Re: At Party: January 2005 sign-ups, less than 30% still play there(+
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If this article is any indication, the growth-rate obsessives still dominate the landscape of investing.
Party probably deserves this. Without knowing the answer, I'd expect that the Party IPO hyped up the "rapid growth" angle, thus ensuring that any slip in such a growth rate would result in bearishness and articles such as this.
If I were Party, my float would have been based on this premise: "Whether the online poker market grows or shrinks, we intend to be the dominant force in the industry. Our costs are low and margins/profit astoundingly high. Will will pay dividends to our ownership (i.e. the stockholders) so that you share in our success as well as our small risks."
Of course, this explains why I enjoyed my 12 to 15% Canroy dividends back in 2003 and 2004.
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Good post, you are almost certainly bang on.
Mack
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