Yahoo Finance’s Brian Sozzi and Myles Udland weigh in on Berkshire Hathaway getting out of their Costco position.
This segment originally aired on November 17, 2020.
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Both of the people in this news story are unwelcome, and need to be removed from my company, Alphabet.
If anyone had hired them into my company previously, fire them also. Any person, that the newscasters from this episode, had brought into the company, need to be removed too.
@Donald Harlan Kiwi ;- Ivan Mauger
World Champion: 1968, 1969, 1970, 1972, 1977, 1979 – R/Up 1971, 1973, 1974
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Long Track World Champion 1971, 1972, 1976 R/Up 1974, 1975
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World long track speed record. His bike reached 144.666km/h 1986 Auckland NZ
New Zealand South Island Champion 1977, 1981, 1983
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Golden Key of Bremen 1968, 1969, 1970, 1971, 1972, 1973, 1974, 1975
Australian Long Track Champion 1962
Victorian State Champion (Australia) 1962, 1963
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Yorkshire Television Trophy 1975, 1978, 1979, 1980
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British Long Track Champion 1980
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South Australian 150 Jubilee Trophy 1986
Total useless info
That’s called a pump and dump…. last week they were bragging about how well Costco was doing
Exactly this
they sold their position last quarter. whats the point of pumping it last week?
They did the same with Barrick Gold
when the owner of Samsung died, the leadership of the company will lily ruin it.
Time is money to Millennials and Gen Z, they don’t like to wait, and Costco has the longest lines. The self checkout is even more frustrating as people who don’t know how to use it slow everything down. Plus if most young people are in college debt, they have $400 in their savings, why bother to have a Costco membership? It doesn’t make sense. Costco is like only for Boomers and the top 25%, and if you’re living in a tiny studio by yourself, do you really want to buy anything in bulk? You’ll end up throwing most of the stuff away because you get tired of it and there’s really no cost savings buying in bulk unless you can split the purchase with someone. Costco used to pride on paying it’s workers more, but as the minimum wage keeps on going up in some areas, the pay has remained mostly the same, so the new workers have caught up with the old workers and that’s not good for members as the service gets poorer with higher turnover. Someone who has been there for 10+ yrs are not okay with a new person who doesn’t know much making $16-17/hr close to their $23/hr. Also you can’t even see what is in stock per store on their website, you have to go to the store because when you call the just don’t know and tell you to come to the store. With today’s worsening economy and people looking to trim budgets, Costco is the first to go, nothing but bulk and impulse purchases and they don’t even carry much brand name items and have swapped it with their Kirkland in-house generic brand which is good for them but bad for you.
Surprising indeed
They are both great stocks and business, this shouldn’t be a vs battle
Because amazon and walmart are ruling the shopping market these days post covid
Costco is so overeated in my opinion. I am guessing one of the young guys handling buying and selling Warren’s stocks realized they needed to get out. Costco should be 30.00 to 50.00 dollar stock and maybe that’s where it’s headed. So many of Buffett’s picks have ended up being bad picks for one reason or another. Good to see the young guys working hard to undo Buffett’s mess.
Costco is changing leadership.
I understand very well why he did that; Kroger makes products and Costco sales it. 😉
Warren Buffet getting out of Costco? For the past years I see a lot of empty shopping carts. People are not buying a lot of stuff like they used to.
Plus Costco has a bad customer service. Why pay for a membership where employees treat customers like crap and the deals are not so great?
I can assure you that if costco was $100 p/s and the same business as its now he’d be a buyer, but there are better deals right now so why not to free up some capital?
The video title is a click bait. I thought there would be an answer to the question in this video.
So, you really don’t know.
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I listened twice, no reason was given.
Buffett sold Costco to buy an emu farm in Wyoming. It made the local news here.