Sean Stannard-Stockton of Ensemble Capital Management presented his in-depth investment thesis on Landstar System (Nasdaq: LSTR) at Wide-Moat Investing Summit 2018.
Landstar System is a third-party logistics company serving the trucking market. With 90% of the big rigs on the roads owned by the driver and most drivers owning just one truck, shippers need a logistics intermediary to find truckload capacity. Likewise, truckers need access to a large inventory of loads in need of shipment so they can keep their big rig full and not drive long distances without a paid load.
While some investors worry about app-based startups disrupting the industry, these fears are misplaced given the lack of unutilized capacity in the industry which was a key characteristic of successful new logistics companies such as Uber and Airbnb, which successfully brought new supply into their industries.
The full session is available exclusively to members of MOI Global.
Members, log in below to access the full session.
Not a member?
Thank you for your interest. Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form:
About the instructor:
Sean Stannard-Stockton, CFA is the president and chief investment officer of Ensemble Capital Management, and portfolio manager of the Ensemble Fund. In addition to advising the Ensemble Fund, Ensemble Capital manages $700+ million in separate accounts on behalf of families and charitable institutions. Prior to working at Ensemble Capital, Sean worked at Scudder Investments. He holds a BA in Economics from the University of California, Davis and the Chartered Financial Analyst designation.
About The Author: MOI Global Editorial Team
The MOI Global Editorial Team, led by John Mihaljevic, CFA, includes community builders, event organizers, writers, editors, research associates, security analysts, and fanatical member support advocates. Our sole purpose is to serve the members of MOI Global as well as we possibly can in order to help them learn, invest intelligently, and build lifelong friendships with like-minded people.
Who is MOI Global? In recent years, The Manual of Ideas has expanded to become more than simply “the very best investing newsletter on the planet” (Mohnish Pabrai). We are now a thriving global community of intelligent investors, connected through great ideas, thought-provoking interviews, online conferences, live member events, and much more.
Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. Members also enjoy preferential access to selected offline events as well as exclusive access to other events hosted by MOI Global, including the Zurich Project Summit, the Latticework Conference, and Ideaweek.
More posts by MOI Global Editorial Team