Finding the boring companies that beat the S&P for decades. The ones nobody posts about.
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Everyone thinks $CPRT is an online auction company.
It owns more than 20,000 acres of land. That's the actual business. Salvage vehicles have to physically go somewhere, and nobody is getting permission to build new yards near cities.
The stock is at 20.9x free cash flow against a 43.3x historical average.
Free cash flow compounded at 23% a year since 2013. Growth is slowing to 10-12%, and there's a proposed ACV acquisition to look at.
Still cheap for what it is.
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Here are 5 stocks I'd buy at today's prices and hold for 20 years.
Nobody on here talks about any of them.
Here’s the list:
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LECO at $265
Welding equipment, consumables and factory automation. Sell the machine, sell the materials forever.
24x 2026 estimates, the priciest here. Organic sales grew 10.1% last quarter, which helps.
Industrial spending is the risk.
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14x free cash flow on $UBER. Cheapest it has ever been.
The CEO bought $10 million of it this month. The COO bought $5.31 million.
You’re welcome.
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We all know exactly why this account is gaining 50k followers per day…
If you invested $100,000 in $DELL the day Donald Trump said "go out and buy a Dell," you'd have $480,000 today.
The stock is up ~380% since he mentioned it. This is exactly why we do what we do.
Follow along for the journey!
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$CPRT has compounded revenue per share at roughly 14.2% annually for 21 YEARS.
From $0.30 in 2005 to $4.88 in 2026. More than 16x.
Only ONE annual decline in that stretch: 2015.
Through the 2008–2009 financial crisis, revenue per share held around $0.55.
Even during COVID, it climbed from $2.12 in 2019 to $2.31 in 2020 and $2.80 in 2021.
Copart built this business auctioning vehicles, with its platform now reaching roughly 1 million members across 185+ countries.
What interests me is how difficult that combination of yards, insurer relationships and global buyers would be to replicate…
The latest year was much slower, though: FY2026 revenue grew just 0.4%, while buybacks helped revenue per share increase about 2.6%.
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Brown & Brown $BRO is having one of the largest drawdown in the past 36 years.
You’re welcome.
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Visa vs Mastercard looks like a coin toss. Until you zoom out.
Over the 5 years through September 18, 2026, with dividends reinvested, $MA returned 11.16% annually. $V returned 11.52%.
Pretty close. Now extend that same comparison to TEN years.
Mastercard: 19.69% annually. Visa: 17.02%.
That turned the same $10,000 investment into roughly $60,300 with Mastercard versus $48,200 with Visa.
Both made patient shareholders serious money. But calling them interchangeable misses how much a few percentage points can add up.
I like businesses like these. I’m still going to care what I pay for them, because those historical returns aren’t a promise about the next decade.
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Brookfield $BN guides 24% annual distributable earnings growth for the next 5 years. That gets them to $6.63 per share.
At 15x, that's just under $100. Roughly 3x from here.
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I think ITT’s most interesting customers are the ones who bought equipment YEARS ago.
Here’s how a pump sale can turn into a much longer relationship.
Full research 🧵
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ITT bought SPX FLOW for $4.775B in March.
That adds processing equipment used in food, chemicals and energy, plus a large installed base.
More equipment to maintain is the attraction. Now ITT has to make that purchase price worthwhile.
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