I've been expounding the virtues of Costco for almost ten years. There is a lot to like about Costco from many different vantages - employment, customers and shareholders.
For a long time Wall Street ignored Costco because they could have made much better short term profits, but chose, instead, to build a robust, long-term business.
When investing in up and coming companies, don't expect Wall Street to be on the leading edge and identify those future "hum dingers". Most of the analysts on Wall Street take the tried and true safe bets. Why? Their followers want the "golden eggs" from the golden goose, immediately. Therefore, few think in terms of businesses that will become superstars in 5 or 10 years. And, if those analysts predictions don't come through, a recommendation of a Dow stock that doesn't pan out, the analyst still keeps their following and their JOB. Recommending a small and up and comer that doesn't pan out will lose them their followers and possibly their job.
I love how Wall Street works and most "investors" (speculators really) have a very, very short term focus. This provides wonderful opportunities to own companies with great futures, but patience is essential. Now days, you would think patience was a four letter word. i would also add long-term to the four letter words too.
Be smart, be well-read, be aware and be successful.
"Face your fear, empty yourself, trust your own voice, let go of control, have faith in outcomes, connect with a larger purpose, derive meaning from the struggle."
-Jigoro Kano - Founder of Judo
