Billionaire Charlie Munger, 99, Said It Would Be A 'Blessing' If Everything Worked As Well As Costco —Even Ate $1.50 Hot Dogs In His Last Days

Benzinga_recent_news03-27

Charlie Munger didn't just invest in Costco. He talked about it like a man who had already made up his mind decades ago and saw no reason to revisit the verdict. For him, Costco wasn't just a winning ...

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He talked about it like a man who had already made up his mind decades ago and saw no reason to revisit the verdict. For him, Costco wasn't just a winning business. It was the standard.His praise wasn't casual or occasional. In early 2022 he summed up his view in broader terms: \"I wish everything else in America was working as well as Costco does. Think what a blessing that would be for us all.\" In that same stretch of interviews he described Costco as \"a perfect damn company\" with a \"marvelous future\" and pointed to its reputation for value as a real competitive edge, even against Amazon.Costco leadership didn't downplay the relationship. \"No one loved Costco more than Charlie,\" then-CEO Craig Jelinek said in a statement after Munger's death in November 2023.Costco has changed leadership since Munger's death. 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AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","IE0008368304.USD":"STEWART INVESTORS WORLDWIDE LEADERS SUSTAINABILITY FUND \"I\" (USD) ACC"},"translate_title":"99岁的亿万富翁查理·芒格(Charlie Munger)表示，如果一切都像Costco一样运转良好，那将是一件“幸事”——甚至在他生命的最后几天吃了1.5美元的热狗","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COTG":0.6,"BRKD":0.6,"COST":1.97,"BRKU":0.6,"BRKC":0.6,"COSW":0.6,"BRKW":0.6},"content_text":"Charlie Munger didn't just invest in Costco. He talked about it like a man who had already made up his mind decades ago and saw no reason to revisit the verdict. For him, Costco wasn't just a winning business. It was the standard.\nHis praise wasn't casual or occasional. In early 2022 he summed up his view in broader terms: \"I wish everything else in America was working as well as Costco does. Think what a blessing that would be for us all.\" In that same stretch of interviews he described Costco as \"a perfect damn company\" with a \"marvelous future\" and pointed to its reputation for value as a real competitive edge, even against Amazon.\nDon't Miss:\nCostco leadership didn't downplay the relationship. \"No one loved Costco more than Charlie,\" then-CEO Craig Jelinek said in a statement after Munger's death in November 2023. \nEven Buffett saw it coming\nMunger's loyalty to Costco was so consistent that Warren Buffett built it into a joke years earlier.\nAt a Berkshire Hathaway annual shareholder meeting in 2011, Buffett told a story about a fictional hijacking scenario involving the two of them. \"Charlie said, ‘I would like to give, once more, my speech on the virtues of Costco—with illustrations,'\" Buffett said. \"I said, ‘Shoot me first.'\"\nThe humor worked because it reflected reality. Munger didn't rotate through favorite companies. He picked them, studied them, and stuck with them.\nBuffett later made clear how much that mindset mattered. \"Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation,\" he said.\nA billionaire who kept it simple at the table\nMunger didn't just praise Costco like a satisfied shareholder. He treated it like a daily habit—reliable, familiar, and worth coming back to without overthinking it.\nThat same no-nonsense loyalty showed up in his diet.\nTrending: Think you're saving enough for your kids? You might be dangerously off — see why\nAt the Daily Journal annual shareholders meeting in 2023, he didn't dodge the topic or dress it up. He leaned right into it, eating See's Candies peanut brittle on camera as if it were part of the program. \"I'm eating this good peanut brittle,\" Munger said. \"That's what you want to do if you want to live to be 99. I hate to advertise my own product, but this is the key to longevity.\"\nThere was no pivot to green juice or quiet nod to moderation. He liked what he liked, stuck with it, and didn't pretend otherwise.\nEventually, the family adjusted. \"His last delivery was Korean fried chicken: A whole chicken, kimchi fried rice and waffle fries,\" Jackson said.\nSome habits, though, never changed. \"He loved Costco hot dogs,\" she said. Even late in life, the company he admired showed up in his everyday routine.\nSee Also: Before you make an offer, ask these 6 questions every homebuyer should know — or face serious regret later.\nThe $1.50 hot dog that outlasted everything\nCostco has changed leadership since Munger's death. Craig Jelinek stepped down at the start of 2024, with longtime executive Ron Vachris taking over as CEO.\nOne thing didn't move.\nThat stance has carried forward under new leadership, reinforcing the same principle Munger admired for decades. Consistency, trust, and value that doesn't drift.\nMunger spent a lifetime identifying businesses that worked and sticking with them. Costco fit that mold in every way. It delivered what it promised, kept things simple, and didn't chase trends.\nIn the end, his philosophy wasn't complicated. Find what works, ignore the noise, and stick with it.\nEven if it comes wrapped in foil, with a soda on the side.\nRead Next: Experts say these common ETF pitfalls can catch new investors off guard\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622827781","isCrawlerRequest":true}