Cramer Says Costco is a "Great Long-Term Hold"

Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks Jim Cramer recently discussed. Answering a caller’s query about the stock, Cramer said:

“I think that Costco is a great long-term hold. There’s never been a moment where it’s cheap. And that is something that the late Charlie Munger talked about. He was on the board of Berkshire Hathaway. Never. So my belief is that you buy this slowly. You want to buy 50 shares? Buy 10 here. Wait for it to come down. I think it’s a great stock. Don’t buy it all at once.”

Costco Wholesale Corporation (NASDAQ:COST) operates membership-based warehouses offering branded and private-label products across groceries, appliances, electronics, apparel, and household goods. Additionally, it provides fuel stations, pharmacies, optical and food services, along with e-commerce and business delivery options. On the September 4 episode, Cramer explained why his trust owns the company stock. He remarked:

“There’s a reason, by the way, that the trust also owns Costco. We shop there constantly. We have four different Costcos where I live, and I always visit one if I see one. I do that because it’s a core position, but… also because my wife and I just can’t stay away from the place. I’ve never been worried. Richard Galanti, the former CFO, put the fear of God into all of Costco’s suppliers to ensure they kept prices low. The Costco cart’s one of the best bargains on earth.”

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Disclosure: None. This article is originally published at Insider Monkey.