The Importance of Innovation in Stocks

Over the past 20 years, Costco has risen up since its all time in 1986, 4,447%. It's pretty good returns for a company that largely doesn't do much innovation. There are so many companies that haven't done any substantial innovations at all over the past decade and they're doing incredibly well as stocks. If investors narrow their search to only innovative companies, they're going to miss out on potentially great investments.