Jonathan Boyar, president of Boyar Research, joined Grant’s Interest Rate Observer’s podcast this week to discuss a range of topics centered on markets and investing.
Jim Grant interviewed Boyar about non-index stocks, the importance of patience and the right partners who understand a manager's investing process. Boyar’s involves looking for companies with hidden assets, which led him to Madison Square Garden (MSG, Financial), as it owns the air rights above its property. He also looks for great consumer franchises that are masked by a corporate name, and spin-outs, such as Conduent (CNDT, Financial), which is 9% owned by Carl Icahn and was formerly a part of Xerox (XRX, Financial). Out-of-favor sectors he is currently interested in include retailers and media.
Boyar is a value-oriented firm that as of September consists of six analysts and investment professionals with backgrounds in finance, business and law.
Listen to the podcast here.
