“And Greg will keep the culture.” — Charlie Munger, 2021 Berkshire Hathaway Annual Meeting The question of who will succeed Warren Buffett as Chief Executive Officer of Berkshire Hathaway has finally been answered. Although Mr. Buffett has no intention of
Does Chipotle’s Valuation Offer a Margin of Safety?
Many aspects of life seem to have asymmetrical qualities. One obvious example involves the amount of time and effort required to build a reputation, both from a personal and professional perspective. It can take many years to earn the confidence needed
Snap Pitches Hopes and Dreams, Shuns Accountability
Snap Inc., the parent company of the popular Snapchat app, has officially filed the paperwork required to go public in an offering expected to raise up to $3 billion. Characterizing itself as a “camera company” that has reinvented the way in which
America’s Car-Mart: Navigating the Subprime Market
America’s Car-Mart is one of the largest retailers in the United States operating in the “buy here, pay here” segment of the used car market. Companies operating in this segment, also known as “integrated auto sales and finance”, sell older
CarMax: A Better Way to Buy and Sell Used Cars?
CarMax was founded in 1993 in Richmond, Virginia under the ownership of Circuit City Stores. In the early 1990s, Circuit City was looking for growth opportunities in different markets outside consumer electronics. The automotive sector was identified due to its large