Friday February 24, 2012
by Stephen Leeb, editor The Complete InvestorOne of most exciting sports stories to come along in some time: the rocket-like ascent of new point guard Jeremy Lin of the New York Knicks. And there's a legal way of betting on Jeremy Lin that doesn't require a bookie.
There's a very well-run franchise involved here, with tremendous underlying values, called
Madison Square Garden (
MSG), which was first recommended in our Income/Value portfolio last April.
The company owns both the Knicks and the NHL's New York Rangers (who are playing well this year, too), plus a lot of valuable New York City property. This is a company, therefore, that meets every criterion for being a franchise.
And it gives you a chance, especially if you're a New Yorker, to enjoy a winning home team and a winning investment.
MSG just a 52-week high attributed to investor excitement about Jeremy Lin and the Knicks's chances in the current NBA season.
If Lin is for real and he can maintain his current level of play, expect the stock to continue to climb. If not...just wait till the next superstar sports sensation comes around.
Either way, Madison Square Garden is going to continue to be world-renowned sports and entertainment venue, a place that your grandchildren and great-grandchildren and great-great grandchildren are likely to visit. It is, after all, a great franchise.
Learn more about this financial newsletter at Stephen Leeb's The Complete Investor.
