- Hedge fund manager Dan Sundheim says he's "quite bullish" on online used cars and he owns Carvana (NYSE:CVNA).
- D1 Capital's Dan Sundheim spoke at the virtual Sohn Investment Conference.
- Sundheim said D1 has investments in Europe and Latin America in the online used car space.
- "Simple analysis this is a way better consumer experience than going to a lot and negotiating with a used car salesman," Sundheim said at the charity conference. "It's a better value proposition and there's massive economies of scale."
- He added that he expects in 15 years there's the potential for about 30% of used car sales will be done online.
- "They own 65% of that market and the stocks is many multiples of where it is now," Sundheim said. "We see that playing out in every geography around the world."
- Separately, Sundheim also talked about Netflix (NASDAQ:NFLX) and said the company has a moat that can't be penetrated.
- "The moat that Netflix has I say is being non penetrable because the amount they are spending on content and the reach they have ..." Sundheim said.
- He added that he believes "the world in 10 years is going to be entirely streaming and I don't think there's going to be any linear cable."
- Recall May 3, Carvana rallies after Bank of America points to long-term growth story.