Published: Wed, June 28, 2017
Markets | By Lucia Cruz

Warren Buffett still thinks retail has a chance

Warren Buffett still thinks retail has a chance

Buffett, who built Berkshire Hathaway Inc. into one of the world's largest companies, has long sought to separate politics from investing. The FTSE NAREIT Equity REIT Index is up 2.2% this year, while the FTSE NAREIT index for retail REITs is down 15% year-to-date. Store Capital focuses on transactions for single-tenant commercial properties, with occupants such as restaurants and supermarkets.

Store Capital shares rose more than 10 percent midday Monday after the news.

Berkshire, which held $96.5 billion in cash as of March 31, is actively seeking new investments for its growing war chest.

Berkshire Hathaway did not immediately respond to a request for comment.

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Mr. Volk first contacted Berkshire in 2014 using its public email address to suggest an investment opportunity.

When Woodruff asked whether the country needed to "think about some sort of single-payer system", Buffett said it would be the more effective way to bring down costs.

Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) eyed real estate investment trust Store Capital (NYSE: STOR) for three years before investing in the company. Entertainment, Applebee's and Ashley Furniture are among its 10 biggest customers, according to an investor presentation.

While the US economy and stock markets have been growing since bottoming out in 2009, Buffett said it's the mega-rich who have been reaping the rewards, not the average worker. However, Berkshire Hathaway's exposure to catastrophe losses, Buffett's succession and huge capital expenses on account of its railroad operations remain headwinds. The investment makes it Store's third-largest investor, after Vanguard Group and Fidelity.

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