(like how AM IPO holders have an enormous advantage due to 35x rise in share price making a larger barrier to entry for new investors on an absolute basis)
This statement is just another way to say "AM is a bubble and the shares aren't worth what they go for". That this realization is slowly percolating even through the investors that'd be
much better served thus should be perhaps a little worrying
You ought to create a new thread and back up that story.
The reality is:
Friedcat offered a fair deal in his IPO, worked extremely hard, and through a combination of good fortune, incompetence on the part of his competition, and shrewd decision making has increased the valuation of his company.
Just mining income alone supports a 35% yield at current prices. That's not a bubble.
Will he hold his market share in the long term? That is hard to say. But I'd give it better odds than seeing any of the Keystone cops competing with him take the lead.
And just to be on topic:
Dooglus good luck to you with this venture! I hope it works out, and I think 1% is far to low a commission for operation costs.