Brian Grosso
Deep Value

Express Scripts: Just What The Doctor Ordered

Express Scripts (NASDAQ:ESRX) is the complete package and now my largest position by far. It is, in my opinion, the textbook definition of a great company at a great price.

Great Company

'Great company' is an ambiguous phrase and probably means different things to different people, but of the universe of companies I've analyzed, ESRX is near the top in terms of quality. Put another way: There are two components to any purchase or investment- what you pay and what you get. With ESRX, I think investors get a lot.

Economic Moat

Express Scripts is the largest pharmacy benefit management ("PBM") company in the US. PBMs can be a little difficult to understand, but their essential purpose is...

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