Disney: "As Big as Ever"

Reviewing the thesis following lackluster DTC guidance

On Thursday, The Walt Disney Company reported results for Q2 FY21.

Normally, I start these quarterly discussions by walking through the recent results for the company. But in this case, I honestly think that would be a waste of time; it misses the big picture.

Here’s the reality of the situation: Disney, most notably in its theme parks business and theat…