THE INDEPENDENT VARIABLE
  + 
# Our Team
### Meet the Senior Members of the Team
*We strive daily to be the definitive source for data on the commercial transportation of goods throughout the economy.*
#### Donald Broughton – *Principal & Managing Partner*
Donald Broughton founded Broughton Capital at the beginning of 2017, after spending over two decades as one of Wall Street’s top analysts – first at A.G. Edwards where he covered the Transportation industry, led the Industrials Research Team, and served on the firm’s Investment Strategy Committee. Beginning in mid-2006 Broughton published reports warning of an impending economic slowdown and by early 2007 published reports explaining why a recession was imminent.
His stock-picking performance has been repeatedly recognized by The Wall Street Journal as an “All-Star Analyst,” by Forbes in its “When Picky Analysts Pick” series, and ranked by both Zacks Investment Research and Starmine as a 5-Star Analyst (their highest rating).  He is a frequent guest on national broadcast media, such as CNBC and Nightly Business Report. Many in the transportation industry know him for his quarterly tracking of trucking bankruptcies. Notorious as a hard-hitting forensic accountant, as a ‘Sell-side analyst’ he used ‘Sell’ ratings more often than any other Transportation analyst, and is highly regarded for his forecasts that translate goods flow data into economic forecasts.
Prior to going to Wall Street, Mr. Broughton spent almost a decade in various Distribution and Operations management roles in the beverage industry, including serving as the Corporate Manager of Distribution for the Dr Pepper / Seven-Up companies and Chief Operating Officer for Bevmark Concepts. He is convinced that most individuals know more about the economy than they realize, and believes that economists are only boring because they are lazy, or choose to be.
#### Noël Perry – *Partner, Managing Director*
His willingness to challenge conventional wisdom and provoke thought, with extensive data analytics that are grounded in experience, embodies the culture our firm strives to exemplify. In his journey: from the loading dock to the C-Suite; a tour of combat duty in Viet Nam, earning degrees at two of our nation’s most prestigious universities; he acquired decades of real-world industry experience working in several modes of transportation in roles at Cummins Engine, CSX, and Schneider National.
Mr. Perry is widely recognized as one of the leading thinkers on the economics of the transportation and logistics industry. He contributes to our industry specific and economic outlook commentary, plays a key role in the continued expansion of our firm’s forecasting services, as well as to our data services. He leads the addition of Market Sizing services to our practice, and we expect it to quickly become the most extensive and comprehensive authority available on the topic, with far more detail and verifiable data sourcing than is obtainable from any source currently.
In his spare time, he is a gardener, singer, golfer and amateur World War II historian.
#####
#### Andy Harding – *Managing Director, Sales*
Andy believes that building strong relationships and customer trust is the key to any successful sales effort. Prior to joining Broughton Capital as one of the original founding team members, Andy spent 10 years at Avondale Partners as a Director helping to grow their sales and trading departments. Prior to that Andy was an Institutional Equity Sales Trader at Soleil Securities and Prudential Securities where he obtained his Series 7, 63 & 55 licenses. Andy’s experience also encompasses high net worth sales and corporate accounting. He is a graduate of The University of South Florida with a BS in Finance. Andy currently lives in Norwell, Massachusetts with his wife and three children.
####
#### Das Brain – *Chief Data Scientist, Managing Director*
Our Chief Data Scientist is well known to our clients and is one of our founding team. He prefers to stay out of the limelight, and frankly as one of our most valuable assets, we find it easy to respect his wishes. As an Investment Analyst, publishing research on transportation stocks and macroeconomic trends and has worked in the financial services industry since 2001. Prior to being part of the original team, he performed investment research at a wealth advisory firm and later became an Associate Analyst covering technology and transportation stocks for many years (hint – he and our Managing Partner have worked together since they met at A.G. Edwards). He received his BS in Business Administration with a major in Finance from the University of Missouri – Columbia, and his MBA with a concentration in Finance from Saint Louis University. He is also a CFA Charterholder and earned the AIF® designation in 2015. Attainment of the AIF designation demonstrates understanding of the Prudent Practices® and methodology. He enjoys spending time with his wife and four children, playing golf, traveling, and learning.
#### James Marks – *Vice President Senior Counsel*
A legal problem-solver who embodies one of our favorite principles – “Tough but Fair.” He has a breadth of knowledge and experience in a wide variety of areas of law – ranging from previously serving as a corporate general counsel before joining us; to his many years as a dynamic, tenacious, and highly respected litigator; and as the trusted private counsel for individuals, families, and businesses. James endeavors to create proactive legal solutions wherein all parties benefit and trust is maintained, by balancing his aggressive assertion of the facts and zealous protection of his client’s interests, with creative and innovative approaches. He is steadfastly committed to the rule of law and the principals upon which our legal systems were founded, as he pursues common sense resolutions that reflect dispassionate fairness. He holds a BS in philosophy and a BA in psychology from Southeast Missouri State University, and a Juris Doctorate from Hamline University in Saint Paul, Minnesota.
