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Charlie Munger
Acquired
**Exceptions to life’s rules - Charlie style **
Costco faced challenges when trying to open their first store in China, including encountering bribery. However, after years of hesitation, the board became interested in the Chinese market. Costco's success in attracting wealthy and discerning customers was not accidental, but a strategy they had known since their early days. Warren Buffett also shared an old saying about young vs. old men knowing rules and exceptions, exemplifying it with an exception: Costco's popular hotdogs.
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