Clean Harbors: A Fairly Priced, Low-Risk, Low-Reward Compounder
Clean Harbors dominates hazardous waste handling in the US, leveraging a strong economic moat with limited competitive threats. CLH's business is stable and essential, with slow, steady growth driven by recurring industrial and environmental service needs. Institutional investors hold 95% of CLH, valuing its diversification and hedging benefits; retail participation is minimal due to modest growth prospects.