Walt Disney Co. (DIS-N)

It has been tough to own. She doesn't see a catalyst near term, but they are getting their streaming business in line and will survive streaming, as they invest in their theme parks. 1.3 million Canadian visited Orlando in 2023, so will they come back?

Lumpy road to recovery, but Iger's making progress. Streaming is becoming profitable. Content offerings are turning around, with a huge library. Parks have slowed, investment has increased; yet still a destination vacation for many across the world. Good growth in cruise ships. Undemanding multiple under 20x PE. She's being patient; upside from here.

The price hikes must stop at the theme parks and focus on getting more people into them. It's good to hold now, because of the valuation and streaming is more profitable than it was projected a year ago.

Profits not appearing from streaming. Sold stock 4 years ago. Management issues and problems with business have not been good. Will take time to see if business can turn around. 

They reported a terrific quarter: theme parks much better than expected, movies fantastic, TV and sports positive. But there was one line in the report that said that when they raised prices they lost 1% of subscribers in Q4. So, shares fell 2.44% today. He expects people will forget why they sold Disney and its shares will be higher.

It reports Wednesday. Hurricanes impacted last quarter and the LA wildfires could impact the forecast in this quarter. But all else is hitting on all cyclinders incuding linear TV. Could be putting recent weakness behind them, and shares are historically cheap.

Streamers, including DIS, will work in 2025, unlike in previous years.

Happy with results this morning. Increased profitability from streaming. Struggling lower- and mid-income consumer impacting park revenues; probably a short-term concern. Phenomenal content library.

A definite hold, though you can probably add to it here. It reports Thursday and he wants to hear how the streaming business is going, and are the theme parks recovering. A lot of things 

Disney reports next week. It ranks 4 out of 4 in streamers in terms of making, but still feels that CEO Iger is doing a good job in taking out capacity.

ESPN is now stable, their movies are on fire, their cruises are coming, but theme park attendance is hurting them. Also, he wishes they would clarify how much they owe Comcast for Hulu. Shares are up lately, but not enough.

Being diversified helped it withstand all the pressure. Never hitting on all cylinders. Plans for future involve increasing investment in parks, and he'd prefer less cashflow intensive. Turnaround not playing out as he anticipated. An incredibly discretionary expense. 

He sold on strength. Not ready to look at it again. You need to have a long time horizon, and be willing to accept that the business will be more cyclical in future.

Trades at only 18x PE after coming down a lot. He'd buy it today. Shares have come down because of hurricanes hitting their Florida theme park. DIS is doing better than people realize.

Streaming has been less exciting than people hoped. Wandering around in no man's land. Technically, not a great reason to buy unless you're a bottom fisher, and that's a dangerous game. Let things improve before putting $$ to work.

He's counting on profits to be a lot higher than expected next year.