“Retailing is like shooting at a moving target,” Warren Buffett said in 2005, questioning whether it’ possible to save a retailer once the rot sets in. Warren Buffett’s Berkshire Hathaway just sold off US$900 million of Walmart stock, choosing to invest billions in airline stocks instead.

Warren Buffett’s Berkshire Hathaway has sold off $900 million of Walmart stock, choosing to invest billions in airlines instead. 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.