Monthly Archives: October 2013

  • Snail mail slowing to a halt?

    David Buckland
    October 28, 2013

    The New Zealand Government will allow NZ Post to deliver letters only three days a week amid a decline in “snail mail” volumes. Continue…

    by David Buckland Posted in Insightful Insights.

  • Australia, the southern province of…

    Roger Montgomery
    October 28, 2013

    In this interview with John Morrison on ABC radio’s Statewide Drive, Roger explains why he thinks Australia should stop selling its agricultural land to foreign investors. Listen here.

    by Roger Montgomery Posted in Radio.

  • Monadelphous: leader of the pack?

    Roger Montgomery
    October 28, 2013

    Sometimes it’s easy to identify the source of competitive advantage that drives the performance of a great business. For example, it may be intellectual property supported by large R&D investments in the case of companies like Resmed or Cochlear; it may be network effects and a dominant market position in the case of businesses like REA Group or Carsales; or it may be ownership of long life, very low cost resources for a mining company. Continue…

    by Roger Montgomery Posted in Companies, Energy / Resources.

  • Go Australia!

    Tim Kelley
    October 26, 2013

    Interesting in last weekend’s AFR to read about the soon-to-be released book The Worlds’ 99 Greatest Investors written by hedge fund analyst Magnus Angenfelt. Continue…

    by Tim Kelley Posted in Montgomery News and Updates.

  • A dog’s breakfast

    Roger Montgomery
    October 25, 2013

    I had the privilege this week of joining a prominent group of experts at a breakfast to discuss director obligations within the context of continuous disclosure. Continue…

    by Roger Montgomery Posted in Insightful Insights.

  • Demerging to build value?

    Ben MacNevin
    October 24, 2013

    Brambles, the world’s largest pallet provider, has proposed to demerge its Recall business, which specialises in document management. The company has recently held its Annual General Meeting (AGM), and the board had much to say about the value that would be created for shareholders from the transaction.

    Question: is this concept of value creation different to how we consider it at Montgomery Investment Management? Continue…

    by Ben MacNevin Posted in Companies, Insightful Insights.

  • AGI (Ainsworth Game Technology) Update

    Russell Muldoon
    October 23, 2013

    When we last provided an update on AGI, the share price was progressing towards our $5.00 valuation at a pace that was taking us by surprise. Continue…

    by Russell Muldoon Posted in Companies, Insightful Insights.

  • Returning to normal

    Ben MacNevin
    October 22, 2013

    When the Labor Government proposed changes to the Fringe Benefits Tax in July, it sent shock waves through the novated leasing industry. While the Coalition rejected the proposed changes when it was subsequently elected, companies like McMillan Shakespeare (ASX: MMS) experienced a sharp decline in business activity during this period. It now seems however that conditions are returning to normal. Continue…

    by Ben MacNevin Posted in Companies, Insightful Insights.

  • Calculating risk

    Roger Montgomery
    October 22, 2013

    In the context of the recent bushfires in NSW, Roger talks about insurance policies, and the business of calculating risk with Ross Greenwood on Radio 2GB. Listen here.

    by Roger Montgomery Posted in Radio.

  • Walk, then run (22/10/2013)

    Roger Montgomery
    October 22, 2013

    by Roger Montgomery Posted in Video Insights.