Investing in American culture and the 300-lb gorilla dictating it or How have I somehow managed to have never written about a company whose name almost always comes up in discussions of capitalism.
6/5/2015
Walt Disney Co (NYSE:DIS)
They own marvel, Pixar, Starwars, all the princess movies, and copyright law itself. If you're not familiar with Eldred v. Ashcroft and Disney's involvement in re-writing the copyright laws to suit Disney itself, then just know that Disney has cemented it's ability to extract 99% of all revenue possible from anything itcreates publishes through aggressive copyright management despite those creations themselves being works of lapsed copyright. It's an amazing thing to have a legislated monopoly and a team of lawyers trained on the Sith homeworld to give you an edge. Disney is so diabolical that you can't help but own shares in it rather than be crushed by it.
Price at write-up $110.34
Target $145
Valuation Ratios
Price/Earnings (TTM) . . . . .23.73
Price/Sales (TTM) . . . . . . . 3.69
Earnings per share . . . . . . .4.65
Price/Book (MRQ) . . . . . . .4.07
Price/Cash Flow (TTM) . . .17.27
Held by institutions . . . . . . .59.84%
Short interest . . . . . . . . . . . .2.70
Dividend . . . . . . . . . . . . . . .$1.15/1.03%
MarketCap 187.2B
The well tolerated anticompetitive practices of this company are a little amazing. Re-imagining 300-year-old works in the public domain (Rhodopis 7BCE, Pentamerone 1634, Grimm's 1812, and finally Disney 1950) and making them unusable to others for at least another 70 years is impressive. In fact, I fully expect the copyrights not to expire in 2020 as currently slated and instead copyright is likely to be extended again as it has been the last five times Mickey Mouse's copyright has been set to expire. It's an affront to the creativity, culture, and the idea of copyright as originally setforth, but here's your chance to get in on all that shady cash. Starwars episode 7 is likely to be the highest grossing movie of all time, and Disney will have the market cornered on Starwars until somewhere between 2072 and forever. So Disney's gotsome time several lifetimes to make good on it's $4 billion dollar acquisition of Lucas Film.
I bought this at an average of $85/share, sadly I never pulled the trigger when it was $18 due to its business practices but I've since given up all hope in legislative bodies ever doing the right thing for society. Disney's stock price is unlikely to go back to those depths anytime soon with all the recent marvel releases, and all aforementioned intellectual capital acquisitions and their respective upcoming releases. $92 would be a good price, but if you could pick it up for $98 I'd be a bit surprised but that would certainly be more than fair. Unless copyright law unforeseeable changes back to a reasonable 40 years or so this is a long-term accumulate for me and as such I'll likely buy some at market price now with additional dollar cost averaging bids going into the future.
Due Diligence - Fox, Via, LGF, TWX, MSG
Walt Disney Co (NYSE:DIS)
They own marvel, Pixar, Starwars, all the princess movies, and copyright law itself. If you're not familiar with Eldred v. Ashcroft and Disney's involvement in re-writing the copyright laws to suit Disney itself, then just know that Disney has cemented it's ability to extract 99% of all revenue possible from anything it
Price at write-up $110.34
Target $145
Valuation Ratios
Price/Earnings (TTM) . . . . .23.73
Price/Sales (TTM) . . . . . . . 3.69
Earnings per share . . . . . . .4.65
Price/Book (MRQ) . . . . . . .4.07
Price/Cash Flow (TTM) . . .17.27
Held by institutions . . . . . . .59.84%
Short interest . . . . . . . . . . . .2.70
Dividend . . . . . . . . . . . . . . .$1.15/1.03%
MarketCap 187.2B
The well tolerated anticompetitive practices of this company are a little amazing. Re-imagining 300-year-old works in the public domain (Rhodopis 7BCE, Pentamerone 1634, Grimm's 1812, and finally Disney 1950) and making them unusable to others for at least another 70 years is impressive. In fact, I fully expect the copyrights not to expire in 2020 as currently slated and instead copyright is likely to be extended again as it has been the last five times Mickey Mouse's copyright has been set to expire. It's an affront to the creativity, culture, and the idea of copyright as originally setforth, but here's your chance to get in on all that shady cash. Starwars episode 7 is likely to be the highest grossing movie of all time, and Disney will have the market cornered on Starwars until somewhere between 2072 and forever. So Disney's got
I bought this at an average of $85/share, sadly I never pulled the trigger when it was $18 due to its business practices but I've since given up all hope in legislative bodies ever doing the right thing for society. Disney's stock price is unlikely to go back to those depths anytime soon with all the recent marvel releases, and all aforementioned intellectual capital acquisitions and their respective upcoming releases. $92 would be a good price, but if you could pick it up for $98 I'd be a bit surprised but that would certainly be more than fair. Unless copyright law unforeseeable changes back to a reasonable 40 years or so this is a long-term accumulate for me and as such I'll likely buy some at market price now with additional dollar cost averaging bids going into the future.
Due Diligence - Fox, Via, LGF, TWX, MSG