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How to Maximize Returns Over a 30 Year Time Horizon
Copart doesn't even pay a dividend and that's because Copart's managers have skin in the game while IAA's managers do not. Insurance companies want to partner with a business they can trust which management really wants to take care of their customers. One risk with Copart is the eventual transition to autonomous driving. Autonomous driving is not here yet as we don't know when it will be widespread. The kicker for Copart is that since there so much technology involved with cars nowadays, this has actually been a tailwind for them.