New investment opportunities
In this special double edition white paper, exclusively for RogerMontgomery.com subscribers, we analyse:
• The key things to consider before investing in an Initial Public Offering (IPO)
• New investment opportunities posed by an ageing population
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Daniel Rosenthal
:
Any thoughts on the Dick Smith prospectus Roger?
Roger Montgomery
:
Under review Daniel.
Daniel Rosenthal
:
I think the numbers on DS look compelling I worry about Anchorage flogging their remaining holdings though…I guess you can’t blame them seeing how they picked it up at fire sale.
Apparently private equity are rushing to the doors on Lifehealthcare as well…Do these guys know something we don’t?
If you could post on these issues it would be greatly appreciated.
Thanking you in anticipation,
Daniel
Roger Montgomery
:
We think Lifehealthcare looks terrific and have taken stock in the float. Seek you own personal and professional advice.
Danny McMahon
:
Hi Roger,
Appreciate your thoughts on OTH, had a look into it and operating cashflow looked pretty good as far as I could tell and lower interest rates should be a tailwind, but the share price has copped it lately?
Roger Montgomery
:
The outlook for this company is binary. It will either be worth a great deal or it will be worth zero. Not really any in-between.
Steve Smara
:
How do I obtain prospectuse for Veda, thru the ASX?
Roger Montgomery
:
Hi Steve,
You need to be a client of the underwriting brokers.
Gordon Petersen
:
Although Telstra are paying a good dividend, with an aging population, maybe we should be shifting our money away from Telstra as the older generation like myself, and put my money into Westfarmers or Woolworths as I do need to eat, or maybe Ramsay Health or Generation Health Care as I can see an aging generation needing these services, more than we need Telstra.
I AM 71 years I have a Telstra mobile phone/ Big Pond Internet, but this year I have not given up eating, but my big expense was medical.
Regards,
Gordon
Roger Montgomery
:
Thank you for sharing your perspective Gordon. The key is to know how many more are in your position or entering the phase of life that sees these expenses rise as a proportion of total spending.
Ian Johnson
:
At the start of a new “investment opportunity”, the promoters have the experience and the investors have the money. At the end of the venture it is the other way around.
Roger Montgomery
:
Thanks Ian. Too True
Jason Horne
:
Hi Roger,
Would there be a website that comprehensively lists upcoming IPO’s? The ASX website doesn’t to contain a complete list. For example, Veda and Lifehealthcare are not listed.
Darryl
:
Roger ,on 5-11-13 you posted an article on food crisis and quoted the percentage of returns by producers compared to large retailers,Woolworth .
I sold cattle twenty years ago at Toowoomba sale yards over he scales ,for a dollar eighty cents per kg .Today they are still only getting the same price ,give or take a few cents more,Inflation over that period would be at least forty or sixty percent.Why are they going broke or should i ask why are they still farming .
Roger Montgomery
:
Thats shocking Darryl.
Greg McLennan
:
I was talking to a farmer friend about that very same thing just a fortnight ago, Darryl. His comment was, well you don’t go into farming to make money.
Roger Montgomery
:
Indeed. Looking forward to catching up in NE Vic.
michael white
:
Thankyou Roger for your honest and professional assessment. As a pharmacist I am excited by your choice in Lifehealthcare. Is there an email address I can shoot you questions from time to time.
Michael white
Roger Montgomery
:
try firstname@firstnamesecondname.com
michael white
:
To Roger,
Are there any ipos we will be participating in so I can keep an eye on.
Roger Montgomery
:
Yes there are. But we can’t talk here about which floats are good or bad nor which IPO’s we have participated in. What we can say however is that having looked at many many prospectuses we think Veda and Lifehealthcare have been the more, if not the most, impressive businesses.