Netflix just experienced its’ judder moment – and it is shaking markets. Overnight the streamer became a completely different investment proposition, even though we’ve been warning it was inevitable. There are lessons to be learnt across the equity market.
“Hi. My name’s Bill, and I am a Netflix addict..” The streaming wars may be heading in a completely new direction as brilliant disruptive programming demonstrates the potential value of “Content” not just on TV, but for the Metaverse also. I think I just glimpsed the future – and for some it’s going to work.
Disney has just posted some great results on subscription growth, begging questions what it means for Netflix. Will the sector’s founder survive the current attritional Streaming Wars? And what’s it really worth?
The last thing new UK premier Liz Truss will try to do is fix the NHS. Too difficult and an electoral minefield. It will get worse. But, tech and medical advances plus a bit of flair could give us a new NHS fit for purpose and ready for the next century. It will take will and imagination – which is unlikely to be found in the Department of Health or No 10.
Harry Hindsight is the greatest trader who ever lived. He saw the July/August rally was just a bear trap. But, he’s not revealing his thoughts on how much further the market has to correct. Some analysts see mean reversion all the way back to 2008 levels!
ESG is getting a bad press these days, blamed for energy insecurity and much else wrong with the allocation of capital. It needs to be refined: ESG version 2.1 will be critical for addressing the massive threats arising from social injustice and income inequality.
Markets look distinctly soft, and vulnerable to further downside pressure. The gaps between value, hype and narrative are becoming clearer – spelling opportunity, but also raising the risk of a crash.
After the brutal lessons of April, May will set the tone for a new market – lots of threats, but full of opportunity.