Investors looking for the next winning stock should look at historical winners. This could result in identifying unique insights that have helped contribute to a company's success, which can be applied when searching for businesses to buy.

You'd probably struggle to find companies that have rewarded shareholders as much as Costco (NASDAQ: COST) has. In the last 30 years, this top retail stock turned $10,000 into nearly $1.2 million, including dividends (as of Jan. 29). This gain absolutely trounces the S 500 and Nasdaq Composite Index.

It's worthwhile to understand what has led to Costco's success before assessing whether the shares are a smart buy today.

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Source Fool.com