If the stock market were a horse race (instead of the results of the rat race), Magna Entertainment
You rarely see Magna as a Nasdaq most active, as it is today. Do due diligence -- Wall Street's equivalent to studying the racing form -- and you will see some really lame numbers. Earnings are negative -- and projected to be that way in 2005, too. The real stinker is a return on equity of a negative 13%.
To horse-racing enthusiasts, Magna is heaven on earth. There are 12 thoroughbred racetracks, two harness racing tracks, two combined thoroughbred and harness racing tracks, and one greyhound racetrack -- and ample wagering venues. It owns Santa Anita Park, which basks in the California sun. (So why is this Delaware Corporation headquartered in Ontario, Canada?)
An interesting announcement today is that 10 million subscribers of the EchoStar
How much is a satellite and cable network worth? Disney
Those thinking, "Wow, what a great opportunity" will find that excitement being diluted. Also announced today is a $7-per-share offer by real estate company MI Developments
There are still horse-racing pure plays such as Churchill Downs
Want to read more from the Fool on horse racing? Take a look at:
- 7 Lessons From the Racetrack, by Matt Logan
- Investing In a Horse, by Rex Moore
- Standing at the Gate, by W.D. Crotty
Fool contributor W.D. Crotty owns stock in Disney and News Corp.