CarMax: No Competitive Advantages And Still Too Expensive (NYSE:KMX)

Two investors whom I greatly respect, Akre Capital Management and Giverny Capital Management, had held a position in CarMax ( KMX ) for a long time in their funds. That's why I took a closer look atMy primary area of concentration will be on identifying companies of exceptional caliber, with a proven ability to reinvest capital for impressive returns. The ideal scenario is for these companies to demonstrate a long-term capability of capital compounding, with a high enough compound annual growth rate to pote ...