Ruane Cunniff doubled down on $W in 4Q'19 and outlined their thesis in letter 

1) 3 capex initiatives (logistics, new categories, EU expansion) obscuring earning power 

2) cons. behavior re: home furnishing staves off $AMZN threat

https://t.co/D3L4AXVxXd https://t.co/hXyjuNymAE