Billboard Monopoly

Irreplaceable physical ad assets: billboards, airports, transit — frozen permits = moat

Billboard & Outdoor Media Monopoly

Total Return

+38.1%

Sharpe Ratio

0.47

Max Drawdown

-22.3%

Win Rate

56.3%

Alpha

-11.7%

Comp. Score *

0.04

Risk Parameters

Max Allocation6.3%

Stop Loss22.3%

Take Profit5.7%

Max DD Tolerance22.3%

Rebalanceweekly

Execution Guidance

Order TypeLimit

Entry RuleBuy 0.5% below market in uptrend.

TimingSAFE TO BUY. *

ScalingEnter in 3 tranches over 1-2 weeks.

Positions — Vol-Adjusted Sizing

Symbol	Action	Vol	Stop Loss	Take Profit	Size	Links
OUT	BUY	35%	32.5% below entry	8.3% above entry	4.4%	TV YH
CCO	BUY	53%	40.0% below entry	12.7% above entry	2.8%	TV YH
MSGS	BUY	26%	24.4% below entry	6.2% above entry	5.8%	TV YH
LAMR	BUY	24%	22.4% below entry	5.7% above entry	6.3%	TV YH

▶ For Passive Investors (Buy & Hold)

This strategy has moderate long-term potential but requires monitoring. - Take profit: Rebalance when any position exceeds 2x its target weight. Trim back to target, redeploy to underweight positions. - Stop loss: NO price-based stop loss. This strategy recovered from -34% drawdown to return 66% long-term. - Exit rule: Exit only if regulation breaks the monopoly (antitrust action).

Avg 5Y Return

48.9%

Avg 5Y Sharpe

0.31

10Y Return

65.7%

10Y Sharpe

0.15

HODL Composite

0.17

Consistency

60%

Suitable for passive