"I'm long right now on CBS, even [with] the craziness that's happening with that." The "craziness" he's referring to is the network's potential merger with former parent company, Viacom. The deal has been muddled by media mogul Sumner Redstone's attempts to oust Viacom directors in a fight for control over the $40 billion Viacom media empire. He owns 80 percent of the voting shares of Viacom as well as CBS.
However, Brunetti was more optimistic about fixing Yahoo, which has struggled to stay relevant against competitors like Facebook and Google. He suggested the company just needs to "blaze new paths."
The suggested fix was timely. On Monday, following the company's second-quarter earnings release, Yahoo's CEO Marissa Mayer thanked the "resilient" team at Yahoo for laying the groundwork for the company's next chapter — which could make this quarter its last as a publicly traded independent company.
Yahoo is said to be in the final stages of reviewing bids for the sale of its core business, which reportedly could see suitors like Verizon.
The company posted second-quarter earnings per share of 9 cents on revenue of $1.31 billion, compared to 16 cents a share on revenue of $1.24 billion in the year-earlier period.
Given the "ups and downs" Yahoo has experienced, Brunetti said he believed it would make for an interesting plot line for a film. Tesla, the electric-car company, was also on Brunetti's list for movie ideas, and he said he's actually tried to pitch Tesla's CEO Elon Musk on a Tesla movie, to which Musk declined.
As for companies Brunetti said he's short on, ironically, Netflix was his first choice.
Brunetti said he believes the market for streaming platforms "is really going to get crowded." While he still thinks there is "some room to make some money ... [Netflix] is getting a bit overvalued. And I'm also talking about people that I work with, so I got to be careful."