接下来是Costco，它是我投资组合中的第九大持仓。也是我整个投资组合中持有时间最长的股票之一。我基本上在开始投资的第一天就开始买入Costco。当时我知道的不多，但我知道Costco是一家非常好的公司。
投资测试证明了复合增长率。Costco一直是市场上回报最好的股票之一。但它目前是一个83,000美元的仓位，其中50,000美元是收益。这只股票有点棘手，因为Costco目前股价为969美元，但我为它设定的买入目标价要低得多。
低得多。在600美元。对于我的大多数公司，我的买入目标价在现价下方18%到25%左右。但对于Costco，它比现价低38%，幅度很大。所以，要以每股600美元买入Costco，股价需要下跌38%。
对于Costco，我认为这非常不可能。回顾过去5年，Costco确实有下跌，但通常持续时间很短。通常可能下跌5%、10%，也许20%。它通常不会下跌近40%。所以，我认为这是所有股票中最不可能出现的下跌之一。
我之所以把买入目标价设定得远低于现价，是因为Costco被高估了。它是一家被高估的公司，但我继续持有。每当它支付巨额特别股息时，我就把那些资金投入其他仓位。当我看到一些假设时，如果Costco的每股收益增长率为9.3%，并且市盈率为31倍，这是不错的。
现在，它的市盈率是50倍，但即使假设市盈率为31倍，以600美元的买入价，我们也能获得大约10.6%的回报。所以，对于这家公司来说，这是一个不错的回报，但仍然不算惊人。这也是我把买入价设定得远低于现价的部分原因。
Next up, we have Costco, which is position number nine in my portfolio. It's also one of my longest held positions in my entire portfolio. I basically started buying Costco day one when I started investing. I didn't know as much back then, but I knew Costco is a really good company. And the investment test turned out on a compounded growth rate. Costco has been one of the best returning stocks in the market. But it currently sits at an $83,000 position with 50,000 of that being gains. This one here is a little bit tricky because Costco currently trades at 9 and $69 per share, but the buy target that I have for this one is all the way down. It's way down. It's down at $600 per share. Now, with most of my companies, my buy targets around 18% below to 25% below the current price of the stock. But with Costco, it's a dramatic 38% below its current price. So, for buying Costco at $600 per share, the stock needs to drop 38%. And with Costco, I rate this as very unlikely. Looking over the past 5 years, Costco does have drops, but usually they're short-lived. Usually it drops maybe 5, 10, maybe 20%. It does not typically drop nearly 40%. So, I believe that this is one of the most unlikely drops out of all the ones. Now, the reason why I set that buy target so much below the current price is because Costco's overvalued. It is an overvalued company that I continue to hold. Anytime it pays me the huge special dividends, I put that capital into other positions. When I look at some assumptions here, if Costco grows its EPS at 9.3%. And it trades at a nice multiple of 31. Now, right now, it's trading at a 50 multiple, but even assuming it trades at a 31 multiple at a $600 buyin price, that means that we're getting around a 10.6% return. So, a decent return for the company, but still not amazing. And that's part of the reason I put the buy price so far below the current price.