Released November 24th, 2021
Freddie Lait - AutoZone: Exemplary Capital Allocation
Freddie Lait is the founder and CIO at Latitude Investment Management. We cover the ways in which AutoZone's customer focus echoes the best of Walmart and Costco, how the business generates some of the highest returns on capital in retail, and dive into their share buyback program.
Business Building
Public Equity
Capital Allocation
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AutoZone Research
Read our research on AutoZone's history, business model, and competitive position.
Will Thorndike - How Skilled Capital Allocators Compound Capital
Will Thorndike is an author and investor whose book The Outsiders is one of the best examinations of CEOs and capital allocation. We cover how these CEOs were contrarians in business tactics, lessons for business capital allocation, and Will's experience in private equity.
Zack Fuss - Costco: Relentless Focus on the One Thing
Zack Fuss is an investor at Continental Grain, a 200-year-old family business. Chris is President and CIO of Semper Augustus Investments Group. We cover how Costco can offer high-quality products at such low prices and lessons that can be learned and applied to other businesses.
Intrinsic Value Assessment Of Autozone
Fundamental analysis of AZO's valuation, as of Feb 2021.
How Autozone is holding off Amazon... For Now
A visual depiction of Autozone’s history, business model, and challenges in the auto industry.
Why Has AutoZone Stock Been One of the Best Compounders of All Time?
Diligent Dollar's analysis of why AZO is “perennially underestimated” and what's made it such a good compounder.
Investment Memo
Eagle Point Capital describe how AZO's extraordinary track record is the product of many subtle but powerful competitive advantages.
Auto-Part Sellers Should Rebound as Pandemic Eases
Morningstar analysis on the major auto parts players and how their defensive nature should see them through the COVID pandemic.
A Long Road of Growth For Autozone
A look at the long term tailwinds that could potentially lead to further growth for AutoZone.
Henry Ford: My Life and Work
Henry Ford's biography in which he recounts what he learned about business, secrets of manufacturing, and other musings on life.
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
A book that details the importance of capital allocation and independent thinking through the stories of eight extraordinary CEOs.
Sam Walton: Made In America
The story of how Sam Walton built the largest retailer in the world, Walmart.