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A Spotify Bull and Nintendo Bear Shares His Latest Market Thoughts | Simeon McMillan
Simeon McMillan of Accrued Interest joins the podcast, and we start where the headlines are, with Wells Fargo's downgrade of Netflix on weak engagement. Simeon makes the contrarian case that engagement is the wrong metric and that Netflix is a misunderstood value stock, where low churn, international growth, advertising, and steady margin expansion set up 20% earnings growth even without breakout hits. He then lays out his higher-conviction pick, Spotify, as a quiet compounder riding renegotiated label deals, audiobooks, and untapped pricing power.
From there we get into his bearish and…
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