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Anthony Morley's avatar

Great post! Well done

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Tony's avatar

So right and so helpful to illustrate this, thank you.

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BoiseCFA's avatar

Good thought provoking post. To your list of possible signals, I'd suggest adding signs of pricing power. Although I don't have confirming evidence on Fastenal, my suspicion is that their customers value immediate in-stock availability over price.

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Todd Wenning's avatar

Agreed. You could see it in their gross margins from the start!

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