Neil says to understand Costco is to understand Regency Capital’s approach to stocks. It’s a long term holding in a business that’s well-known but perhaps not fully understood: “Costco is not a retailer.” He describes its simple yet powerful business model and competitive “moat” and what he’s learned from the company.
Neil and Arthur also reflect on their journey since Regency Capital’s launch one year ago.
Regency Capital’s podcasts can also be found through Apple Podcasts and Spotify.
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About the Author
Neil Rose, CFA, is the founder and CEO of Regency Capital Management.
