Warren Buffett’s Berkshire Hathaway sold its $1.3 billion Costco stake last quarter. Here’s why that’s su.. – 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…

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