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In March $FOX sold their 5% stake in $ROKU at $58/share (6m shares). Today Roku is trading at $356. $FOX lost $1.8B on this trade so far.
As 2020 draws to a close, an observation: When paying 10, 20, 30 times revenues for an established, publicly traded company, you should be thinking, “I’m going to make a modest return as the fundamentals grow into the valuation,” OR, “I’m going to spectacularly blow myself up.”
2016: by 2020 Tesla will be building 800k-1m units/year
2018: by 2020 Tesla will be building 500k-1m units/year
2020: if we go all out, Tesla might be able to make 500k units this year