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Netflix News So Absurd I Couldn't Make It Up

But don't do the prudent thing.

Don't take profits. Put on a blindfold. Put your faith in Reed Hastings. And let it ride.

Be like those poor Enron employees (and I mean that sincerely because those folks got screwed) who kept their 401Ks in their company stock till the bitter end. That was my intention when I used Enron and Netflix in the same sentence. To make that point. I thought it was clear. You're a smart reader. One that doesn't require spoon feeding, but I guess a relative sliver of a handful do.

And if you think the company is something more than a house of cards (pun very cheesily intended), you clearly have not been paying attention.

Netflix is a cartoon. And a majority of the media -- financial scribes and talking heads in particular -- have a penchant for getting hit on the head with the anvil and coming back for more.

Here's the type of drivel that drives NFLX higher. That's why calling the stock a buy is like shooting fish in a barrel. The market's irrational ways can often be the trader or investor's best friend. You just can't get sucked in by the hype that drives this puppy higher.

Like this ...

You know Bloomberg right? The company with those Peeping Tom terminals? Anyhow, this snippet was passed off as "research" by Bloomberg yesterday. Here we go. It's a crazy one (Bloomberg content is indented and in italics, my interjections come in between and after):
Netflix Rises as Much as 3.1% After BTIG Survey
2013-05-15 13:34:13.486 GMT
By Clyde Eltzroth
May 15 (Bloomberg) -- Survey of more than 400 people at 2 Bluth Banana Stand locations in NYC provides evidence Netflix is rebuilding consumer confidence, BTIG analyst Richard Greenfield said in note.

OK. Right off the bat we know we're in for some crappy research when BTIG and Richard Greenfield are mentioned. Search my name alongside his and Pandora (P) to get a feel for the type of "work" he produces.
* 368 of 427 people interviewed were Netflix subscribers
Greenfield said "Arrested Development" is ''clearly increasing'' subscriber happiness, should help to reduce churn

It's one thing to say "buy the stock, it's going up." Even a guy who can't get behind the company (me) has enough sense to say "buy the stock" at least for a little while. But it's entirely another to relay a sixth grade social science project as research. Unless, of course, you think you're speaking to complete fools.
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