4min chapter

Invest Like the Best with Patrick O'Shaughnessy cover image

Chuck Akre – The Three-Legged Stool - [Invest Like the Best, EP.135]

Invest Like the Best with Patrick O'Shaughnessy

CHAPTER

O'Reilly Automotive and the Do It Yourselfers

We own a company called O'Reilly Automotive and it's also part of an oligopoly. The oligopoly really basically includes O'Reilly AutoZone and CSK Auto Parts. After they did that, as the company O'Reilly had very little debt they'd taken on in 2008 because of the recession. They were unable to borrow all the money they'd anticipated for that acquisition and end up having to issue stock. And we owned 10% of CSK at the time. We got a reasonable share of O'Reilly stock, which we still own and it's 12 or 13 times what we paid for O'Reilly as a result of that.

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