NYU's 'All-Star' Portfolio Scores Profits With Video-Game Stocks
12/14/07 - 04:27 PM EST
Jonas Elmerraji
From Publishing to the Point of Purchase
According to Sangani, one of the more exciting areas to invest right now is the video-game retailing group. "We [the IAG] believe there are strong places we can place our bets and expect to put on a lot of 'pair trades.'" Sangani explains: "One [pair trade] that has been working out well for us, thus far, that we put on a number of times during the semester is long
Best Buy (BBY Quote - Cramer on BBY - Stock Picks) and short Circuit City (CC Quote - Cramer on CC - Stock Picks). I am very confident for next semester as there is a lot more long-term 'smart money' buying interest in financials and retail, the two areas hardest hit and where we can find solid picks."
In addition to their pair trade strategy, the IAG has put away some gains with retailer GameStop (GME Quote - Cramer on GME - Stock Picks), which it bought on Nov. 27 for $53.14 per share, then sold on Nov. 28 for $55.77 per share. Still bullish on the stock, the IAG bought GameStop again on Dec. 2 for $57.45 per share.
What's the IAG's next play and why? Stay tuned.
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