What Hamilton Can Teach Us About Investing…

Much like every household this past weekend, we gathered round to watch the much anticipated release of ‘Hamilton’.  And all I will say is that it is phenomenal, and Kristin and I couldn’t stop signing along to the songs that were trapped in our head.  So there is my review, for what it’s worth.  I hope you enjoy it!

However, that is not why I wanted to write this note.  Instead, it was what Hamilton represented – the dynamism with which businesses and the world are changing.

Just a few examples:

– Hamilton was not set to debut until October 15, 2021, then Disney moved it up 15 months, and abandoned a theatrical release, opting instead for direct to consumer.

– Broadway will be closed until January 3, 2021

– Movie Theaters teetering on the edge of bankruptcy

Now I don’t think anyone, including Billy Joel, who famously sang ‘Seen the lights go out on Broadway…’ thought that it would be almost a year before they potentially came back on?!  But that is the reality of things and without a vaccine, I fear it may be longer.

This has led me to the following questions:

Will we see more films venture the direct to consumer route?

Will more popular Broadway shows go the film route as well?

The reality is, some companies are hurting more than others.  Some are able to make moves like this to help draw revenue up in their fiscal planning, whereas others we have seen resort to additional equity issuance, instead of the debt markets.  What this all leads to is this – the coming months should be very interesting if Congress does not issue another relief bill.

So now is a good time to think about your experiences these past 5 to 6 months, and think about how your routines have changed.  Who has made it easier to do business with?

By engaging in this self reflection, you may just uncover the next investment opportunity.

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