When angular momentum is conserved, does it mean that it does not matter what the reference point is at? Say for example with this image below, the observer stands at two possible points P1 and P2. Since L = m(r x v), In the case where there is P1's observation point, there is a smaller r, but larger v magnitude, and in P2 observation point, it is a large r, but seemingly smaller v magnitude?
A generalisation of the question would then be: does the point of reference make a difference for the calculation of angular momentum?