Yeah, it does seem promising, but I'm hesitant to dive in alone.

Hey Sven, why are Seth Klarman and Warren Buffet investing in Liberty SiriusXM Series? Could you make a Video about it? Thank you

I think this is a strong buy, because Jim Cramer doesn’t like the stock 😉 and insiders have many shares and last but not least, Klarman is big in.

Hey Sven, I agree with your assessment of difficult macro trends for many of their business lines. You seem to not have a very good understanding of acquisition accounting though. They were forced to capitalize nearly $40 billion of amortized intangibles and content fair value step up. These are one-time related to the combination of Warner and Discovery. These are about $6 billion in amortization expenses for 2023. Over time these assets will be amortized to nothing and their GAAP expenses will continue to fall as a result. One can still look at the company’s struggle businesses and decide not to invest but make sure you are analyzing the true economics of the company and not just the accounting rules.

Interesting analysis Sven Carlin "PhD". FCF is up, operating income loss is less 2023, debt is 100% fixed at 4.6% interest (not sure if that was mentioned in the video), management has shown commitment in repaying debt, hopefully they will continue to do so. IV is still above MC even if you price-in 0% revenue growth, lower than average margins and 8x multiple.

Waiting for update in lithium stocks, specially on ALTM, i think we can take advantage of the cycle, specially with good stable company such as ALTM ( former livent )

I bought a small position. Management is on track with executing on repaying debt and they are focused on cash flows. And not to forget you get a huge amount of content which have the ability to generate cf.

Worth noting that Max is profitable.

Added recently, will keep holding 8 April it will be open for bids. Curious if amazon or apple will make a bid. Reducing debt and amazing IP

The chances are waiting in another direction.....a potential merger of WBD and Paramount would create an Entertainment behemoth, muuuuuch better then this platform here....:))) There are other possibilities to profit from investments in these two companies. My strategy - I buy both of them proportionally. This way, if I consider it as one investment, I probabaly cannot loose money, this is all that counts for me, the potential upside is huge on the other hand.

FCF is great, it's true. quality of this company is high. I wonder if it is possible to calculate owner's profit in such cases, if depreciation is much higher than net profit (loss) + capex? In the end, in view of the theory, from the costs incurred before, it must eventually make a profit

WBD buy back Debt for 5,4 billion USD. Thats Huge. Next year i think they should buy back at least 4 billion. Streaming still gets cash. It will take time to 2025/2026. 2024 if you listen to the last Earnings call thne you know that. But no one wanna wait.

Exactly how deep sven? Dtc was the one Who take less time to be profitable between the streaming services now it does 100 milion and they havent event went in europe, and they wanna do that as soon as possible, the countent is handdown between the tops of the world, (talking about harry potter and stuff, not dc hoping james gun will fix that mess). If you watch that debt schedule and what remains you see they have 3 billion if i remember correctly for the next 2 years. Also they’ll make a new harry potter, already talked to the rowling team. Simply put i have a different opinion on the business, I just suggest listening to the important parte of managment calls.

At&t had no expertise to manage Warner media, so they had to find a buyer for it. The impairments and huge depreciations are a consequence of bad At&t management.

Great perspective! Thank you Sven!

I have opened a very small position and only add more if it goes to 6ish and try to play the volatility. I think the upside is there but also risky. I just cannot see harry potter disappear just like that. :D

The dilemma of sitting on stock when you have the feeling it is not good time for it to grow. Then you sell and it rockets. I wish I can hide this in my portfolio fir a year.

I think that's fair enough, very hard to know how this is going to go. Some good, some bad.

Hi Sven thank you for the analysis, have you looked at VF Corp. Looks more or less in the same condition as WBD, but less debt and smaller market cap.

brilliant research! Thank you Sven

Wow, thank you, Sven! At this rate I will become famous... But I won't let it go to my head! ;p No, seriously, it's really appreciated. You always see things not many others manage to see. I think I won't be adding anymore soon, at least until I see some of the promised improvement as I already have a relatively big position. I can't say I don't love owning some of the company that owns some of my favorite movies, shows and all, but we're here to make money, not for sentimentalism! We'll keep watching!

I would love a video on Howard Hughes Holdings (NYSE: HHH) especially with the planned spin off of Seaport Entertainment at the end of 2024.

Thank you for this valuable content

Hey Sven, thank you for great information! Have you considering revisiting Carnival stock? Cruises seem to becoming more popular again and the stock really recovered since the pandemic.

Well, seeing as how WBD has fallen to $7/share, your choice was correct.

Best in media class is Disney. I'll stick with DIS and a little Paramount for the buy out potential. Media and entertainment are going through a major consolidation right now. They'll be fine, but it could take awhile.

hello Sven,i ve been doing some research on chinese stocks and it seems that alibaba could be a good investment. could you do a video about chinese stocks?

They own Superman. Batman. Harvey Quinn. The Joker. Mortal Kombat. They have many I.P's. I haven't bought stock for a few years, WB is interesting. Great Vid!!!

Hello Sven, thank you very much for all these great analyses and for sharing your research with us! Im watching every video of you and it is great to see, how correct your assumptions are! If you have so time, could you please share your opinion on RWE AG and Esperion Theraoeutics Inc.? Thanks! Keep up the great work!

Free cash flow to equity (as opposed to to the firm) is more like zero, since debt repayments should be subtracted when calculating free cash flow to equity. Definitely not a margin of safety buy at the current price

love your stuff

Warner Bros Gaming division is burning money and consumer retention. WB is going to continue to fall into the red in perpetuity until they regain consumer trusts/retention which will take at least 2 years. The gaming division isn’t volatile it’s being run into the ground.

Hey Sven, whats are your thoughts on Skechers looks pretty cheap to me.

Could you do a video on CK Hutchison Holdings? Would love the hear your thoughts and if it's right for you. :-)

Thanks ❤Sven Good value video herw

Looks like a low risk investment with decent upside IMHO.

Nestle SA ADR is at 52 week low($102). Analyst say that it go further down to $91(84 CHF). What is happening with this stock?

Thank you

Hi Sven I don't know how else I can reach you so writing here. I want to have your opinion about STMicroelectronics. I see it as a great value opportunity. growing net income growing profit margins P/E less than five year average fairly valued (10yr DCF FCF based with 12% discount) But the stock price is below where it was back in 2021. It is down 20% from its previous highs. Is there something crucial I am missing?

Hi Sven,, appricate your genours work which you share with. can you evalute China market as it is rock bottom and many stocks like Nio, JD, Batba etc. thank in advance :)

Seems to me this is a classic turn around play and the management seems to be doing what it needs to do (paying down debt). Problem is, you need innovation to bring in customer and cash, and I'm not sure a few wonderful tv show on Max (last of us, House of the dragon, white lotus, etc.) is nearly enough to counter the decline in network/tv. Long term, I'm sure they will be fine as they are on the right path, but the network business needs to be cut or sold IMO.

been with this stock for a while and in thay time the cash story is never uplifting... too scared to average down

See an existential threat for WB from technology change. When u go for a "trip" to WB i will see a huge complex with all the storage/scenography/etc, and all of this assets are now included in the book value. But the value of this can go to 0 when Sora from OpenAI will rollout some new versions of edutable video creation, than the whole WB moat will dry.

Great video

You have mixed up the FCF yield. It should be FCF to EV not Market cap otherwise we ignore their mountain of debt

No economic mote

😢

You should do this for BABA

I like your analysis, but I doubt your investment performance is good.😅

Cheap means nothing if the business cannot unlock its potential. WBD has horrible capital performance.