Subject: Re: Charlie Munger and Costco
Back in 1993-1996 Carrefour (the French retailer) had 11% ownership of Costco and 20% ownership of Costco UK. They wanted to move out of their US holdings and put the 11% Costco stake up for sale in 1994-1995.

At the time, Munger had not yet joined the Costco board (1997) but was likely aware of the sale of that 11% stake.

At the annual meetings, wasn't it a constant theme of how Charlie had tried to talk Warren into buying a stake in Costco?