Investor enthusiasm often follows narrative momentum, yet disciplined capital allocation typically depends on identifying mispriced assets rather than chasing popularity. During the Barron’s Roundtable 2026, Mario Gabelli recently framed the opportunity in experiential sectors clearly: “My point is, a lot of money is spent on experiences and live sports.”

That observation helps explain continued interest in media, sports franchises, and entertainment assets as institutional money searches for differentiated exposure.

Valuation arbitrage remains central to his approach. Discussing Madison Square Garden Sports, he noted that simple arithmetic can highlight disconnects: “Divide the total by 24.1 million shares and you have…