Long-time Slopers are well-acquainted with my puzzlement over the success of Chipotle. Let me be clear at the outset: there are very few people on this planet who enjoy good Mexican food more than me. Here in the Silicon Valley, we are blessed with zillions of inexpensive and delicious Mexican fare served at family-owned eateries. Give me a five dollar bill, and I can provide you with a fantastic-tasting burrito.
But when I wrote my post last March, I was puzzling not only on the completely bizarre price action of the stock but also what the reasons for the company's success could be. I ate there a few times, and the two things I remember about the food were that (a) it was expensive; and (b) it wasn't especially good. I also was amused at the self-aggrandizing placards on the wall declaring that some (some!) of their ingredients were organic. Well, gee-whiz.