Subject: Re: Charlie Munger and Costco
It was greatly puzzled me that in spite of Charlie being on the Board of Costco and knowing the business so well, neither Daily journal nor Berkshire ever held a significant stake in Costco.

DailyJournal only held 4 stocks, 3 large banks and Alibaba. Almost 90% in BAC and WFC. For such a learned man, couldn’t he find better investments?