#### Scott Redding – *Vice President Information Technology*
An I.T. professional with over 30 years of managing and supporting information and telecommunication systems, services and staff in the Financial Services industry, Scott is an invaluable part of our firm with an incredibly difficult role. Since we don’t hire people who don’t have higher than average levels of intellect and education, as well as some serious technology skills, supporting us and our demands is one ‘tall order.’ His reward, on a more regular basis than any of us would like to admit, is this – “When we create an I.T. problem which we can’t fix, it is not ever going to be a small or easy problem to fix.”
##### Kevin Coleman – *Vice President, Sales*
Kevin is veteran of the financial services industry who has performed various roles from Market Making to Institutional Equity Sales throughout his career .  Prior to joining Broughton Capital, Kevin was instrumental in growing Avondale Partners Institutional Equity Business in Boston as a Director on the sales team.  Prior to that Kevin was a Vice President on the middle market equity sales team for Jefferies & Company Inc. in New York.  Kevin’s experience also includes 9 years as a senior market maker on the Institutional Equity Trading Desk for Prudential Securities.  Kevin holds Series 7, 63 & 55 licenses and received his BS in Economics with a minor in Finance from Assumption College in Worcester, MA where he was also the captain of both the Football and Baseball teams.
#### Bob Buchanan – *Chief Strategist, Voice of Wisdom*
In his decades as a Sell-Side Analyst, Mr. Buchanan was widely recognized as the best analyst following the Retailing Industry; named an “All-Star Analyst” three times by Institutional Investor Magazine and “Best on the Street” seven times by the Wall Street Journal. That experience, shored up by real-world experience at Costco and Hudson’s Bay, allows him to be our team’s sharpest critique, while also being our strongest advocate and trusted friend.
He provides our team and our clients, with insights that are profound, yet so straightforward in their simplicity that often “we can’t believe we didn’t think of that before.” When not bedeviling us, Mr. Buchanan teaches at a local university, manages his portfolio of investment holdings, and provides many of those management teams with his bedeviling support.
#### Rolfe Harden
### Let Us Help You.
How can we help?  We have created customized solutions, for clients in the transportation industry and clients who invest in the financial markets, that produce the ability to consistently outperform the competition.
### How Can We Help You Be Best in Class?
#### Blogroll
* <
#### TV Interviews
Copyright © 2025 BROUGHTON CAPITAL — Primer WordPress theme by
# Donald-Smaller-Image-768×982
### Leave a Reply
Your email address will not be published. Required fields are marked \*
Comment \*
Name \*
Email \*
Website
# Preferred Color in front of trucks a
# AI IT
# BOBWORK
# Services
## OUR HISTORY
We have decades of transportation industry data that are unrivaled in both breadth and depth, and several proprietary data feeds.  This allows us the ability to provide dispassionate, deep data driven quantimental research with applicability to transportation companies specifically, industrials and the overall economy broadly.
### *WE ARE YOUR DATA PARTNER FOR E-COMMERCE, TRUCKING, BROKERAGE & LOGISTICS, RAILROADS & INTERMODAL, AIRFREIGHT & PARCEL, ECONOMIC FORECASTS, PRICING ANALYTICS, DEMAND FORECASTS, AND IN-DEPTH MARKET SIZING.*
###
## E-Commerce
* How is the order fulfillment executed and expedited?
* How is the last mile delivery and the return (reverse logistics) going to be handled with high enough service standards to win over and keep the customer?
* **We are the authority with decades of industry experience and contacts that stretch from Silicon Valley to Wall Street to Main Street.**
## More E-Commerce
* If you want the data on incremental assets being deployed (trucks, trailers, warehousing, planes) to serve the needs of e-commerce, we are an authority.
* If you want to understand all the factors driving the potential for real disruption in both the e-commerce and transportation service provider space, **we are the authority with decades of industry experience and contacts that stretch from Silicon Valley to Wall Street to Main Street.**
##
## **Trucking**
* If you want to know what happened to pricing for trucking before anyone else, based on freight bills actually paid, we are the primary source.  *Monthly*
* If you want to know how many trucking companies failed or trucks were pulled from US highways, we are the only source.  *Quarterly*
## **More****Trucking**
* If you want to understand what is happening in both the capacity and demand dynamic of trucking (dissected by mode – dryvan, reefer, flatbed) based on the data of hundreds of thousands of transactions, we are the primary source.  *Weekly*
* If you want to know how many gallons of diesel were consumed by a population of small trucking companies (over 7,000 companies with approximately 100,000 trucks), we are the primary source.  *Weekly*
## **Brokerage & Logistics**
* If you want to understand how much and how fast spot and contract pricing is going to change, as well as what the gap between the two will be and the magnitude it will increase or decrease. We are your source.
