Skip to content

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

This is not a forward-looking pitch with a stated horizon, catalyst, or target — it is a retrospective expression of regret about passing on Costco during a crisis, with only an implied long bias. No price performance or elapsed time is provided, so there is no way to verify whether a long position taken at that point would have paid off. While Costco is broadly regarded as a high-quality business, the actual investment outcome cannot be confirmed from the information given.