Warren Buffett's $1.3 Billion Costco Mistake
Generally speaking, I believe Costco does more for civilization than the Rockefeller Foundation.
— Charlie Munger
Even the greatest investors aren’t immune to boneheaded mistakes.
In 2020, Warren Buffett’s Berkshire Hathaway dumped its entire stake in Costco Wholesale Corporation (NASDAQ: COST) — all 4.3 million shares — for a cool $1.3 billion.
A year late…