Barron's Roundtable: 2025 Investment Wins and Losses

Reflecting on 2025 Investment Performance

• 🗓️ The annual tradition of reviewing investment wins and losses from 2025 is underway as the Barron's Roundtable signs off before the new year.

Notable Wins from 2025

• 🚀 Ben highlights RTX as a significant win, picking it in February. Despite initial worries about engine parts and defense margins, both issues were resolved, leading to improved earnings and margins, and a 37% stock gain.
• 🛍️ Megan is proud of her pick, TJX (TJ Maxx, Marshalls, HomeGoods), which has performed well in the current economy, appealing to consumers looking for value and the in-store shopping experience.
• 🏀 Andrew's favorite pick, MSG Sports, which owns the New York Knicks and New York Rangers, saw a 20% gain since May. The company is valued below its sports franchises, with potential for monetization.

Significant Losses and Misses in 2025

• 📉 Ben's pick, Netflix, is his biggest regret. After gaining 30% until July, it dropped 7.4% following a downgrade due to valuation concerns and uninspiring earnings, further impacted by the Warner Brothers Discovery situation.
• 🛒 Megan's mulligan is ASO (Academy Sports and Outdoors). Despite expansion efforts, comparable sales have lagged, making it a frustratingly flat company this year.
• 📺 Andrew's major loser was Comcast, the leading cable company, down about 20% due to increased competition. He believes it could see a turnaround in 2026 due to its low valuation and dividend yield.

Outlook and Future Considerations

• 💡 The team discusses the potential for a better year in 2026 for companies like Comcast, noting their low valuations and dividend yields.
• 📈 The potential monetization of the Knicks or Rangers by MSG Sports is seen as a positive outlook for MSG Sports shareholders.
• 🎁 Megan humorously suggests that the tradition should include eggnog or spirits next year.