APT - can the run last? young kids love it, page-398

Respect your method- although I don't try to DCF because I find the results try to give too much precision to assumptions that are impossible to predict. I think DCF type analyses are consistently misapplied to companies that don't have regular/predictable cashflows...even for those bar maybe utilities, the dividend discount model is much easier to apply and gives very good ballpark figures. There is nothing wrong with waiting on the sidelines....I waited patiently on my largest investment, Xero, for more than 2 years. I probably would not be here at these sorts of valuations if I hadn't ended up here serendipitously via the backdoor through Touchcorp, which forced me to do much deeper DD than I would normally do on a company like Afterpay. There is no way Afterpay would have struck me as an obviously good investment given my investment style if I hadn't come through this circuitous route (if you flick through my posting history you can see the sort of deep value type situations I normally try to invest in).


I think I will switch off for now, unless price drops substantially and maybe re-visit it in May when the US update comes and/or the next quarterly update. Certainly takes more intellectual effort investing in fast-moving businesses!