Money Investor
Long/short equity

Expensive Shoes But Cheap Shares At Foot Locker

I love simple concept investment opportunities focused on businesses built to succeed in good times and bad. The business of selling athletic shoes is one which is highly profitable and somewhat insulated from the larger economic backdrop. It is a great business for a couple of reasons, specific to the athletic segment. First, this segment thrives on youth sports. The great thing about young people is they grow up, and most of the time their feet grow with them. Bigger feet = bigger shoes = new shoes, no matter what the current economy may look like. Second, this is a brand-dominated industry. Consumers want the latest version of Michael Jordan's basketball kicks and will pay close to half of what...

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