Are golf stocks a good bet for a troubled economy? - Zac Bissonnette

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Are golf stocks a good bet for a troubled economy?
Apr 23, 2008 05:40 PM UTC

Zac Bissonnette

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Symbol	Sentiment	Start	Return	Closed
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Filed under: Stocks to Buy

With the generally gloomy outlook for the economy and consumer spending, many investors are looking for "recession-proof" industries and companies: tobacco, gambling, alcohol, and pornography (you have to find something to do if you lose your job!).

But how about golf? The latest issue of GolfWeek asks the question, Is golf recession-proof?

Gordon Dalgleish, president of Perry Golf, told GolfWeek that "We can think of no other consumer-oriented business that is as insulated from the effects of general economic conditions other than beer, cigarettes, and perhaps video games."

Gilford Securities analyst Casey Alexander added that golf is "more recession resistant than other consumer-oriented activities ... A weak economy rarely has much negative impact on overall golf spending, just as a strong economy rarely has a positive effect on overall golf spending."

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Walter Thatcher

74%

1 point commented 572 days ago reply

Wow these guys had an awful quarter. Their year over year sales growth was a miserly 1%. Their earnings dropped by about 80% year over year. You can listen to their conference call today at 4:30 pm. The CEO will explain away the quarter by saying the brand and market share saw growth. I hope the additional debt they piled onto the balance sheet was worth it.

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