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1/ Munger: "Amazon has more to fear from Costco than Costco has to fear from Amazon. Because [Costco has] a better warehouse situation that is much cheaper- plus a public that totally believes that anything they sell will be high quality and low price."
2/ Charlie Munger: "they're coming late to any sort of delivery system. But in the end they’ll be more efficient and they’re already more trusted. So I would say all the figures show that Costco has nothing to fear from Amazon."
3/ "Charles T. Munger has been a director of Costco since January 1997."

"In 2001 Jim Sinegal met Jeff Bezos in a Starbucks in Bellevue, Washington and told the Amazon CEO about the Costco business model." google.com/amp/s/25iq.com…
4/ The question Munger was answering was:

Q: Do any companies have a sustainable moat against competition from the likes of Amazon? Who is Amazon-proof?

He wasn't saying Amazon would not do well or spectacularly well. Charlie was talking about Costco, where he's a director.
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