Investment Thesis

I was long Disney (DIS) a couple years ago and sold way too early then. At that time, I never thought I would be short Disney. However, given the statistics we are seeing in Europe and the measures taken there, Disney looks extremely exposed if the current trajectory of COVID-19 continues. There are few signs to the contrary.

COVID-19 in Europe

South Korea is the only country with reliable data which has gotten the COVID-19 growth rate under control, from being in the exponential growth stage. I am not counting China because I don't have reliable data and Singapore for example never saw the same growth rate as South Korea. We are now seeing similar growth rates in Western Europe as we saw in South Korea.

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