On Newspaper Stocks
I admit I’ve been watching newspaper stocks with some interest; but, I am not yet convinced of anything. However, I can say to those who have not yet taken a good look at newspaper stocks that they ought to do so.
I have no greater insight into the future than those who are selling these stocks. But, I do know that at times like these, when a general consensus is reflected in the quotations of certain stocks, those few investors whose analysis is both correct and unpopular will be rewarded, if and only if, they have the courage to eschew the flock and act upon their own judgment.
While there are not as many stocks trading at astronomical evaluations as there were half a decade ago; there are not many cheap stocks either. This is not the sort of market you throw darts at. Newspaper stocks are a rare oasis of pessimism in a desert of optimism. Whether that pessimism is undue or not is a matter for you to decide.
If you’ve already considered this matter, please share your thoughts with us by commenting below. For those who have yet to delve into the matter, you’d best get started now. I can suggest five stocks of interest: Daily Journal Corporation, Gannett, Journal Register Company, Journal Communications, and The New York Times Company.
I’m not saying these are necessarily any more promising than the rest of the group. But, if you are looking for bargains, they are a good place to start.