Unlike most companies, Netflix Inc. (NFLX) can perform well during both periods of economic growth and recessions, well-known investor Stephen Weiss said on CNBC yesterday.
Netflix Inc. (NFLX) is Weiss’ largest position, but he reported that he would trim it “at some point.”
A frequent guest on CNBC, Weiss is the Chief Investment Officer and Managing Partner of Short Hills Capital Partners.
“A Unique..Safe Harbor”
In addition to its “unique” ability to perform well during both recessions and periods of economic growth, NFLX “has been a safe harbor in the storm we’ve seen in the equity markets,” Weiss said. Netflix Inc. (NFLX) “has moved up even as other tech stocks were dropping,” he pointed out.
Further, the company is a pure play on streaming, he noted.
Why Weiss Is Looking to Trim His NFLX Holdings
The investor wants to sell some of his NFLX shares because his position in it has gotten “so big,” he said.
Weiss added that, although NFLX isn’t “terribly expensive,” it’s “not cheap either.”
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This article is originally published at Insider Monkey.
