Updates on Asset-Based Value Plays
This is certainly becoming an interesting time for asset-related plays, primarily those that have some real estate exposure. Look no further than Madison Square Garden (MSG), a name I've owned since late 2010. The company, which owns, among other things the Madison Square Garden complex (and associated air rights), the New York Knicks and the New York Rangers, continues hitting higher highs. Shares are up 60% since October, when the basketball lockout was weighing on the name.
That run-up might send some to the sidelines, locking in their gains, but I'm in it for the long haul. According to Forbes, the Knicks are the No. 2 most valuable NBA franchise, worth an estimated $900 million. Forbes lists the Rangers as the NHL's second most valuable franchise, worth an estimated $507 million. The company has a total enterprise value of $2.5 billion, and the Knicks and Rangers alone are worth more than $1.4 billion....393 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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