Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted in a Forbes article—by John Hyatt, “Carvana’s ‘Chaotic’ Zoom Firing Caps Company’s Struggles Amid Market Downturn”—regarding managing costs, losses, layoffs, and growth at online used-car retailer Carvana.
Below is the excerpted quote:
“The company seems a classic case of growing so quickly to handle revenue expansion that optimization and efficiency take a backseat,” says Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, an investment firm for family offices that doesn’t own the stock. “Carvana could have better managed costs and minimized losses by reining in its own topline growth.”
Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-22-30