Q: Hi -

It's usually enough to read the answers to other questions, but thought I would finally ask one. I am down on the three companies above. I am relatively new to investing and started in 2021 at all time highs. Being new to the stock market, it was interesting to watch some of my shares go down but for most part I am confident they are good long term and it is much more fun watching them go back up! I'm about 10 years away from retirement and for the most part plan to hold long term. Would you consider any of these a sell (PARA?), and add any of the following today...AVGO, HD, SBUX, AAPL. What would a few of your highest conviction US companies (any sector) be if not adding to those mentioned (already own MSFT, GOOGL,V). If considered a hold, I do have some cash to add or start a new position. I've been watching CROX, but just not purchased yet.

Thank you! Always enjoy reading the questions and monthly report updates.

Q: Does the present proxy fight at Disney pose any risk to the valuation of the company? How do you see it playing out at the AGM?

Q: Could you please tell me if I am interpreting this correctly. Disney said it expects Disney+ net adds of between 5.5 million and 6 million in Q2. But per their earnings call, “domestic net adds are expected to be in the 7.5 million range, driven by charter entitlements, net of cannibalization”. Does that mean they are gaining 7.5 million charter subs but losing 1.5 million paying subs to hit the 6 million? From what I understand the charter subs are getting Disney+ for free, and Disney is getting free advertising in exchange. So ARPU might go up due to price increases, but won’t overall revenue go down as fewer paying subs? Or do you think Disney will estimate the benefit of the free advertising, and then charge that amount to advertising and give the credit to Disney+ revenue? Thanks for you help.