Monthly Archives: August 2021

  • Why unfettered capitalism is failing us

    Roger Montgomery
    August 31, 2021

    One of the seemingly inevitable consequences of capitalism is the increasing concentration of market power in the hands of fewer and fewer large corporations. This issue was raised in a recent speech by ACCC Chair, Rod Sims, who noted the many ways in which increasing market power is adversely impacting Australian society. In his speech, Mr Sims also stated what I have long been advocating: governments need to do something about it. Continue…

    by Roger Montgomery Posted in Global markets, Market commentary.

  • A small cap embedded in a multi-year growth opportunity

    Roger Montgomery
    August 30, 2021

    In this article for Livewire Roger discusses why we like Macquarie Telecom. We’ve promoted the Macquarie Telecom story and explained the investment opportunity since about $25 per share, and our small cap team think it is worth far more than that today. We also believe considerable upside remains from its current price of $76. Read here. Continue…

    by Roger Montgomery Posted in On the Internet.

  • Why Polen Capital expect mid to high-teens EPS growth from Mastercard

    Roger Montgomery
    August 30, 2021

    Mastercard (NYSE:MA) is the second largest processor of debit and credit transactions globally behind Visa. It has a market capitalisation of US$354 billion and is a top 10 holding in the Polen Capital Global Growth Fund. Continue…

    by Roger Montgomery Posted in Companies, Editor's Pick, Stocks We Like.

  • Lovisa and Universal Store keep delivering for our funds

    Roger Montgomery
    August 26, 2021

    Australian jewellery chain, Lovisa, and fashion retailer, Universal Store, have just reported their FY21 results. Both businesses lived up to our expectations, particularly given the rollercoaster year just gone. It was further endorsement of our decision to include these businesses in our funds. Continue…

    by Roger Montgomery Posted in Companies, Consumer discretionary, Stocks We Like.

  • Why I think Scentre Group shares are still good value

    Andreas Lundberg
    August 26, 2021

    In March 2020, during the COVID-19 sell-off, the share price of shopping mall company, Scentre Group (ASX:SCG), hit a low of $1.51. It’s been a bumpy ride since then, with more lockdowns, but the share price has recovered nicely.  And the company’s FY21 results paint a picture of a business in reasonable shape and still trading at a steep discount to the value of its net tangible assets. Continue…

    by Andreas Lundberg Posted in Companies, Stocks We Like.

  • After a record year, what next for Adairs?

    Stuart Jackson
    August 25, 2021

    As with many other discretionary retailers, FY21 proved to be a bumper year for homewares and online furniture retailer, Adairs (ASX: ADH). The company enjoyed record sales growth and operating margins. But there are already signs that FY22 will not be as easy. Continue…

    by Stuart Jackson Posted in Companies, Consumer discretionary, Stocks We Like.

  • SAP – a global powerhouse

    Roger Montgomery
    August 24, 2021

    Founded in 1972 and headquartered in Germany, SAP is one of the world’s largest providers of fully integrated enterprise resource planning (ERP) software, including finance, sales, accounting, human resources and supply chain management and perhaps most importantly, 77 per cent of the world’s transactions hit a SAP system. Continue…

    by Roger Montgomery Posted in Companies, Stocks We Like.

  • Fear and Greed: Easiest way to make money on the ASX

    Roger Montgomery
    August 23, 2021

    Roger joined Sean Aylmer on the Fear and Greed Podcast to discuss the prospects for the discretionary retail sector. With international and domestic travel off the table for Australians, people are looking for other ways to spend their money. This has resulted in a boost for retailers like JB Hi-Fi, Harvey Norman, Temple & Webster and Kogan. Although what happens when this spending slows down?

    by Roger Montgomery Posted in Editor's Pick, Podcast Channel.

  • Six companies that have caught my eye in reporting season

    Roger Montgomery
    August 23, 2021

    The COVID-19 pandemic, and associated lockdowns, have impacted some businesses very positively, but been less kind on others. These impacts are coming to light in the current FY21 reporting season. Here, I’d like to highlight the results of six companies I’ve been following for a while. Continue…

    by Roger Montgomery Posted in Companies, Editor's Pick.

  • Plenty to like in Spark NZ’s FY21 result

    Andreas Lundberg
    August 20, 2021

    Funds in the Montgomery stable are long-time holders of Spark, New Zealand’s leading telco. Spark is a steady performer, and a consistent dividend payer. And its recently reported full year results paint a picture of a telco in good financial health with potential for value creation by capital recycling. Continue…

    by Andreas Lundberg Posted in Companies, Stocks We Like.