I’m going to let you in on a little secret… I have a few favourite stocks that have very little to do with tech.

I think they’ll surprise you.

Admittedly, many of my favourites today centre around the buildout of AI. That shouldn’t be a great surprise to anyone.

And even with the big sell-off, the wild volatility, the fear, and the misunderstanding of the market and where it goes next, I’m still wildly bullish on AI stocks over the next few decades.

I think AI will be the most important technological development we’ve seen since the internet. And I think adopting and using AI will be one of the most important skills you can learn today, whether in your personal or professional life. Laggards will get left behind.

This is why you’ve seen a bit from me recently, including my interview with the man described as “the Godfather of AI investing.”

He’s been working on AI systems for decades, well before AI as you know it today was even a thing.

I’m of the view that you need high-quality AI tools at your disposal to invest, and the longer you hold out against using them, the harder it will be to find an edge in the market.

I believe it so much that I built an AI engine over the last few years called Hyperion.

And the Godfather of AI investing, whom I interviewed (you can watch the replay here), built one, too. He’s been at it longer than me. But we have the same end goal in mind.

In the same way that AMD and Nvidia are trying to achieve similar goals with their AI chip development, the Godfather of AI investing and I are trying to do the same with our AI investing tools: help individual investors navigate the market in a more comprehensive and potentially profitable way.

I think you should hear what he has to say right now, if you haven’t already.

But today, I want to talk about a favourite stock or two of mine that might surprise you…

Pick apart everything

Not everything I look at is tech-based. I love to look at and pick apart everything from energy and commodities companies to consumer goods and entertainment.

One of the things I like to do every other year or so is head over to Las Vegas for the big consumer technology show, CES.

One of the big drawcards in Las Vegas, aside from CES, is the Sphere.

It is amazing.

I’d go so far as to say it’s one of the greatest entertainment venues in the history of mankind.

It’s up there (and this may cause some debate) with the Colosseum.

Big call, I know, but until you’ve seen this thing in the flesh, it’s hard to comprehend the scale and impressiveness of it all.

Today, Sphere is part of Sphere Entertainment (NYSE: SPHR). The stock is up around 60% in the last year, even after falling about 44% in the last few months.

Sphere is one of my favourite “non-tech” companies, but it’s one of a few that all share a common thread and a complex past…

The Dolan empire

Sphere is part of the Dolan family empire. Charles Dolan was a media mogul who founded HBO. He was subsequently bought out of HBO, for not much money (believe it or not), but used the money to start Cablevision.

Cablevision became massive, making Dolan a billionaire. But it was also the foundation of the MSG companies.

Through acquisitions, Cablevision ended up with several sports and venue assets. Notably, more or less anything and everything to do with Madison Square Garden.

Question: Two companies own valuable assets. One owns a famous sports team. The other owns the stadium it plays in. Which would you rather invest in?
The sports team
The stadium
Both equally
Neither — I’d prefer a different business


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In 2010, Cablevision spun out the New York Knicks (NBA team), New York Rangers (NHL team), Madison Square Garden venue, and MSG Networks, all as one company, Madison Square Garden.

Cablevision also eventually spun out AMC Networks and was bought in 2016 for $17.7 billion. But the Dolans retained control over AMC and the MSG companies.

By this stage, the MSG companies had been split into MSG Networks, with the teams and venues retained within Madison Square Garden.

In 2020, Madison Square Garden changed its name to MSG Sports and spun out the venue businesses into MSG Entertainment.

MSG Entertainment then bought out the old MSG Networks business in 2021.

In 2023, MSG Entertainment renamed itself Sphere Entertainment (now with the Sphere among its assets) and spun out the “new” MSG Entertainment, with Madison Square Garden, Radio City, the Chicago Theatre, and others.

The teams were all still part of MSG Sports at this time.

But this year, only weeks ago, MSG Sports changed its name to MSG Knickerbockers (NYSE: MSGK), retaining ownership of the NBA team, and spun out MSG Rangers (NYSE: MSGR), which owns the NHL team and others.

Today, the Dolans effectively control:

  • Sphere Entertainment (NYSE: SPHR), which owns the Sphere, MSG Networks, and TV channels.
  • MSG Entertainment (NYSE: MSGE), which owns Madison Square Garden and other live venues.
  • MSG Knickerbockers (NYSE: MSGK), which owns the NBA team.
  • MSG Rangers (NYSE: MSGR), which owns the NHL team.

All that from a relatively small cheque for selling HBO…

Why am I telling you this?

I think these are the kinds of companies that will become more valuable as the buildout of AI continues. The world may end up placing far greater value on “in-person” experiences and events than we’ve seen in the last couple of decades.

In fact, I reckon that, like a pendulum, we’ll swing heavily towards the AI experience, and then there will be an entire generation that begins to place greater emphasis on doing things with other humans around.

Venues, events, concerts, games, sports, all high-tech and engaging experiences, and all the kinds of things the Dolan-controlled companies excel at.

It’s also a reminder that the market doesn’t revolve around AI stocks and related supply chain companies. There’s a huge number of opportunities in the market that are not AI, but that we can use AI to help us find.

And while I’ve known about these companies for some time, what I found interesting is that I ran a couple through the AI brains the “Godfather of AI investing” has developed, and the system also thinks I’m onto something.

While it’s not currently one of the AI system’s top 10-rated stocks, MSG Entertainment (NYSE: MSGE) ranks 67th out of the 5,800 or so stocks it’s analysing.

Here’s what it says about the key pillars it looks at:

Now, of course, this isn’t to say you should rush out and buy MSG Entertainment, Sphere Entertainment, or any of these companies. But it’s encouraging to see the AI system ranking them highly, particularly given my own view of where the world is heading next.

What’s even more fascinating though, is the system’s current top 10.

There’s an engineering company, medtech, biotech, resources, an oil tanker company, an air pollution company…

Not a great deal of AI (somewhat to be expected at the moment), but still the list contains an incredibly interesting and diverse set of companies.

As I say, the world as we know it will change thanks to AI. I think everyone should be using AI in their investing in some shape or form, and that’s why you should watch my interview with the Godfather of AI investing today.

Just remember, AI stocks, as great as I expect they’ll be, aren’t the only things in the market worth a look. Be it engineering, medtech, or good old-fashioned sports and entertainment, there’s a little bit of everything for everyone, and plenty of potential profit to be made.

Until next time,


Sam Volkering
Investment Director, Southbank Investment Research