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Netflix’s New Math & A Wall Street Travesty

With markets off their euphoric highs, the conventional wisdom appears to have changed overnight for Netflix, Zaslav, and the bond desk at Goldman Sachs. Does it change the risk calculus for Shari, too?

Reed Hastings and Ted Sarandos
Photo: Stephane Cardinale/Corbis
William D. Cohan
March 20, 2022

I was asked the other day where I see markets headed, with a war in Europe and a global oil shock compounding what was already a gnarly tangle of Covid-era supply chain disruptions. The Federal Reserve, after a decade of spiking the monetary punchbowl, is finally beginning to raise rates. As America’s financial bubble hangover begins, this person asked me, where does the smart money go?