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2013… what a year!

2013… what a year!

As we draw the curtains on 2013, we thought it would be interesting to look back at the three most popular stories from the year. They are…

3. Dear Property Investor – Your Best Warning!
The Australian residential property market has had a spring in its step recently. Auction clearance rates have been healthy, and rising prices have prompted media commentary on the possibility of an emerging housing “bubble”.

I’m no property expert, and so it may be wise to avoid putting an oar in on this debate, but let’s put wisdom aside for a moment and think about whether the application of value investing principles can add anything to a discussion on house prices.  –Click here to continue reading

2. Threats to Cochlear’s Market Position?
Many readers will have noticed the dramatic fall in the price of Cochlear (COH) shares from above $80 per share at the start of February to below $60 recently. COH is an Australian-based world beater in cochlear implants (note that “cochlear” is both the name of the company (COH) and the part of the inner ear into which cochlear implants are implanted, whether they are supplied by COH or a competitor). At Montgomery, we are big fans of COH, and in the past it has been a significant holding of the Montgomery [Private] Fund. With the recent decline in share price we have again been taking interest in the business.  –Click here to continue reading

1. Dear Under-50 Investor
Dear Under-50 Investor,

Superannuation will be no good for you if you are under 50 today, so invest the absolute minimum amount into super.

That means, no salary sacrificing, no co-contributions, no non-concessional contributions. Ignore the calls to save tax and boost your super you will be soon contributing 12% of your salary anyway. This is not advice but a challenge to others, much more qualified than I, to dispute it and explain why I am totally wrong. By the way, as a fund manager of course, I am financially delighted to be completely wrong on this one! –Click here to continue reading


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.

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