Nice. You were more patient than me. I bought Disney at $92 and sold today. I had FOMO and wasn’t as disciplined as I would have liked. What is the opposite of FOMO, fear? Maybe I succumbed to that today.
I sold because I’m unsure of where this economy is going to be in a year.
My thinking today is that:
-other revenue streams aren’t doing much right now; cruises/hotels/parks/restaurants/retail stores/movie theatres shuttered
-ESPN with no major sports playing results in ad revenues declining; the 10 part Jordan docuseries has had good numbers; if I recall correctly, ESPN costs cable providers $9 per subscriber but how many cable subscribers have dropped it due to no sports-I would think a lot
-major movie releases delayed
-Disney+ has had a lot of subscriptions which will probably rise more the longer the lockdowns remain but I’ve read that this segment isn’t yet profitable
In ten years, I think Disney will be fine but I don’t know.
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