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What'sHot Today: |
U.S. stock index future were pointingto a higher opening. Today's Economic Calendar:
Crude oil prices back above $40. |
This is a special Market IQ Report.Disneyworld - December 29, 2008, 08:00 A.M. Shares ofThe Walt Disney Company (NYSE: this) seem to be undervalued, at leastbased on the Peter Lynch principle of analysis, where actually goingout and looking at the business yields tangible evidence of prevailingconditions. We've been here since Christmas day and have seen nothing but hugecrowds at every park, including Magic Kingdom, Disney's HollywoodStudios, and EPCOT Center where there were 45 minute waiting times toget on rides that most people would normally ignore due to their lowthrill potential. The on-site restaurants are all full for those without reservations.Buses and boats to all parks are full to capacity, and one Disneyworker told us that Magic Kingdom alone saw 72,000 visitors cross thegates on Christmas day. We've seen and spoken to visitors from Japan, Argentina, India,England, and New Zealand, as well as visitors from the United States,where our non-scientifica methods suggest lots of folks from Floridaand the East Coast are visiting. There are lots of locals apparent, and the parking lots are full ofcars, with lines forming at night to take visitors back to their carsin shuttles. All in all, three major trends are apparent. First, Disney parks, atleast Disneyworld, continues to be a major global attraction, and isperceived as a value, despite very high prices for all items, includingfood, drinks, admission, hotel stays, and souvenirs. Second, much of this is being aided by the low dollar, as the number offoreign visitors to this park, is the highest we've ever seen. And third, lower oil prices are playing a significant factor, given thenumber of cars visible in all parking lots. Conclusion |
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