Not to say his future reurns will emulate his recent luck with rbl but Baker has been selling since the 70’s while mua his main tech play has lost 60% of its value.
Having said that I’d be interested in people’s thoughts on the rbl valuation. (@WHY@mal85@eternalgrowth)
It still has some nice tailwinds, likely aud failing, moving to cash flow positive, index inclusion etc, but we have run from 60cents up to >180.
I think of rbl more in terms of gross profit after paid acquisition growth rather than revenue given the high cogs.
Gpapa was 25.7mil growing at 18% cc at the half.
Last full year it was 37.9mil growing at 30% constant currency.
So despite growth falling a bit, the share price has exploded.
I’ve also noted google trends redbubble activity has tailed off slightly. I’m very reluctant to crystallise a gain here as it is giving me some much needed global tech exposure to my portfolio (and of course tax implications) but I’m just getting a nagging feeling that the valuation has gotten away from itself.
RBL Price at posting:
$1.86 Sentiment: Hold Disclosure: Held
