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Carl Icahn Discusses Netflix
Posted by: Dheeraj Grover (IP Logged)
Date: January 25, 2013 11:20AM
Well-known activist investor and billionaire Carl Icahn of Icahn enterprises was on CNBC to discuss his views on Netflix (NFLX) and CVR Energy (CVI) and why he invested in those business which have turned out to be hugely winning bets.
-- Everybody disliking Netflix was the key.
-- Always liked Netflix and thinks this is a great play on a secular change going on in the media business.
-- Never had doubts about Netflix but what he liked about it is that everyone hated it. When everyone hates something you should out and buy it.
-- Netflix CEO is doing a great job, they are pouring in $2.5 billion into getting new content every year. People say Amazon is also getting into it, but they are not spending $2.5 billion to buy new content
-- He does think that NFLX has lot of potential going forward.
-- NFLX is going to be a good fit in one of the big media empires, but he is not going to push for it.
-- Similar was the case in our investments in CVR, the refiner, made about $2 billion on that investment.
-- Investment in CVR was a secular play as well. There is tremendous amount of light oil being produced in the country and you need pipelines to push that oil from the coast. It was plain simple if someone had taken time to study it.
-- Naysayers were overly pessimistic about it.
Credit and source: www.bloomberg.com, Bloomberg TV
Here is the video:
Carl Icahn Discusses Netflix
Posted by: kfh227 (IP Logged)
Date: January 27, 2013 10:47PM
Wow, good for Icahn.
I took a look at the numbers on NFLX when it tanked but didn't think it was cheap.
I guess I just don't get it. Money not wagered is not lost I guess.
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