Subject: Re: Munger : BRK a pretty damn good bet
<<He continued: 'Thinking about Alibaba I got charmed by their position on the chinese internet. I didn't start to realize that they are still a god damn retailer. It's gotta be a competitive business. It's not gonna be a cakewalk for anybody.'>>

I kind of agree that retailer is not a good business in general. However, BRK also invested in Amazon, and Munger himself is a big fan of Costco. So Ain't there some exceptions?