Josh Kohn-Lindquist's avatar
$17.2m follower assets
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6 New Starter Positions
As always, I will continue to pick up tiny starter positions in companies that fascinate me. This strategy helps me keep track of them and entices me to add to them over time -- especially if they continually outperform.

Here is the list and a concise reason why I bought each:
  • $THO - Way more stable than I ever would have expected -- strong in troubling times and consistently profitable with improving trends in its favor from younger generations.
  • $CACC - Unbelievable compounding over time in the "high-risk" auto lending space. Often seen as predatory, but usually, the only option left for many. Not sure what to think of this grey area -- what are your thoughts?
  • $POOL - Generates most of its revenue from recurring sales, maintenance, etc., versus needing new pool construction nonstop. -- 1% div and 18% payout ratio.
  • $ODFL - Most profitable less-than-truckload operator out there will only grow in importance with time -- 0.4% div and 9% payout ratio.
  • $CGNX - Dominant in the machine vision space and has many attractive, rapidly growing verticals to lean on -- 0.6% div and 16% payout ratio.
  • $NNI - Price to tangible book value of 1, and a weird business. Collecting repayments on student loans and would benefit from a government-induced student loan bailout -- 1.2% div and 8% payout ratio.
Dissecting the Markets's avatar
I'm surprised you chose $THO and didn't add $PII in the process!
Josh Kohn-Lindquist's avatar
@dissectmarkets That’s a great one too! Another company I am having to wait patiently to start a small position in.

What’s your favorite thing about $PII? Im fascinated by it but only follow from a distance.
Dissecting the Markets's avatar
@joryko I like how they're focused on making electric outdoor recreational vehicles. Electric boats, electric ATVs, and maybe electric motorcycles. Idk anyone else making electric ATVs and the attention on electric boats is low. Electrification will widen margins and will widen Polaris's audience.
Dissecting the Markets's avatar
@joryko I also like how they've been a great dividend growth stock as well
Scoreboard Investor's avatar
Very intrigued by $POOL and $CGNX.

I’m interested to see how your $ODFL position plays out - especially compared to the RR stocks I have ($CSX & $NSC)
Josh Kohn-Lindquist's avatar
@scorebdinvestor Me too -- this was a fun group to pick up today.

Cognex could be a quiet monster, especially with its budding e-commerce and auto markets.

Pool feels like it should be cyclical, but I love how resilient it has been historically -- great dividend grower.

Old Dominion has pretty tough competition, especially compared to the railroads who mostly have their niches all carved out already. But this is nothing new for them, and they have destroyed the market over the last 10+ years.
Dissecting the Markets's avatar
Are you looking to add $LESL along with your purchase of $POOL?
Josh Kohn-Lindquist's avatar
@dissectmarkets I don’t know anything about $LESL but I will have to look at it now — it’s description is interesting.

Interested to hear about the electric side from Polaris. Kept an eye on them over the years because of their dividend growth, but need a good deep dive on them like you have done.
Joshua Simka's avatar
Very lumpy revenues at $CGNX as it depends on system rollout to their customers. I looked at the several years back but I prefer something more predictable