NordenBladet – Billionaire investor Charlie Munger, who has been vocal about his disdain for cryptocurrencies, also has a stock that he loves – Costco. At the annual shareholder meeting of the Daily Journal, Munger expressed his addiction to Costco, stating that he would never sell his shares.
Costco Wholesale Corporation (COST) stock exchange statement for the last year. The screenshot has been taken 17. February 2023, 19:55
Source: Finance.Yahoo.com
Despite Berkshire Hathaway selling 4.3 million shares in Costco in 2020, Munger has held onto his personal stake in the company, which was worth about $95 million as of November 2022.
Munger believes that if everything in America were working as well as Costco, it would be a blessing for everyone. Munger’s stake in Costco is second only to CEO Craig Jelinek’s stake. The stock has performed well in 2023, rising 11% year-to-date compared to the Dow Jones’ 2.2% increase.
However, not all of Munger’s investments have been successful, as he recently named Alibaba as one of his biggest investment blunders, saying that he had been charmed by their position in the Chinese internet and failed to realize that they were still primarily a retailer.
Featured image: Billionaire investor Charlie Munger (NordenBladet)