FedEx [FDX]

Mid-Year Review [December 2020]

The second half of the year gave me the opportunity to analyze some very high-quality companies, including Arista Networks, United Health Group, Netflix and, most recently, Disney. As I said in my first mid-year write-up, you will find a swath of different types of opportunities here. I talk about deep value companies [Rolls Royce, Simon …

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Mid-Year Review [July 2020]

I hesitated before deciding to write mid-year review of some of the companies I talked about because I do not want this blog to be seen as a place to receive stock tips or buy/sell recommendations. Rather, I consider this blog as a real-time journey into my research process. Sometimes I encounter a really great …

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A Primer on Trucking: Part 1 (on Unions, MEPPs and ODFL)

Introduction Rex Tillerson, former CEO of Exxon Mobil and Energy Secretary of the United States, once said, “Real men find oil.” He loved Exxon’s upstream business and didn’t think the “downstream guys” had the capabilities to run an oil magnate after he would eventually retire. I’m sure the freight industry has its own corollary: “Real …

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The Shipping Wars: FedEx Et. Al.

Introduction FedEx is the quintessential American corporation; or rather, its founder, Frederick Smith, is the quintessential American businessman. A former U.S. Veteran, Frederick Smith founded FedEx after leaving the Marine Corps in 1969 (I should add, after receiving the coveted Silver Star, the third highest decoration for valor in the U.S. Military) with a $4 …

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