Warren Buffett Admits His 2021 Sale of This Stock Was "Probably a Mistake." Is It Too Late to Invest in Costco?
Warren Buffett is known for being one of the greatest investors of all time. For its part, Costco Wholesale (NASDAQ: COST) has been one of the greatest stocks to buy and hold over the very long term, considering it's up by more than 14,000% since 1985. And yet, Buffett's history with Costco stock surprisingly isn't perfect.Buffett's late right-hand man Charlie Munger, however, had a much better track record with Costco. Not only was Costco one of only three stocks in Munger's personal portfolio, he also sat on its board of directors.In perhaps the funniest joke I've ever heard, Buffett once told a fictitious story in which he and Munger were taken captive by airplane hijackers who offered them each one last request before their executions. Munger, said Buffett, requested to explain in detail about the greatness of Costco's business model one final time. For his part, Buffett asked to die first.Continue reading
Warren Buffett is known for being one of the greatest investors of all time. For its part, Costco Wholesale (NASDAQ: COST) has been one of the greatest stocks to buy and hold over the very long term, considering it's up by more than 14,000% since 1985. And yet, Buffett's history with Costco stock surprisingly isn't perfect.
Buffett's late right-hand man Charlie Munger, however, had a much better track record with Costco. Not only was Costco one of only three stocks in Munger's personal portfolio, he also sat on its board of directors.
In perhaps the funniest joke I've ever heard, Buffett once told a fictitious story in which he and Munger were taken captive by airplane hijackers who offered them each one last request before their executions. Munger, said Buffett, requested to explain in detail about the greatness of Costco's business model one final time. For his part, Buffett asked to die first.
