Boyar Value Group on the value in MSGS, IAC, and ANGI
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Jonathan Boyar and Shrey Patel from the Boyar Value Group discuss their firm's background and their process for finding stocks trading for less than private market value. Then, we dive deep intro four of their favorite stocks: MSGE (owns Madison Square Garden), MSGS (the Knicks and Rangers), IAC (Barry DIller's holding company), and ANGI (homeadvisor + angie's list). Topics include why James Dolan isn't as bad a manager as you think, why MSGE's Sphere expansion might not be a disaster, IAC's pending Vimeo spinoff, and what the market is missing on ANGI.
Boyar Website: https://www.boyarvaluegroup.com/
Boyar Twitter: https://twitter.com/BoyarValue
Boyar Podcast: https://www.boyarvaluegroup.com/world-according-boyar-podcast/
Chapters
0:00 Intro
1:20 Boyar Group Background
3:30 2008's market versus 2020's
6:10 Why MSGS trades for less than its parts
18:30 Why do value investors love IAC?
20:30 ANGI bull case
36:20 Why IAC is spinning Vimeo
42:50 What IAC sees in MGM
47:45 Plans for IAC's huge cash balance
51:15 Thoughts on IAC's management and succession plan
54:05 Thoughts on IAC's other businesses