• Warren Buffett's Berkshire Hathaway sold its Costco stake last quarter. Here are 3 reasons why that's extremely surprising

    5 days ago - By Business Insider

    Warren Buffett and Charlie Munger
    REUTERS/Rick Wilking
    Warren Buffett's Berkshire Hathaway sold its Costco position after investing more than 20 years ago, a filing revealed this week. The billionaire investor's company grew its stake in the big-box retailer from 355,000 shares worth $32 million in 1999, to 4.3 million shares worth $1.3 billion in June of this year. The sale is a shock because Buffett famously invests for the long term, two of Berkshire's directors sit on Costco's board, and both Buffett and his business partner, Charlie Munger, have repeatedly praised the retailer. "If...
    Read more ...