Billionaire Investor Charlie Munger Loves Costco Stock. You'll Never Guess Which Growth Stock He Says Is Copying the Costco Playbook.
Charlie Munger has a net worth of $2.5 billion, according to The Real-Time Billionaires List from Forbes. The 99-year-old executive at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) has been Warren Buffett's right-hand man for many decades. But if there's one stock they've disagreed on, it's club retailer Costco Wholesale (NASDAQ: COST).
In early 2023, Munger said: "I love everything about Costco. I'm a total addict, and I'm never going to sell a share." Indeed, Costco is one of only three stocks that the famed investor owns directly. His ownership stake in the retailer is valued at close to $100 million, as of this writing.
Despite Munger's vow to never sell his shares, Buffett sold all of Berkshire Hathaway's shares of Costco in 2020. It's an ongoing source of friendly joking between the two. But considering Costco stock is up over 50% in the last three years, it seems Munger is getting the last laugh.
Source Fool.com
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