Clay is joined by Leandro for a stock deep dive on Copart. Leandro contributes to the popular blog, Best Anchor Stocks, which offers high-quality equity research and updates on great businesses. Copart is one of the most impressive businesses we’ve studied. Over the past 30 years, the stock has compounded at over 21% per year, outperforming Microsoft, Adobe, and the majority of other stocks. IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:00:57 - What makes Copart a great business 0:05:57 - Copart’s business model 0:14:48 - Industry Dynamics 0:20:22 - How used car prices impact Copart 0:23:27 - Copart’s moat explained 0:32:47- Copart’s Management 0:37:46 - Capital Allocation 0:42:33 - Growth Opportunities 0:46:33 - Autonomous vehicle risk 0:51:01 - Other risks 0:52:04 - Copart’s Valuation 1:01:11 - Buying versus holding a stock 1:09:07 - Best Anchor Stocks 1:12:04 - Outro 🤝 Apply to join our highly vetted TIP Mastermind Community: https://www.theinvestorspodcast.com/mastermind/ 📊 Add the Fundrise Flagship Fund to your portfolio in just minutes and with as little as $10. http://fundrise.com/wsb 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODES: - How Copart's Stock Compounded by 21% Since 1994 | Junk to Gold by Willis Johnson: https://youtu.be/vOvT6W83mso - How to Identify High-Quality Compounders | Copart & Topicus Stock Analysis: https://youtu.be/oAJAIxkPJLY 🔗 RELATED LINKS: - Leandro’s research: https://www.bestanchorstocks.com/ - Follow Leandro on X: https://x.com/Invesquotes 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/we-study-billionaires/ 📖 BOOK MENTIONED: - Junk to Gold by Willis Johnson: https://amzn.to/3ASKPV0 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ 📝 Help us understand our audience better so we can create a more intentional user experience by answering this survey! https://www.theinvestorspodcast.com/survey2023-youtube ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.