CH Robinson Worldwide: Leading Third Party Logistics and Supply Chain Management Provider

Dave Sather presented his in-depth investment thesis on CH Robinson Worldwide (Nasdaq: CHRW) at Wide-Moat Investing Summit 2013.

The Bottom Line: Asset-light logistics broker serving 56,000+ carriers (mostly truckers) and 42,000+ shippers. Predictable, consistent and understandable business. Leverages the network effect to generate above-average returns on its invested capital. Uses buying power, technical know-how, and relationships with various carriers to expand market share. Non-asset-based business model drives high return on invested capital and free cash flow. Motivated management and employees – aligned with the goals of shareholders. ~9% annualized rate of return expectation in Sather’s most likely scenario for investors. Financially stable and disciplined. Strong margin of safety.

About the instructor:

Dave Sather is president and founder of the Sather Financial Group, Inc, a “fee-only” financial planning and investment management firm responsible for overseeing approximately $290 million in client assets. Dave was raised in El Paso, received his B.A. in Business Management from Texas Lutheran University and received his M.B.A. from Texas A&M University. He has spent the past twenty years in the financial analysis, investment and banking industries. As team leader he is responsible for coordinating portfolio management as well as financial and strategy planning of a client’s life. This strategy planning not only includes traditional fee-only investment management, but also estate, retirement, taxation and risk management planning. In addition to his work with Sather Financial, Dave is a Director of Business Bank Of Texas. Dave is an adjunct professor in the Business program at Texas Lutheran University and is a member of the schools Executive Advisory Council. He is also Chairman of the Finance and Investments Committee for the Brownson Children’s Home and is Treasurer of First English Lutheran Church. He and his wife, Carol, live in Victoria, Texas.

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