Aaron Chan, Founder and Managing Partner at Recurve Capital LLC, joins the podcast to discuss his thesis on Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars.
For more information about Aaron Chan and Recurve Capital, please visit: https://recurvecap.com/
Carvana - Recurve’s Response to Hindenburg’s Short Attack (article): https://recurvecap.com/insights/carvana-recurves-response-to-hindenburgs-short-attack
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[1:20] What is Carvana and why are they so interesting to Aaron
[5:00] What is Aaron seeing with $CVNA thesis that that the market is missing; differentiated view on CVNA
[9:39] Why the volatility and addressing that fear; factors for the wild swings
[16:49] Competitive analysis - why is no one copying the $CVNA model
[22:44] How much of an advantage is the national level of $CVNA's exposure
[26:47] Brand building / advertising
[30:30] $CVNA economics
[37:09] Why are so many short sellers attracted to $CVNA
[52:18] What Aaron thinks would be the reason $CVNA thesis doesn't work 3-5 years from now; downside risks to thesis
[57:05] Can $CVNA profitably serve rural places and discussion on valuation
[1:03:50] Why isn't every used car dealer dead and final thoughts
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