Ariel's John Rogers discusses recent opportunity in Madison Square Garden (MSG, Financial) and International Speedway (ISCA, Financial), as well as the firm's analytical adjustments in the wake of the financial crisis.
He thinks Madison Square Garden has huge moat and pricing power and when the stock was oversold during the NBA lock out he was able to buy a very good business at a cheap price.
He thinks similar about International Speedway which is closely associated with NASCAR. It has a huge moat and has been beaten down as people are worried that upcoming contract with advertisers will not go well. He thinks that NASCAR is holding its rating pretty well and contract should get good value to International Speedway (Click here "ISCA, Whats not to like about NASCAR" to read my analysis on International Speedway)
Here is the video:
He thinks Madison Square Garden has huge moat and pricing power and when the stock was oversold during the NBA lock out he was able to buy a very good business at a cheap price.
He thinks similar about International Speedway which is closely associated with NASCAR. It has a huge moat and has been beaten down as people are worried that upcoming contract with advertisers will not go well. He thinks that NASCAR is holding its rating pretty well and contract should get good value to International Speedway (Click here "ISCA, Whats not to like about NASCAR" to read my analysis on International Speedway)
Here is the video:
