Most of the recent headlines surrounding billionaire investor Charlie Munger have revolved around his burning hatred of everything crypto.
But it's Valentine's week, so it's only right that the nonagenarian also gets to express the stock for which he has a lot of love.
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"I love everything about Costco. I'm a total addict, and I'm never going to sell a share," Munger said at the Daily Journal's annual shareholder meeting.
While Berkshire Hathaway, the investment conglomerate of which Munger is the vice chairman, exited its stake in Costco in 2020 by selling 4.3 million shares, Munger has held onto his personal stake in the company.
As of November 2022, Munger directly owned over 187,000 worth about $95 million, Yahoo reported.
"I wish everything else in America was working as well as Costco does. Think what a blessing that would be for us all," Munger said.
Munger's stake in Costco is second only to the 196,095 shares owned by CEO Craig Jelinek.
Munger's Other Bets
Munger's investment in Costco has paid off so far in 2023, with the stock rising 11% year-to-date compared to the 2.2% increase of the Dow Jones.
But not all of Munger's bets have been winners.
This week he named Chinese e-commerce and tech company Alibaba (BABAF) as one of his biggest investment blunders.
"I regard Alibaba as one of the biggest mistakes I ever made," Munger said. "In thinking about Alibaba, I got charmed by their position in the Chinese internet and didn’t stop to realize, 'they’re still a gawd-damned retailer.'"
