John Rogers bets on city rebound with Madison Square Garden

Ariel Investments founder John Rogers said he’s betting New York’s hottest entertainment hubs will rebound from the Covid-19 pandemic—one of the reasons his firm bought shares of Madison Square Garden Entertainment Corp.

“It’s an iconic brand,” Rogers said Friday in a Bloomberg Television interview. “As the delta variant eventually ends, people will be back in the Garden watching the Rangers, watching the Knicks, going to concerts. It’s going to be an extraordinary business.” 

Rogers, 63, is a veteran of the U.S. fund industry after founding Chicago-based Ariel in 1983. The firm sells mutual funds and other investment vehicles, with a focus on value investing. 

The pessimism that

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