Welcome to Episode 1 of the Preferred Shares Podcast.

Lawrence Hamtil, of Fortune Financial Advisors, was the primary researcher for this episode.

In this episode

* The origin story of automated vending

* The mechanics of the vending business

* Warren Buffett’s foray into coin-operated machines

* How vending machine companies turned into growth stocks

* Technological innovations in the vending industry

* The vending machine company stock bubble

* Transformation of the industry

* Parallels and lessons learned

Resources & additional reading

* A Review of the Vending Industry, James J. O'Brien, Financial Analysts Journal

Vol. 18, No. 6 (Nov. - Dec., 1962), pp. 81-87 (7 pages) Published By: Taylor & Francis, Ltd.

* Selecting Growth Stocks, Nicholas Molodovsky, Financial Analysts Journal

Vol. 24, No. 5 (Sep. - Oct., 1968), pp. 103-106 (4 pages), Published By: Taylor & Francis, Ltd.

* Vendo & Coke Sales Pitch Video, 1960, (excerpt of audio played in intro)

* Fastenal FASTVend program Video, 3/17/2023, Modern industrial vending

* Business Week 1955-11-19: Iss 1368, 11/19/1955, Vending machine sales up 13% y/y

* Business Week 1956-04-07: Iss 1388, 4/7/1956, "Vending Machines Dish Up Your Dinner or Even Fetch the Week's Groceries"

* Business Week 1956-10-27: Iss 1417, 10/27/1957, FTC alleges Vendo acted illegally by acquiring Vendorlator

* Business Week 1956-12-15: Iss 1424, 12/15/1956, Longer article about vending machine industry: "From Nuts to Soup—Literally"

* Business Week 1957-06-29: Iss 1452, 6/29/1957, "FTC Sees Monopoly Peril in Merger Of Vending Machine Makers, Operators"

* Business Week 1957-09-28: Iss 1465, 9/28/1957, "Settlement Ends Antitrust Action With Vendo Co. the Apparent Winner"

* Business Week 1960-01-16: Iss 1585, 1/16/1960, Seeburg (jukeboxes) acquires Choice Vend Corp. to get into vending machine game; lots of good commentary on the industry

* Business Week 1960-11-12: Iss 1628, 11/12/1960, "Vending Machines Get Savvier"; article about the recent industry trade show and all the new stuff going on with vending machines

* Business Week 1961-01-07: Iss 1636, 1/7/1961, "Department Stores Test Robot Salesman"

* Business Week 1961-10-07: Iss 1675, 10/7/1961, "Glamor stocks take a serious tumble"; sectors include electronics, vending, and publishing

* Metal Products Manufacturing 1960-07: Vol 17 Iss 7, “Unified fronts’ for full line vending

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Disclaimer

All opinions expressed by Preferred Shares hosts and guests are solely their own opinions and do not reflect the opinions of their respective employers. This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. None of the information contained in the podcast or this web site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person.

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