INDUSTRY RESOURCES - VALUE INVESTING LETTER LIBRARY
Why We’re Short Netflix
T2 Partners LLC • December 16, 2010
We’ve lost a lot of money betting against Netflix, which is currently our largest bearish bet, in the form of both a short and put position. In this letter, we share our investment thesis in depth and describe why, at a stock price of $178.50 and a market cap of $9.3 billion (based on yesterday’s close), we think it’s an exceptional short idea.