Andrew Wagner, CIO of Wagner Road Capital Management, discusses his thesis on Copart (CPRT). You can find my notes on CPRT here and Andrew’s book, The Economics of Online Gaming, here. Please follow the podcast on
One relevant question to ask is whether EVs/ICEs become safer over time with self-driving technology. I could certainly look out 10 years and say there is potential for significantly fewer traffic accidents due to better sensors and self-driving corrections (auto stop, lane drift, etc). Clearly there will always be cars that are scrapped, but extrapolating the current trends may not be wise, especially with a high multiple stock.
Take a look at Chris Mayer’s blog at Woodlock House Family Capital. He’s also written persuasively about Copart - with some similar themes - in recent years.
One relevant question to ask is whether EVs/ICEs become safer over time with self-driving technology. I could certainly look out 10 years and say there is potential for significantly fewer traffic accidents due to better sensors and self-driving corrections (auto stop, lane drift, etc). Clearly there will always be cars that are scrapped, but extrapolating the current trends may not be wise, especially with a high multiple stock.
Take a look at Chris Mayer’s blog at Woodlock House Family Capital. He’s also written persuasively about Copart - with some similar themes - in recent years.