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Have you submitted your photograph to the Value.able Graduate Album?

Companies, Insightful Insights, Investing Education, Value.able | Comments (13)

Have you submitted your photograph to the Value.able Graduate Album?

Jesse, Michael, Young Les, Justin, Matt, Rad, John, Ron, Young Max, Gary, Dan’s mum, Gary, George, Steven, JohnM, Paul, Steven and Sophie, Michael, Alya, Martin, Bernie, Amit, RBS Morgans Gosford, Jim Rogers, Daniel, Keith, Gavin, Graeme, Nick, Gelato Messina, Chris, Rodger, Phil, Vikki, Mark, Hien, Kenneth, Greg, Peter, Bernie, Paul, John, Bill, Bryan, Di and Lesley, Craig, Scotty, Chris, Main Amigo Stan, Charles, Fred, David, Mark, Collin, Nevada Cody and Winston, Peter, John, Nathan, Mal, John, Tony, Les, William Grant, Greg, Mike, Paul, Roger, Mike, David, Paul, Sinaway, Anders, Frank, Jake, Johan, Mark, Rob, Ian, Joan, Claude, Toni, Richard, Matt Jnr, Indrash, Sara, Garry, Jonathan, Ganesh, James, Kevin, Jim, Peter, Greg, Stuart, Craig, Eric, Robert, Ermin, Mike, Syed, Wilma, John, Alf, Tony, Phillip, Robyn, James, Carolyn, Roy, Peter, Jack, Kevin, Howard, Leo, Jonathan, Carole, Eileen, James, John, Martin, Ordan, Warren, Andrew, Liz, Jim, Anthony, Bob, Douglas, Christine, Frank, Martyn, Michael, John, Dave, Peter, Darrell, Jeffrey, David, Joof, Tom, Leigh, Mervin, Paul M, Paul K, Noel, Bob, George, Leigh, Bob, Steve, Monica, Richard, Frank, Brett, Steven, Colin, Wayne, Joanne, Dan, Garry, Lin, Judi, Allan, Stephen, Garth, John, Joab, Phillip, Kevin, John, Robert, Tweety and Bert, Peter, Mike, Patrick, Eugene, Brian, Harold, Russell, Brad, Rajest, Tim, Gemma, William, Bill, Robert, Geoff, Gary, Emily, Kent, Lucas, Neil, Peter, Rowley, Jason, Simon, Charles, Russell, Grahame, Lester, David, John, Richard, Mitra, John, Dave, Peter, Geoff, Paul, Derek and Rod have already submitted their photographs for inclusion in the Graduate album. My team – Russell, Vanessa, Rachel and Chris, will add theirs shortly.

Have you emailed yours?

We plan to frame the album and hang it at the entrance of our office, next to another invaluable piece – Stay Calm and Carry On.

Posted by Roger Montgomery and his A1 team, fund managers and Value.able Graduates, 9 June 2011.

INVEST WITH MONTGOMERY

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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13 Comments

  3. Andrew
    :

    Hi All,

    Anyone know of a place that you can find the yearly low and high market prices for years since past?

    • Andrew
      :

      sorry just want to be more clear, i would prefer if this was measured over financial and not calender years.

  4. Ronald Parsons
    :

    Hi Roger,
    Sent my photograph,with your wonderful book,to facebook today,
    12 june,Hope to get it in the Big Picture for 2011.Still absorbing.
    Ron Parsons.

  5. Luke
    :

    Hi Roger,

    I would submit my value.able picture but I don’t have my copy of value.able right now because I am on my honeymoon!

    Perhaps I should have brought it with me? :)

    Cheers,
    Luke

  6. Iain
    :

    Roger

    With regard to the most recently listed watchlist of companies, I think you’ll find Wridgways is no longer quoted on the ASX as it was taken over by Sante Fe in December last year.
    regards
    Iain

  7. Craig
    :

    Roger,

    The “Recent Posts” section of your menu shows 5 bullet points. Wondering if you may consider increasing this to maybe 8 or 10?

    Regards,
    Craig.

  8. Andrew
    :

    Hi All,

    Using this post a s a break in transmission i thought i would post some miscellaneous thoughts about this investing caper, some of which you may have heard before whether by me or others.

    One should not get too caught up with trying to be an expert on every business, what this means is that you will end up spending so much time looking into companys (many of which are not investment worthy) that you will find yourself turning into a valuation robot. These are the people who spend what seems like almost every waking minute trying to work out IV’s and whether a company is investment grade, worth buying, margin of safety exists etc.

    The best way to turn the market off is to do exactly that and go do something else. Enjoy your life and loved ones. Needless to say that once 5pm comes along both my work and investing ceases to exist and instead i will enjoy the time with my fiance.

    Also, a positive of not trying to be an expert on all businesses is the equivalent of the pareto principle. This loosely says that 80% of the effects are down to 20% of the causes. If you do this 20% to the best of your ability than you will find that it flows through to the rest of the 80% and your day becomes a whole lot easier.

    How does this reflect to investing, well it is like a simple diversification discussion. Instead of trying to understand every business you should instead focus on a handfull of companys that are quality companys and suit your style and knowledge. Becoming an expert on 20% of companys is a lot easier than 100% and you will be more focused and able to come up with higher quality valuations, analysis, opinions and information to base your investing decisions on. This would then flow through to your returns on your investments as the more knowledgable you become the better your decision making will be and this should result in better investing.

    Also, as everyone is aware, a large portion of the ASX is rubbish and not worth investing in anyway so why bother spending time on them, also they can’t be valued as if they are not investment quality than no appropriate required return exists for that investment, if you can’t work out a required return for that investment than the calculation won’t work.

    Don’t be afraid to innovate and come up with a system that you believe in and will follow. No harm in innovating, its something along with change which australians generally don’t do to well in my opinion. Roger has given us a good base to learn further, it is up to use to expand our knowledge and set up a quality investing framework which you can than find the appropriate tools (perhaps Rogers upcoming A1 service) to help you do it to the best of your abilities.

    I have found being inquisitive towards life and business has let me learn new tools which i can innovate and change to help me in all parts of life, investing included. I think it would be interesting if people talked about misc things that they have learned and have some how used to change the way they think about investing or helps them in their investing activities. I have added my castle theory in some post previously amongst other things. I am always questioning how can i improve in all aspects of life and this leads to me learning and improving my investing amongst other things. From what i see, Roger is a big fan in innovation and questioning things as to how to make things better. It is why i believe him when he says his new product is well ahead of anything else currently available. It is such a healthy attribute to have.

    I think some people have a mind set of “Calculate value first-ask questions later” when the oppositie should be true for a successful value investor. Think “Knowledge first-value later”. I will check the market approx once a week, see if any companys have a MOS and than i might decide to watch it a bit closer if i think an opportunity is coming up. If it isn’t well than there is a whole lot of more important stuff in my life happening that will pay off in 5,10, 15, 20 years time.

    Seeing how this is a general blog (no specific topic in regards to investing) i thought i would post some general thoughts.

    • Andrew
      :

      Also, i forgot to add.

      We should always focus on quality whether it be in regards to the companys we look at to invest in or the systems and data we use to make our decisions.

      Functionality, affordability and visual attractiveness can be important but it should never hinder quality and if we cannot be 100% sure of that quality than we need to take note of it. This is why i pay very little weight to some of the data on the online broking houses consensus research. I wouldn’t make investment decisions absed solely on this information.

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