So What of ‘Expectations Mismatch’?

November 29, 2023

by Karl Denninger Market-Ticker.org

Note that Disney ($DIS) has posted-up multiple box-office flops in a row, with the latest, Wish, being pretty much indistinguishable from having a zero opening weekend. For Thanksgiving weekend, which is usually a good time to release a movie (especially when nothing else high-ticket is running opposite it) that’s a disaster.

Some of this is being blamed on “woke” elements, but the contribution of that is unclear.

What is clear, however, is that American business political leanings, expressed in their merchandising and public views, are wildly out of whack with the American mainstream.

How?

Part of the problem, I believe, can be traced to how we do stock ownership and voting in America. That is, if you own Disney stock outright (you bought DIS in your portfolio) you vote the shares. But if you own them in an ETF, say by buying the SPY or one of the many others in the marketplace you don’t vote the shares — the fund manager does.