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"Redneck" and "Wall Street" are not often mentioned in the same sentence, but they're close companions where Mark Travis is concerned.
The chief investment officer of Intrepid Capital Funds counts so-called "redneck" shares among his favorites.
Recommendations:
Topping his list are Speedway Motorsports [TRK
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] and International Speedway [ISCA
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].
"I think with the visibility they get from their TV contracts, the share prices are undervalued, and you can buy virtually debt-free businesses at eight to nine times operating income," he told CNBC.
"It's a virtual duopoly. They control the 20 biggest tracks in this country for stock-car racing."
Also on Travis's "redneck" list are Comcast [CMCSA
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] and Anheuser-Busch [BUD
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]. But isn't the brewer of Budweiser reeling under the pressure of soaring grain prices?
"'Reeling' is a relative term, when you control 50 percent of the U.S. market for beer sales," he said. "People tend to trade down in tough times, maybe quit drinking mixed drinks...and start drinking beer."
Disclosure:
Disclosure information for Mark Travis was not immediately available.
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