2024-02-07 10:20:00 ET
Summary
- A real sweet spot for our investment style is discovering companies run by owner/managers.
- Joe Shoen, UHAL's CEO and Chairman, owns 55% of the company, and has more to gain from a higher stock price than his paycheck.
- Revenue has grown 70% over the past five years.
- We prefer to invest in solid companies like UHAL run by owner/operators.
The following segment was excerpted from this fund letter.
U-Haul Holding Company ( UHAL )
A real sweet spot for our investment style is discovering companies run by owner/managers, CEOs with huge ownership stakes in their company. It's hard to find a better example of this then Joe Shoen, CEO and Chairman of U-HAUL Holdings. Shoen owns 55% of the company, with his stake valued at nearly $6 Billion, and his total annual compensation is $1 million. He clearly has more to gain from a higher stock price than his paycheck....
Read the full article on Seeking Alpha
For further details see:
Old West - U-Haul: A Solid Owner/Manager Run Company