major investor in the world’s largest retailer.

Buffett seems to be among those who believe that traditional brick and mortar retailers cannot compete with Amazon. He started selling his Walmart shares last year after calling the ecommerce giant “a big, big force” that “has already disrupted plenty of people, and it will disrupt more.”

Get Out Of The Rat-Race And Make Money Off-Grid!

Buffett has been investing in Amazon since 2003, when he bought $98.3 million worth of that company’s junk bonds.

Traders tend to watch Buffett’s financial moves. Twelve years ago he predicted the problems Sears and Kmart are now having. Sears, the owner of Kmart, is in the process of closing 196 stores because of massive losses. In 2005, Buffett told University of Kansas students that Sears’ acquisition of Kmart would fail.

He also predicted the problems that many department store operators are having. Macy’s is planning to close 68 stores, and retail analysts expect J.C. Penney to start closing stores soon because of poor sales.

Walmart eliminated 7,000 accounting and invoicing positions in its stores last year and will lay off around 1,000 people at its headquarters in Bentonville, Ark., this year.

What is your reaction? Share it in the section below:

Learn How To ‘Live Off The Land’ With Just Your Gun. Read More Here.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question Razz Sad Evil Exclaim Smile Redface Biggrin Surprised Eek Confused Cool LOL Mad Twisted Rolleyes Wink Idea Arrow Neutral Cry Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.