Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
We have watched Best Buy for a long time, partly with admiration. It is the only national specialty electronics chain that survived Amazon, and it survived by being honest with itself: it matched Amazon's prices in 2013, cut $1.9 billion of cost, turned its stores into vendor-funded showrooms, and paid out nearly every dollar of free cash flow to shareholders. The people running it are competent and candid. That is the good news, and it is real. The bad news is that none of it adds up to a durable competitive advantage.
Recent filings analysed: 10-Q (2026-09-04), 8-K (2026-08-27), 8-K (2026-08-03), 8-K (2026-06-22).
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