Antipodes Partners portfolio manager tips Disney as her stock pick at the Sohn Hearts & Minds conference.
Her thesis is that traditional competitive “moats” are under siege.
Streaming has disrupted pay TV, on-demand services challenge fast-food convenience, and wellness trends are reshaping snack companies.
Yet in her view the 100-year-old NYSE-listed content giant is being unfairly painted as a casualty of this disruption.
Pay TV subscribers have fallen from 100 million to 65 million since 2015, streaming costs have ballooned, and sports rights keep climbing.
Consequently, Disney trades at the same 14.5x PE multiple it did a decade ago. But Ross argues this misses the real story.
Linear TV’s decline is now overshadowed by profitable streaming growth, ESPN’s scale advantage, and a 16,000-acre Experiences portfolio generating over 60 per cent of free cash flow.
A rapidly expanding cruise business—from four ships to thirteen—adds a further growth lever. With 10 per cent compounding earnings growth forecast and a potential re-rating, Ross sees a 20 per cent annual return opportunity hiding in plain sight.
This article was originally posted by The Australian here. Licensed by Copyright Agency. You must not copy this work without permission.
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According to Singapore-based global strategist with Rabobank Michael Every, countries have spent decades optimising for quarterly or annual GDP numbers without asking what growth is actually for: and that is safety, sovereignty and resilience.
Sohn Hearts & Minds today announced that Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, will headline the near-sold-out 2026 Investment Leaders Conference in Queenstown, New Zealand, on 6 November.
It seems hard to believe, but just a little over two years ago an investment in frontier artificial-intelligence play Anthropic was considered a contrarian bet. Today the start-up behind the Claude model is on the cusp of a $US2 trillion ($2.7 trillion) stockmarket listing.
In an episode of The Astute Investor, hosted by long-standing Sohn Hearts & Minds Conference supporter LGT Wealth Management, Martin Randall speaks with Isaac Kim and Michael Romano of Lightspeed Venture Partners about the opportunities, risks and investment implications of AI.
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