The recent downturn in the markets has left virtually no sector unharmed. Tech stocks, industrials, biotechs—all have been pounded this year. What's a savvy financier to do? Might we suggest a sports-minded approach to investing?
Current price: $9.35
Wall Street wisdom: "One of the unique pro sports franchises," says Bear Stearns leisure analyst Marc Falcone. "The fan loyalty to the franchise, good arrangements with the FleetCenter, and their player salaries are in line."
Current price: $2.00
Wall Street wisdom: "A unique investment opportunity," says Schneider Securities VP Stephen Stark of the Arena football team. "We believe the NFL will exercise an option to acquire nearly half the league and significantly increase the value of the Predators."
International Speedway Corp.
Current price: $40.19
Wall Street wisdom: "Some are concerned about Dale Earnhardt's death," says CSFB analyst Scott Barry about ISC, which owns 12 NASCAR racetracks (including Daytona). "But the sport has never been better positioned to withstand his loss."
Current price: $28.56
Wall Street wisdom: "We've seen a decline in attendance at tracks," says Falcone, "but off-track wagering has increased. Churchill Downs has recognized this and created a broadcast company that sells the signal of races to OTB outlets around the U.S."