Breakingviews

Dodger blue outshines gold after $2 bln deal

March 28, 2012

The sale of the Los Angeles baseball team represents almost a five-fold gain in value since 2004. Gold aside, returns on sports franchises blow away most other major asset classes, including stocks. The demand for such trophy investments from the ultra-rich is stoking prices.

Disney chief’s unlikely fairy godfather: Murdoch

November 21, 2012

With News Corp snapping up a piece of the Yankees TV network, Bob Iger’s battle with Rupert Murdoch is becoming more intense. But News Corp’s rich price for the deal implies a punchy valuation for Disney’s much-coveted ESPN. That could make the whole Magic Kingdom worth more.

Yankees boss will be missed on Wall Street too

July 13, 2010

George Steinbrenner will be mourned by lovers of pin-stripes everywhere -- both financiers who button their suits on Wall Street and fans of the baseball team that sports them at Yankee Stadium.

SAC’s Steve Cohen may be the A-Rod of Wall Street

August 7, 2013

Like the Yankees slugger, the hedge fund boss faces sanctions for alleged use of an illegal “edge.” It’s unclear that either broke arguably fuzzy rules. And trying to level their respective playing fields may be futile. Ultimately, baseball and Wall Street are bigger than both.

Fund managers could learn from hometown Red Sox

October 30, 2013

The team is a win away from being baseball’s champs. Its success hinges on the disposal of concentrated long-term bets in favor of liquidity, early-stage backing and steadier assets. Such diversification is a good reminder for the Boston-based investment industry and beyond.

Review: Moneyball flaws can be found in finance

March 28, 2014

“The Sabermetric Revolution” debunks some of the numerical analysis craze sweeping baseball. Two Smith College professors expose how many of the stats rely on poor measurement, dodgy theory and small data sets. Even good metrics quickly get arbitraged. Just like on Wall Street.