“Costco has the most important quality of great stocks. It’s a company that can raise prices at will.” “Seriously” Said the host.
Cramer picked Netflix and Amazon Prime as his favorites and said the service could raise prices and most consumers would stick to them. “I think Costco is no exception,” he said.
Cramer’s comments on Friday followed the reported comments from Charlie Munger. Berkshire HathawayVice Chairman and longtime business partner of Warren Buffett. According to the Australian Financial ReviewManger praised Costco’s purchasing power and said he believed that its digital presence would grow to the point where it could rival Amazon.
“I couldn’t agree anymore,” Kramer said with Manger’s outlook on Costco’s Internet business.
Kramer also said Costco has shown the importance of maintaining a long-term view. To substantiate his claim, Costco said earlier this week that Wall Street analysts reported a 14.1% increase in equivalent sales in November when they expected it to be 15%. ..
Kramer initially thought it was time to put the charitable trust in Costco, but said he changed his mind after further consideration.
“There are times when even the best retailers are missing out on numbers a little more than ever before. I thought it was Costco’s turn. The hardest part of long-term ownership of this stock is It’s just sticking to it. “
Sign up now CNBC Investing Club to track every move in Jim Cramer’s market. Disclosure: Cramer’s Charitable Trust owns shares in Amazon, Costco and Apple.
Kramer says he plans to own Costco for the long term.This is the reason
Source link Kramer says he plans to own Costco for the long term.This is the reason