Cramer says he plans to own Costco for the long term. Here's why - CNBC

CNBC's Jim Cramer said Friday he intends to own Costco for the long term because the wholesale retailer has the most valuable quality he looks for in stocks: pricing power.

That makes Costco a member of a very small club," along with the likes of Chipotle, Apple, Netflix and Amazon, Cramer said.

According to The Australian Financial Review, Munger praised Costco's purchasing power and said he believes its digital presence will grow to the point it potentially rivals Amazon.