This Questionable Berkshire Hathaway Holding Actually Makes Sense

Berkshire Hathaway's investment in Macy's may appear questionable given the retail apocalypse, but the department store chain is showing signs of stabilization. With five consecutive quarters of comparable sales growth (2.7% last quarter), improving guidance, and a low P/E ratio of 8, the investment makes sense as a turnaround play rather than just a real estate bet. The worst of the department store industry's decline appears to be over.