CNBC’s Jim CramerOn Friday, he stated that he wants to purchase a home CostcoFor the long-term, wholesale retailers have the best quality in stock: price power.

Costco holds the No. The #1 quality of a stock is its ability to increase price whenever it pleases.” “Mad Money”Host said.

The company could make a quick profit and be profitable within minutes. Costco is now a member in a small club, along with other companies like Chipotle, Apple, NetflixAnd AmazonCramer stated.

Cramer named Netflix and Amazon Prime his top choices, stating that while the prices could rise for consumers, most would stay with them. Cramer stated, “I think Costco’s no different.”

Cramer’s remarks Friday were made in the wake of Charlie Munger’s comments. Berkshire HathawayWarren Buffett’s Vice Chair and longtime Business Partner. According to The Australian Financial ReviewMunger spoke highly of Costco’s buying power, and said that he believed its digital presence would grow as much as Amazon.

Cramer claimed he could not agree more with Munger about Costco’s web business.

Cramer stated that Costco is an example of how important it was to have a long-term outlook. Cramer noted earlier in the week that Costco had reported November comparable sales rising 14.1%, while Wall Street analysts expected it to rise 15%.

Cramer stated that he originally thought it was the right time to reduce Costco’s holdings in his charity trust, but more consideration led him to reconsider his decision.

“It is not uncommon for great retailers to miss numbers at times, so I felt it was Costco’s moment. Owning the stock for a long time is not easy. The most difficult thing to do is just have the willpower and determination to keep it.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market. Disclosure: Cramer’s charitable trust has shares in Amazon and Costco.

Disclaimer