Wednesday, July 16, 2008

Look at MGM

Today an "analyst" at Merrill Lynch downgraded MGM. He cited financing concerns, and the idea that Kirk Kerkorian or Dubai World wouldn't buy the company.

I didn't know that Merrill Lynch was Kirk Kerkorian's spokesman!

Kirk is 91. He probably doesn't know what he is going to do the next day, but Merrill now thinks they can speak for him? And now they see something they don't like in MGM after it has fallen from 100 to 25?

Look at the pricing in the hotels in Vegas. September is almost sold out, and pricing is already much firmer than August.

Disregard Merrill Lynch and buy the stock at 25.

No comments: