Copart - The eBay Of Salvage Cars [Seeking Alpha]
Berkshire Hathaway Inc. (BRK.A)
Last berkshire hathaway inc. earnings: 8/4 05:00 pm
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Source: Seeking Alpha
SummaryA fantastic business with a moat from high barriers of entry and a network effect.Copart has enormous market share because of its size.Insurance companies operate nationally and it is easier for them to deal with Copart because Copart owns salvage yards all over the country.With its strong balance sheet, it should be able to weather the storm.Copart, Inc. (NASDAQ:CPRTThink of an auto insurance company like GEICO. GEICO's customers get into car accidents all the time, and when the cost of repair is higher than the value of the car, GEICO writes a check to the insured and sells the junked car through Copart. So, Copart is like the eBay of salvage cars. The company gets paid a specific fee or a percentage of the sales price.Copart has an enormous market share because of its size. Insurance companies operate nationally and it is easier for them to deal with Copart because Copart owns salvage yards all over the country. When insurance companies have salvage cars, they can cheaply de
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