Buffett's Portfolio Takes Another Hit as Wal-Mart Shares Plunge
- Berkshire Hathaway owns stake of more than 2% in retailer
- Munger has lamented not buying Wal-Mart stock sooner
Wal-Mart's Worrisome Stock Chart
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Billionaire Warren Buffett’s stock portfolio suffered another setback as Wal-Mart Stores Inc. plunged after predicting profit would decline in its next fiscal year.
Wal-Mart fell $6.70, or 10 percent, to $60.03 at 4:15 p.m. in New York. That translates to a one-day paper loss of more than $450 million for Buffett’s Berkshire Hathaway Inc., which had about 67.7 million shares as of June 30. Berkshire first reported a stake in 2005, and Vice Chairman Charles Munger has lamented that his company should have bought shares sooner.