Charlie Munger says he dislikes fashion stocks like Nike - but he'd buy Hermès stock if it was cheap enough

• Charlie Munger avoids fashion stocks like Nike, but he'd invest in Hermès at a compelling price.
• The French luxury label has a trusted brand built over centuries, Warren Buffett's sidekick said.
• Munger touted the immense value of brand names in terms of pricing power and customer loyalty.

Charlie Munger isn't a fan of fashion retail, but there's one luxury stock he'd own at the right price.