I have kids, so I know about sending cash to Disney on a regular basis. This interview highlights what separates wisdom versus experience. While the segment was focused on the streaming angle (competition for Netflix), the reality is that 40% of what Disney makes comes the old fashion way - getting people to fork over huge amounts of money to visit theme parks. To quote myself: "Theme parks are the cash cow. you take away a cash cow in a bearish market, you're toast." Now, do I think that is the case? I don't care, because you buy the stock and not the company. Right now we are seeing a market price in problems for parks. We can only guess the recovery if virus fears end and people keep on spending. We can also guess what would happen if Disneyland closed in the US for a week. It's another reason I like to buy index funds instead of betting on individual stocks.
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