MGM Mirage backed by T. Rowe Price
- MGM Mirage
- Vegas News
- Investments
With the majority of financial minds betting on the collapse of the MGM Mirage, portfolio manager of T. Rowe Price, Jospeh Fath, was doing the opposite. Continuing to buy shares, T. Rowe Price has found themselves the largest outsides shareholder of the MGM Mirage, owning 7 percent of the stock. With job cuts declining and home foreclosures clearing, Fath believes things can only get better for the Gaming giant.
The majority of Fath’s optimism in the MGM Mirage is based on recent growth in the GDP, rather than a simple company strategy. He has been looking at retail inventories and shipments rather than simply glitz and salesmanship that the Strip has been primarily known for.