NEW YORK — When it comes to stock market history, the most surprising story isn’t the one about a stock that rose from the depths of a recession and soared through the stratosphere.
The most surprising stock story is the one that was born out of it.
“We were the only Canadian company to actually go public in the 1980s,” says Gary Bettman, the late NHL commissioner who helped steer Canada into the post-Cold War era.
This was an extraordinary time, when there were so many players and so many markets, and Canada had to be ready.
That is, unless you were the hockey team.
You know, we were just in the middle of a period of economic expansion.
So, you know, I thought the market was going to come crashing down, but we were the first to get out.
It was the biggest market-divergence market in the world at that time, and so we were kind of in the golden age of Canadian sports.
There was no shortage of money to be made.
You could go to the rink and play hockey or the ice hockey, and there was nothing like it in the entire world.
And the rest of the world was just trying to get ahead.
And we were like, ‘Yeah, you could go, but why?’
”It was like, we have so many different sports.
We have basketball, we’ve got football, we got hockey.
We have soccer, we play tennis, we are a soccer country.
We had a whole lot of other sports that were going on.
And so we went, ‘OK, we’ll take the leap and do what we want to do.’
And we didn’t have a lot of people at the time who knew the markets were going to go up, so we did a lot to try to get a foothold.
I think we had a pretty good idea what the market is going to do.
It was just a matter of building a lot more capital to build on what we were already doing.
But I’m very happy to say that we were right.
We got out in the early 80s, we had some bad loans, and we were not a very successful company.
We didn’t make a lot from it, but at the same time, we did build a lot.
And at the end of the day, our success was built on the strength of the stock market.
They started the Canadian hockey league in 1980, and the rest is history.
Now, I can tell you right now, the stock is going up again.
(The video above was posted in January 2017.)