QXO, Inc.

The move up in rates.

So one of my favorite ideas now is QXO, which is Brad Jacobs' most recent company.

And that's been under pressure lately.

But his past companies, XPO Logistics, United Rentals, were up between five and 50 times.

The three-letter one.

OXO, as I called it, QXO.

QXO, yeah.

Yeah, when you first think of it, it's like the gravy company.

My stock is in the hole.

Should I stay or should I go? QXO.

Um, I am very surprised.

Uh, Brad Jacobs is a winner.

I, except for Home Depot's got a yield.

And people in the club w- who know, I, they feel like I'm wrong on Home Depot.

QXO feels very wrong.

But it's Brad Jacobs and I don't wanna bet against him.

And if the best one doesn't work without carbs, guess what happens? don't they don't get the results they want so if they want the results that they want they're going to have to get papa john's okay and if that doesn't work we will get a recession at some point and people will start eating pizza instead of caviar when uh uh open ai's ipo price halves uh six months down the road before it triples again in the future so These things repeat themselves over and over.

QXO, you can't make this stuff up.

The greatest wealth creator in the history of the US stock market, Brad Jacobs, who gave you a 50 bagger in QXO, who gave you a 200 bagger in United Rentals, is now doing the perfect industry rollup at the perfect time in history when no one wants it, When rates are elevated, but demand has never been higher for housing in terms of the millennials age 35 housing and family formation, you cannot give away the stock because of interest rates.

He has some debt, so it's trading down.

And housing, people get these things called mortgages, and it's a little tougher to get a mortgage at a higher rate.

We covered that one.

Will G.

Covered QXO.

Hilton, for the stay.

Since you're doing Rocket Lab, I definitely can't do QXO because Lou's here and he's just going to think it's all about him.

You said you were going to

do QXO though.

That's what you told me earlier.

I was

going to do QXO.

And of course the thesis here is it's in an industry.

I opened a new position today, too.

And I opened a new position in QXO.

Oh, I'm so excited.

Yeah.

Yeah, I'll talk about it a little bit because we haven't talked too much about stocks on this episode.

I've always been a little bit interested in it, even the stupid beginnings of this company where they bought a random software company from New Jersey.

in order to become QXO.

It's always been interesting to me.

I'll rattle off three.

Home Depot, Lowe's, and over there in building supplies, you know, Brad Jacobs and QXO.

But my point is, there's a lot at play there going after that pro-contractor, and that is going to impact wholesale distribution mainstream, I think, Big time, from consolidation to regionalization, customer experience to who owns market share, all of the above.

And you know what? I'd like to unpack that with you for kind of our next topic here.

You already sent me notes.

No, no.

My question is, you've got some very interesting bedfellows out there doing some major things, and we rattled off Home Depot, Lowe's, and QXO.

Just for three, they're in the news, and we wrote about these guys last week.

Awesome.

So let me ask you, all of a sudden, our industry here with Home Depot acquiring SRS going back a couple of years, then QXO coming on the stage and the marketing machine that is Brad Jacobs and acquiring Beacon.

They recently just made more news with Top Build.

All of a sudden, we're getting lots of eyeballs, lots of attention in general on building materials, but really specifically roofing.

We'll see what happens.

You know, I know everybody's eyes have been on these type of acquisitions.

I think that the Brad Jacobs with QXO is more of a trying to bring maybe more AI or IT into the equation, streamline things, lean up the business.

There's a lot of speculation in the marketplace around that acquisition.

We probably lost five hundred million bucks, which is a lot of money, and you remember that forever.

Today on the show, Brad Jacobs, chairman and CEO of QXO and the founder of eight separate billion and even multi-billion dollar companies.

Those include United Rentals and XPO, the sixth and seventh best-performing stocks in the Fortune 500 in the last decade.

I usually do one or two things for ten years, and then I reinvent myself and start all over again.

Five hundred M&A deals.

You've raised over fifty billion dollars of capital as you built up United Rentals, United Waste.

As we met each other, XPO and Transpo and Logistics, and now QXO.

I've made a lot of out-of-consensus calls.