Billionaire investor Charlie Munger reiterated his confidence in Costco (COST) even after the stock’s record run-up.
“I’ve always believed that nothing was worth an infinite price. So even an admirable place like Costco could get to a price where you would say that’s too high,” Munger said during The Daily Journal’s annual shareholder meeting on Wednesday.
“But I would argue that, if I were investing money for some sovereign wealth fund or some pension fund, and I had a 30-, 40-, 50-year time…
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