A couple of the best ways to find true value investment opportunities include buying the worst company in the best industry, or the best company in a poor industry. That's the story of Cinemark Holdings (CNK); we see it as the top company in a struggling, and perhaps misunderstood, industry.
Innovation has crippled many an industry over the last decade. And so, it's no surprise that the likes of tablets, Netflix and fancy TVs have changed the movie watching experience. Many have been calling for the demise of movie theatres for several years now, whether it be from industry headwinds, customer-related headwinds or all around business model headwinds.
All in all, we think Mr....
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