Ann: 2021 Half Year Results Presentation, page-51

IMO, if there was ever a fault with Fairfax, it was that it was too slow to use its market position to invest in its online portals - for automotive, employment and real estate.

Yes, REA is many times larger than Domain is nevertheless valued at several times the value of Fairfax. I'm just highlighting there is sometimes room for a number #2 player, or a player focused on a specific geographic market. Domain is by no means the only exception there are other examples in Australia (e.g. Allhomes in Canberra, before it was acquired by fairfax, but there are other examples overseas too).

If NZM can't turn OneRoof into an REA Group and make 50 to 100x return, but instead achieves more Domain like success, delivering 5-15x returns... I wouldn't be complaining.


I appreciate the comments on caution - I apply caution and a portfolio approach to all stocks, FDV, NZM, even the so-called 'blue chip' stocks. Anyway, enough with NZM.

I'm very hopeful for FDV, the results in the last two quarters have been excellent, but I'm not betting the house on this or any stock.

What are people here using to monitor traffic at the portals owned by FDV?