Thoughts on 1862
Mon Dec 30 21:45:28 2019
We've played a lot of 1830, and some 1846. While those games have some differences, they basically play the same.
We recently picked up 1862 and it plays a lot differently.
Specifically, the way companies count their revenue from train runs is completely different. In 1830 trains each count their runs separately, and you can't reuse track at all. In 1862, you can reuse track with different trains, but you can only score each station, port, or off-board area once for your whole company, and each of your runs has to link up into a connected network.
This means that with multiple trains, you will necessarily be hitting a large station more than once, but you can only count it once. Rather than thinking of it as scoring trains, it makes more sense to think of it as building a network with your trains, and then counting where you hit with your network.
To evaluate a train then, don't think about how the train can run, but rather how it can extend your network. Long runs of track are rewarded if you have multiple trains, and maximizing the advantages of each type of train in a multiple permit company will lead to higher runs.
Merger Cost
Other than a few edge cases, you will always lose value on a merger. For "normal" mergers, the loss in value will be about one-third.
Take a merger of two companies, where you own 5 shares of one valued at 82 and 7 shares of another valued at 110. In this case you lose 342 in share value, a 31% loss. It may be that 60% of the combined revenue is worth more, and it will be easier to multiple jump to regain the share value, but you still have a 342 loss to overcome. It may have been better to sell a higher valued share and buy two lower valued shares.
If you did that, and then immediately merged at the beginning of the next stock round, you'd pay a net of 54, and then merge 7 shares at 82 with 6 shares at 105, which would entail a loss of 308. Plus the 54 paid out, is a loss of 362, or $20 more than the previous case. You'd also have to shell out $64 to redeem an option share, for a final loss in value of $426.
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