Understanding a Leading Indicator

Last week, we were privileged to sit in on TAL International Container Corporation’s (“TAL”) Analyst and Investor Day. Having spent part of our career in container leasing, we remain fascinated by the intricacies of what on the surface appears to be a very simple business. Leasing containers for pennies, if done correctly, can be a multi-million dollar business as TAL demonstrates. There are a number of reasons as to why container leasing is an attractive business. Historically, the industry has demonstrated long-term growth of 2x to 3x global GDP with less risk than other equipment types. And, most importantly, margins are sustainable.

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