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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Chuck Akre Comments on CarMax

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August 07, 2019 | About:
Our top-5 performance contributors during the quarter were Mastercard, CarMax, Visa, Moody’s, and SBA Communications. In our view, CarMax (NYSE:KMX) has been among the cheapest stocks in the Fund as its valuation suffered from uneven used vehicle comp performance and a narrative that digital disruption was taking a toll. We believe the market has started looking forward to the nationwide roll-out of CarMax’s omnichannel offering in early 2020. Optimism has also been bolstered by the strongest used unit comp performance in five years as reported for the quarter ending May 31.

From Chuck Akre (Trades, Portfolio)'s second-quarter 2019 Akre Focused Fund shareholder letter.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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