Alex Morris provides 2023 overview on Cable and what makes Media so attractive

Alex Morris, Founder of TSOH Investment Research, returns to Yet Another Value Podcast for the third time to chat with Andrew about the Media and Cable sectors in 2023. The Media and Cable sectors move at a mile a minute and it was time to have Alex back on to sift through all the noise. This conversation covers everything from: how mobile carriers think about fixed wireless, Charter vs. Cable One & T-Mobile, does Disney have an IP problem, and much more. For more information about Alex Morris and subscribe to his research service, TSOH Investment Research Service, please visit: https://thescienceofhitting.com/ You can Follow Alex Morris on Twitter @TSOH_Investing: https://twitter.com/TSOH_Investing Chapters: [0:00] Introduction + Daloopa [2:22] Media and Cable space - high level thoughts on 2022/beginning of 2023 [4:30] Rewinding to better understand current media/cable infrastructure and how Alex thinks about fixed wireless [8:57] How mobile carriers talking about fixed wireless [12:08] Why Alex has Charter and Comcast in his portfolio? [14:43] How does Alex think about Comcast being potentially being valued with conglomerate discount? [19:05] Charter vs. Cable One and Charter vs. T-Mobile [23:11] A bit more on T-Mobile [27:54] Why Alex thinks you can achieve risk-adjusted alpha investing in Charter? [31:53] Understanding Charter's CAPEX story [33:45] Cable assets, Fiber assets + M&A [37:09] Final thoughts on Cable/Fiber conversation [40:06] What Alex is seeing in the Media business that is so attractive [43:53] Does Disney have an IP problem? [48:28] Taking a look at the state of Netflix - do they need a merger partner or to buy something? [51:37] Making the case that Netflix is a risk-adjusted alpha generator [54:32] Final thoughts This podcast is brought to you by Daloopa. Daloopa was founded by a former hedge fund analyst. He didn’t have a tool that he trusted to be 99.9% accurate that allowed him to pull updates directly into his existing models, and had the granularity in KPIs, Guidance, and non-GAAP adjustments that he needed. So, he built Daloopa. Daloopa is the fastest growing source for public company data, with data available for over 3,000 companies. Hundreds of AI algorithms collect and organize customized company historicals with an accuracy level and depth of data that is higher than anything achievable by other modeling tools. Each datapoint is auditable to the source. Daloopa’s Excel plugin is the first to allow you to update your models in your existing format. It’s simple and non-invasive—Daloopa will never #REF out your models. Daloopa clients are able to cover more opportunities and generate more ideas. No more data errors, no more Excel monkeying, just the fundamentals. See why equity investors are switching to Daloopa by checking them out at Daloopa.com/YAVP.