Fastenal: Why Being Cheap Works As a Business StrategyRupert Hargreaves
Fastenal is one of the best-performing stocks of the past decade. Since the beginning of January 2010, shares in the industrial distribution company have yielded an average annual return of 16%, turning every $10,000 invested into $44,264.
In many ways, Fastenal is not the sort of business you would expect to achieve these sorts of returns. It is not a high flying growth stock or high-flying tech stock. It has not changed the world, nor does it rely on the internet for distribution.
The company is engaged in the wholesale distribution of industrial and construction supplies. It quite literally supplies the nuts and bolts for the industrial and construction industries.
The key to Fastenal's phenomenal success lies in the company's competitive advantage.
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