* If you want to understand all of the pricing dynamics described above for each mode, and in specific lanes. We are your source.
* Should you be more aggressive or more conciliatory on price or equipment? We know how to put you ahead of the competition.
## **Intermodal**
* If you want to know what happened to pricing for intermodal before anyone else, based on freight bills actually paid, we are the primary source.  *Monthly*
* If you want to understand how the price of diesel is changing the market share between intermodal and over the road truck, we are the authority.
## **Rail**
* If you want to know how segments of the economy (Auto, Housing, Steel, Chemical, Coal, etc.) are progressing based on rail car loadings, we have selective sort with decades of data.  *Weekly*
* If you want to know how specific railroads are doing on both a volume and productivity basis, we have a selective sort decades of data.  *Weekly*
## **Airfreight & Parcel**
* If you want to know what the international airfreight volumes were on a airport by airport, region by region basis, we are the earliest available public source.  Our proprietary data mining techniques provide us access to the monthly airfreight volume data before the International Air Transport Association publishes the data.  *Monthly*
* If you want to understand what is happening between the airfreight and expedited ground services, we have decades of data and industry expertise. *Monthly*
* If you want to understand the reasons behind FedEx firing Amazon as a customer, ask us. We know the real story and have both the data to prove it as well as the industry understanding to explain it.
## Ocean Cargo & Container
### *ECONOMIC FORECASTS, PRICING ANALYTICS, DEMAND FORECASTS*
## **Market Sizing**
### HOW IT COMES TOGETHER
Each of these data flows is measured with ever more detailed and sophisticated methods, and increasingly superior processes to determine what it means. More importantly, we understand that in the modern era of ‘big data’ it is not enough to have the most data, or even data others don’t have. In the age of ever more information, wisdom becomes ever more valuable.
We have developed econometric models and proprietary methods for:
* Predicting freight flows in each mode;
* Translating those freight flows into economic forecasts;
* Converting freight flows, marketplace data, and asset utilization metrics into earnings predictions for transportation companies.
* This allows us to provide cost effective, precision research that has value for investors in transports and investors seeking a differentiated, data based way of predicting economic outcomes.
Transportation stocks have the reputation for predicting the overall market #dowtransporttheory because the underlying goods flow is heartbeat of the economy. That goods flow becomes increased (or decreased) levels of asset utilization for asset intensive transportation companies, which becomes increased (or decreased) levels of financial returns, which becomes stock price. We understand that the stock price performance of transportation companies is only symptomatic of the underlying goods flow.
### *We can help you gain an advantage over your competitors. Let us show you how.*
# AMAZON fulfillment
# XPO\_Last\_Mile\_Delivery a
# XPO\_Robot\_Arms a
# XPO\_Supply\_Chain\_Facility a
# XPO\_LTL\_Truck\_Highway a
# Werner\_4
# XPO\_Software\_Engineer a
# XPO\_Intermodal\_Containers a
# XPO\_Drayage\_Port a
# Report and Data Subscriptions
Name(required)
Email(required)
Please share your contact information with us and then click the link below to download a copy of our latest report.(required)
Phone Number
Professional Role
Industry
Anything else you'd like us to know?
Submit
# 
### Logistics & Brokerage Reports
Monthly Update Report – Including margin forecasts by mode
Weekly Update Report
### Airfreight Reports
Asia Pacific Monthly (first to market)
Eurozone (first to market)
North America
### **Trucking Reports**
Trucking Company Failures
New Equipment – Trucks & Trailers
Used Equipment
Dry Van Monthly
Dry Van Weekly
Reefer Monthly
Reefer Weekly
Flatbed Monthly
Flatbed Weekly
### E-Commerce Reports
Quarterly Distribution Center Report
Quarterly Local Delivery Fleet Report
White Paper – *What is the Real Story Behind FedEx & Amazon?*
### Intermodal Reports
Domestic Intermodal
International Intermodal
### Railroad Reports
North American Weekly – with key economic takeaways
All report subscriptions and data access fees are sold for a fixed period of time, and are covered by the terms contained in the  agreement disclosures, as fully outlined in this link – 
# Broughton Capital LLC
Mailing address:                                                                    Headquarters physical address:
7750 Maryland Avenue, P.O. Box 16808                              11006 Manchester Road
Clayton, MO 63105                                                               St. Louis, MO 63122
roberta@broughtoncapital.com                                             andy@broughtoncapital.com
314-308-5911