Costco Wholesale Corporation

COST position long Jeff Gramm

Thesis

We looked at Costco during the crisis but passed, which I regret as it was one of the extremely good businesses we wanted to buy.

Did it work?

inconclusive confidence: low

Since there is no price performance data available and the time elapsed since the pitch is unknown, it is difficult to assess whether the thesis played out or not. The regret expressed indicates a belief in Costco's strong business fundamentals, but without concrete evidence of price movement or specific events that validate the thesis, the outcome remains uncertain.

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