Yield Curve Inversion and Market Discontents -- Investment Idea CarMax, Inc. (KMX)
In our December newsletter we attempt to explain, in plain language, why people care about the yield curve, how it inverts, and what it might mean for the markets and the economy. We couch this dicussion in a broader concise summary of current issues facing the market and provide our persective. Secondly, we discuss our approach to investing and managing a portfolio and provide a specific investment idea. This month we discuss an investment in CarMax, Inc (KMX).
CarMax is a holding company. Through its subsidiaries, the company is engaged as a retailer of used vehicles. The company operates in two segments: CarMax Sales Operations, which sells used vehicles, purchases used vehicles from customers and other sources, sells related products and services, and arranges financing options for customers; and CarMax Auto Finance, which consists of finance operation that provides vehicle financing to customer buying retail vehicles from the company The company's products and services include retail merchandising, wholesale auctions, extended protection plans, reconditioning and service, and customer credit.
Quo Vadis Capital, Inc. is a Registered Investment Advisor, independent equity research boutique and financial and strategic consultancy. Our focus is on the U.S. consumer market with a specialization in the retail and restaurant sectors. Quo Vadis provides an investment edge for professional investors using a proprietary forecasting tool that identifies and quantifies near- and long-term upside or downside potential to consensus estimates. Quo Vadis is based in Paris, France.
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