New Posts For Thread: It's official - liquidity is falling...https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-fallingSo the Betfair figures in today's Racing Post confirm what pre race and in running horse racing punters have suspected for some time but had little hard evidence to be sure of; UK horse racing matched turnover IS in relatively sharp decline, althoughNever totally trust a person who prefaces statements with " I know more than most---- ".Btw having been a dotcom bubble venture capitalist is probably nothing to screamm too loudly from the rooftops about. Unless you are currently a billionaire of cohttps://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471234877#471234877Never totally trust a person who prefaces statements with " I know more than most---- ".Btw having been a dotcom bubble venture capitalist is probably nothing to screamm too loudly from the rooftops about. Unless you are currently a billionaire of coFri, 22 Oct 2010 15:55:51 -0500So if they don't get the expansion into the US or other large markets that they're hoping for then what?https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471233609#471233609So if they don't get the expansion into the US or other large markets that they're hoping for then what?Fri, 22 Oct 2010 15:44:28 -0500pxbi agree with your view that the value of a company is best demonstrated through a DCF of expected future earnings. Remmber that BF is now 10 years young - not a start-up - and there comes a point when you ask if their is enough "form" to go on. 10https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471231857#471231857pxbi agree with your view that the value of a company is best demonstrated through a DCF of expected future earnings. Remmber that BF is now 10 years young - not a start-up - and there comes a point when you ask if their is enough "form" to go on. 10Fri, 22 Oct 2010 15:29:31 -0500I moved in Venture Capital circles during the dotcom bubble. I know more than most about how companies are dressed up to look good for their IPO.https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471231641#471231641I moved in Venture Capital circles during the dotcom bubble. I know more than most about how companies are dressed up to look good for their IPO.Fri, 22 Oct 2010 15:27:31 -0500Thank you Professor pxb.I'm sure Goldman Sachs could learn a lot from you in pricing up this issue.Just being cheeky. Don't take offence please.https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471229985#471229985Thank you Professor pxb.I'm sure Goldman Sachs could learn a lot from you in pricing up this issue.Just being cheeky. Don't take offence please.Fri, 22 Oct 2010 15:15:11 -0500The price of a stock is determined by (projected) discounted future earnings.For a technology company, current profit is largely meaningless, because it is too influenced by current investment.And as I pointed out early, revenue growth from diversifihttps://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471227869#471227869The price of a stock is determined by (projected) discounted future earnings.For a technology company, current profit is largely meaningless, because it is too influenced by current investment.And as I pointed out early, revenue growth from diversifiFri, 22 Oct 2010 14:57:31 -0500I cannot see where the growth areas are.To justify its p/e, either bf has to cannibalise the client base of its bm rivals by consistently being best price (which it isn't) or move into new territories esp. the US and East Asia.It cd easily clean up ihttps://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471217865#471217865I cannot see where the growth areas are.To justify its p/e, either bf has to cannibalise the client base of its bm rivals by consistently being best price (which it isn't) or move into new territories esp. the US and East Asia.It cd easily clean up iFri, 22 Oct 2010 13:36:32 -0500Having said that the float will probably be enormously successful for the underwriters and the front line investors, and everybody else will lose their shirts in due course.Same old.https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471210921#471210921Having said that the float will probably be enormously successful for the underwriters and the front line investors, and everybody else will lose their shirts in due course.Same old.Fri, 22 Oct 2010 12:40:10 -0500SandownNow you're sounding like a sensible, old fashioned investor. Looking for " real " earnings.Not the done thing these days apparently.https://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471210129#471210129SandownNow you're sounding like a sensible, old fashioned investor. Looking for " real " earnings.Not the done thing these days apparently.Fri, 22 Oct 2010 12:33:12 -0500ex Australia and new prodshttps://community.betfair.com/general_betting/go/thread/view/94082/26101925/its-official---liquidity-is-falling?post_id=471183273#471183273ex Australia and new prodsFri, 22 Oct 2010 08:38:53 -0500