Here’s an idea I’ve been thinking about this week: the scarcity of industrial land near big markets. It’s getting harder and harder in the US to find land to build things like service centers for trucks, used car lots, warehouses and the like.
Ergo, the companies that have consistently invested in land over the years have a massive advantage over those who have not…
I have two examples that show what I mean: Old Dominion Freight Lines (ODFL, which we don’t own - yet) and Copart (CPRT, which we do).