(OK, we haven’t done a comprehensive study, but it certainly feels that way.)
Over the past three months, the S&P 500 is down 20%. Netflix is up 50% (NFLX). It was even up today.
We do have our concerns long-term: In a few years, the DVD business will likely be in full transition to downloading and streaming, and we’re not yet persuaded that Netflix will be able to maintain the same margin structure in that business.
But, for now, in an economy and market headed to hell in a handbasket, the company’s a breath of fresh air.
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