Relentless Value: Lessons from Costco

Episode 005 | Relentless Value: Lessons from Costco - 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.