Wall Street should leave the filmmaking to Pixar
I don’t know much about Wall Street, but it’s good to know Wall Street knows even less about Hollywood. Richard Greenfield of Pali Research says he was “dead wrong” when it came to predicting the box office prospects of Disney-Pixar’s hugely successfully Up.
Greenfield’s comments from the NY Times:
The recent success of Pixar’s ‘Up’ (well ahead of our forecasts) has renewed investor confidence in Disney’s creative capabilities.
The comment about “Disney’s creative capabilities” proves he still doesn’t get it. But in this brave new world of movie making, who really knows the whole equation anyway. Well, other than Pixar.
You think people would have stopped second-guessing Pixar when their team turned a story about a rat into the studio’s third highest-grossing film worldwide. I’m more concerned about Toy Story 3 than I ever was about Up. It’s a film no one wanted to make except the creatively challenged Disney, which is the kind of avaricious product-making that Wall Street can understand.
By the way, Richard Greenfield still says “sell” your Disney stock.
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