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Costco是一家成熟且增长迅速的公司，但其40倍市盈率使得新买入缺乏吸引力，尽管可以继续持有现有仓位。
二十年前，好市多比今天要全面得多。
Twenty years ago , Costco was much more comprehensive than it is today.
我们在好市多身上看到了这一点，在其他所有公司身上也看到了，而且看起来这种情况还会继续下去。
We've seen it with Costco. We've seen it with all the other companies, and it looks like it's going to continue.
我的感觉是，这就像在90年代买入好市多，或者在80年代买入沃尔玛。
That's how I feel, it's like buying Costco in the 90s or buying Walmart in the 80s.
我看了一张好市多的图表。好市多的股价在过去20年里上涨了20倍。过去——抱歉，这说得还不够——在过去20年里上涨了27.5倍，而标普500指数是7.5倍，对吧？
I looked at a chart for Costco. Costco's stock has increased 20 times in the last 20 years. The past—sorry, that's an understatement—has increased 27.5 times over the last 20 years , compared to the S& P 500's 7.5 times, right?