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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
In 2025, Aoris's Class A (Unhedged) fund returned 4.0%, underperforming its benchmark (13.7%) due to a widening gap between company fundamentals and lagging share prices. Intrinsic values of...
— Matthew Berry
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Other investors who've written on Copart
At Copart, CEO Jeff Liaw stepped down on June 29, and the stock fell on the news.
Copart was exited due to deteriorating competitive dynamics following the acquisition of its primary rival, IAA, by RB Global, which led to aggressive pricing and lost market share. Additionally, a spike...
Turning to Copart first, it is the leading global marketplace for damaged and end-of-life vehicles, sitting between insurance companies that need to dispose of total-loss cars and a fragmented, worldw