TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

I have over 20 years’ experience investing in the TMT and Consumer sectors, almost entirely on the buyside. Started at Bernstein covering software in 2001, moved to the buyside at Government of Singapore Investment Corporation (GIC) in 2003, covering hardware, software, and media. 

After getting an MBA at NYU in 2008 and a CFA, I spent 8 years at Coburn Ventures (a market neutral TMT/Consumer hedge fund). In 2015, I joined Deimos Asset Management, a low net multi-strat, where I managed a  TMT/Consumer portfolio.

I've spent the past few years at Obex Capital Management providing independent investment research to TMT and Consumer investors.

TMT & Consumer Independent Equity Research Analyst

Loeb Backed Down Quickly…But Is Disney Really in Good Shape?

Disney 4Q2022: Cord Cutting Exacerbating DTC Losses

Disney 3Q21: We’re Cautious on Streaming

Disney 1Q2022: Knockin It Out of the Park

Disney: Streaming Trapped Between a Rock and Hard Place

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

<ul>
<li>Indian Premiere League cricket auction has brought in $6.6B thus far, up 3x from the 2018-2022 package, though the per game increase is closer to 2.3x.</li>
<li>Disney was smart to relinquish the digital rights, saving itself $3.6B in cash (~$2/share) rather than spending to drive worthless Hotstar+ subs (~$0.26/share).</li>
<li>Google may open up YouTube advertising to 3rd party platforms to settle EU antitrust...a potential boon for The Trade Desk.</li>
</ul>


Indian Premiere League cricket auction has brought in $6.6B thus far, up 3x from the 2018-2022 package, though the per game increase is closer to 2.3x.
Disney was smart to relinquish the digital rights, saving itself $3.6B in cash (~$2/share) rather than spending to drive worthless Hotstar+ subs (~$0.26/share).
Google may open up YouTube advertising to 3rd party platforms to settle EU antitrust...a potential boon for The Trade Desk.


TMT Quick Hits: DIS/Cricket Rights, GOOGL/TTD/EU

The Walt Disney Co

TMT Quick Hits: DIS/Cricket Rights, GOOGL/TTD/EU