Hi Nyamen, I agree that GAW is expensive, but I think justifiably so. It is also worth noting that analyst forecasts for next year are showing a dip in profit. This seems to be a recurring phenomenon with an apparently ever present expectation that growth will stall next year and yet invariably GAW's profits keep rising. I'm not saying I would be a buyer at today's price, but I feel comfortable holding.
Regarding your question about 40k, I suppose I take issue with the premise in that I don't see that fashion has much to do with it. In fact, I can't think of much that is less fashionable than Warhammer.
You are right that 40k could become less popular though, and my view is that for that to happen it would require an own goal by the company ie by undermining its own IP with changes or updates that make the game or figures less attractive to its passionate customers.
Having said that, while writing this, I have realised that I don't have a firm enough grasp on what specifically draws people to Warhammer and keeps them engaged so I have some work to do. Thanks for the question.
Thanks for sharing... Very useful. I'm a holder of 4imprint, Trustpilot and Likewise. All of which I feel reasonably happy about.
Thanks Jeremy, I must admit I find it reassuring that there is some overlap in our portfolios given your level of experience.
Thank you for sharing your analysis as always very informative. I have have likewise on my radar
I added 4imprint on the recent dip- valuation looked sensible for once.
I can’t get behind GAW- it’s just too expensive. What happens if 40k ever falls out of fashion?
Hi Nyamen, I agree that GAW is expensive, but I think justifiably so. It is also worth noting that analyst forecasts for next year are showing a dip in profit. This seems to be a recurring phenomenon with an apparently ever present expectation that growth will stall next year and yet invariably GAW's profits keep rising. I'm not saying I would be a buyer at today's price, but I feel comfortable holding.
Regarding your question about 40k, I suppose I take issue with the premise in that I don't see that fashion has much to do with it. In fact, I can't think of much that is less fashionable than Warhammer.
You are right that 40k could become less popular though, and my view is that for that to happen it would require an own goal by the company ie by undermining its own IP with changes or updates that make the game or figures less attractive to its passionate customers.
Having said that, while writing this, I have realised that I don't have a firm enough grasp on what specifically draws people to Warhammer and keeps them engaged so I have some work to do. Thanks for the question.