Wednesday, June 28, 2017
Purchased Costco! (COST)
I was also excited to see the recent drop in share price thanks to the Amazon-Whole Foods bid, and so I picked up some shares of Costco believing the drop to be significantly overblown.
Finally, I believe in Charlie Munger to identify great businesses and I know Mr. Munger is a big believer in Costco as well. I imagine Costco will do well for quite awhile, but unfortunately all of my available capital is still going towards paying down debt and real estate (minus this $1K), so this was all I could contribute.
My other idea was to short Tesla. I cannot justify Tesla's share price in my head, at all. It was either short Tesla or buy Costco. From the date of my Costco purchase, Tesla shares have dropped around 20pts and Costco hasn't really moved. Blah. Time will tell.
Well I suppose that's it. What are your thoughts on Costco? Or on Tesla? Thanks!
Passive Income Dude