ABE 0.00% 2.5¢ australian bond exchange holdings limited

Valuation, page-4

  1. 23 Posts.
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    I'm hearing the company is really misunderstood by the local investment community (read Analysts). I have a suspicion the company uses ~50% of its revenues to incentivize users to onboard (as the exchange/main broker they should be GETTING brokerage fees, not paying them). If I am right, these fees will drop to a minimum once traction is gained and the network effect established, and meanwhile, there are revenue-linked marketing costs - perhaps the smartest capital allocation action a CEO can make. Looking forward to holding this one for at least a decade.
 
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