Larry Robbins On Monsanto's Impenetrable Moat and Hertz's Core Value

In the company’s annual investor letter, Glenview Capital’s Larry Robbins shared his thesis on a couple of his holdings including Monsanto Company (NYSE:MON), Dollar General Corp. (NYSE:DG) and Global Payments Inc (NYSE:GPN). The letter also discussed Hertz Global Holdings, Inc. (NYSE:HTZ) which was not among Glenview’s long positions until the end of 2013. The letter expands on Robbins idea of owning “convertible equities”, stocks that return like bonds with a base case return. Additionally these convertible equities have “free call options” lined up, such as corporate restructurings, management change, capital deployment, which could boost profits. Larry Robbins on Monsanto The value…