The stock of Kuehne + Nagel (K+N) continues to defy the law of gravity, but enthusiasm in financial circles may be shortlived, unless institutional investors who have bought it over the past few weeks know something we don’t.

Once again, I find myself wondering if something is brewing in Schindellegi, pictured above, where the Swiss 3PL is headquartered.


After all, its stock, changing hands at around Sfr170, is some Sfr30 – 25% or so – above what I consider to be fair ...

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