Our long history with gaming industries has taught us that the (gaming) business is largely immune to economic cycles. We believe the industry will remain in secular growth mode... We also expect our healthcare-related investment to be largely unaffected by any potential slowdown in consumer spending. On the positive side, growing concern about the affordability and accessibility of healthcare is beginning to translate into political action... This development has the potential to substantially enhance the financial performance of our hospital operators...
We have articulated in prior communications our rationale for investing in the newspaper industry, as well as our appreciation of the new term challenges it faces. It is important to reiterate out belief that Wall Street has overstated the industry's fundamental weakness in general, and the Internet threat in particular. The negative hype also fails to consider the value and durability of the local market content and advertiser relationships controlled by the newspaper companies. As the newspaper industry continues to demonstrate rapid growth in web-based advertising revenue, we expect valuations and stock performance to markedly improve.
Read the complete commentary
We have articulated in prior communications our rationale for investing in the newspaper industry, as well as our appreciation of the new term challenges it faces. It is important to reiterate out belief that Wall Street has overstated the industry's fundamental weakness in general, and the Internet threat in particular. The negative hype also fails to consider the value and durability of the local market content and advertiser relationships controlled by the newspaper companies. As the newspaper industry continues to demonstrate rapid growth in web-based advertising revenue, we expect valuations and stock performance to markedly improve.
Read the complete commentary
