The title. What is the title Roger?
I never dreamed a simple little question about the title of a video series would have sparked almost 300 comments. Thank you!
Your suggestions have been entertaining, insightful, and in some cases, ingenious. It has been wonderful to meet so many new Value.able Graduates, and also those of you who have observed from afar (for far too long!).
Here are some of our favourites…
Montyvision, Mike
Video.able, Ben
Montcommentary, Emily
The Value.able Low.Down, Sean
Cooking with Roger, Chris L
Value.Cast, Tim P
Report.Able (Peter
Roger Direct (Matthew R
Roger’s Montgom-o-logue, Robert F
Value.Blast, Rob
Rogernomics, Tony
RMTV, Tim
Value.Bytes, SapporoSteve
Roger’s 2 Cents, Anthony
Value.View, Craig
Value.vision, Jonesy
Value.able report, Orlando
Report.Able, Rod
Value.judgment, Mike
Invaluable insights, Lloyd
InCompany, MarkH
Vis.able, Grover
The Value.able View, Ken F
Talking Cents, Bruno
Video.ables, Nolan
Crunch Time, Brian A
Value.able Vision, Chris L
The Value.able Report, Ian
View from the Mont, Stuart
Value.Log, David
The Montgomery ReTort, Kim
Cents.Ability, Stephen
So without any further ado, the winner is… Value.able TV.
Mark came very close with Value.TV, however it was the final suggestion from Greg (and reassurance from Brad 17) that we have selected as the winner. Greg – I’ll personally sign you First Edition copy of Value.able when I return from Melbourne tomorrow afternoon.
Tune in later this week (maybe early next week) for Episode 2.
If you are yet to join the Graduate Class, click here to order your copy of Value.able immediately. Once you have 1. read Value.able and 2. changed some part of the way you think about the stock market, my team and I will be delighted to officially welcome you as a Graduate of the Class of 2011 (and invite you to become a founding member of our soon-to-be-released next-generation A1 service).
Posted by Roger Montgomery and his A1 team, fund managers and creators of the next-generation A1 service for stock market investors, 29 July 2011.
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.
Andrew
:
An announcement i came across today on a company which i know has been mentioned here before. The company is AIR, it is not a company i am to familar with but it has passed some initial hurdles for further analysis.
The draft of the 2011 financial reports state that profit is expected to be $3.2M which is down from $3.8M in the PCP with the downgraxde down to increased competition, uncertainty around government policy amongst other things.
They also announced that the CEO which only started in April this year will leave in October of this year. this seems an unusally short stint at CEO. Was this expected? no reason was given for the resignation.
Have to say on the face of it (without digging deeper) it does not paint an overall rosy picture of this company.
Ray H
:
This is a fantastic market for value investors. I hope it falls further.
Roger Montgomery
:
We do too Ray.
Matthew D
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Nice little sell off on Wall Street ; )
Mark
:
So no prize for 2nd place. Oh well, maybe one day I can get you to sign my copies on a future visit to Perth :)
Roger Montgomery
:
Bring the book with Mark and I would be delighted to.
Greg
:
Hi Roger,
I think the last video presentation was excellent.
The content was extensive and pertinent.
It would be great to see a video on each of the A1s; alas not enough weeks in the season, I feel.
Keep up your good work.
Many thanks Greg
Roger Montgomery
:
Thanks Greg. Appreciate the encouraging words.
David
:
With all of the creative suggestions you received, why would you go with value.able, which is a slightly silly title to begin with ?
Roger Montgomery
:
Thanks David. See some of the learned comments made earlier here on the subject of branding.
Andrew
:
Some value.able inspired thoughts on investing.
For this exercise we will imagine we are in an amusement park called “The Market” and follow a young boy’s experience called Warren.
At this park their are two test your strength attractions. You know the ones, these are where you pound a sledge hammer onto a metal circle which then sends a little metal device upwards. The aim is to hit the circle perfectly that the metal device shoots all the way upwards at enough speed to ring the bell at the top. They also vaired in size. The tallest one was about 10 feet high and the other was only 1 foot high.
Warren was watching the test your strength area’s with great interest, he has never been a aprticularly strong young boy, the closest he got to a work out was a morning newspaper run. He was however a very smart young chap.
The test your strength section was having a competition and Warren gleefully joined up for it. The winner was the person who could hit the bell the most and would win untold wealth accumulation. The competition worked on a points basis, you got more points for hitting the big target than you did the small.
The contestents lined up, however Warren was the only one who lined up behind the one foot high machine. The others saw a very brash and confident young boy strut towards the 10 foot high machine. They decided that he must have known something the others didn’t to be so confident so they lined up behind him. Also, if they were able to hit the bell than it would make them look like really smart boys and all the girls will be impressed by their muscle size.
Warren however ignored these emotional thoughts and simply decided to think logically “this one is smaller” he said, “why do i need to then try and hit the higher one”.
The other boys teased Warren as being being different but he ignored the chuckles and taunts.
The boys on the tall machine went first. Despite their strongest swings of the mallet, none of them could hit the bell. The amount of things needed to see the swing result in the bell being hit was just to vast. Indeed the planets need to have alligned for it to happen it seems.
Next step was Warren, he waddled over to the small machine, grabbed the biggest mallet he could find and got ready after adjusting his glasses. He swung so hard and hit the circle so had the device went smashing into the bell. He then did the same thing over and over again accumulating up so many points it set a new record and he won the competition easily.
When asked what made him choose the smaller machine he said “why bother trying to hit a 10 foot bell when i can simply choose the one with the lowest risk and highest chance of return in the 1 foot bell and hit that repeatedly”.
The crowd booed, they thought he must have cheated, why could he hit the bell. All the others used the same one so there for that must have had the best chance of winning or else they would have used the small one as well.
One man called Charlie however, applauded him and asked Warren to join him on the “Easy as ABC” free fall roller coaster, he said its fun but he couldn’t understand why others seem so surprised when they start falling.
Stephen
:
There are some genuinely smart and witty contributors to this blog.
Matthew D
:
Looking for a way to value companies that have higher ROE than 60%.
Can anyone help me?
Roger Montgomery
:
Don’t expect rates of greater than 60% to be sustained. If they are sustained it is only because the payout ratio has gone up etc. In which case value will be a lot closer to table number one and that one is easy for you to apply even for higher-than-60% ROEs.
Matthew D
:
So just use 60% yeah?
Roger Montgomery
:
You are looking for bargains Matthew. That is the point of the whole exercise.
Michael
:
Ouch – Channel A1 didn’t make the top 32.
Congratulations to the winner.
Roger Montgomery
:
Hi Michael,
I liked Channel A1 but the geniuses in the Branding Department upstairs on level 54 said that we should continue with the Value.able theme. They are always right!
Steve
:
Hi Roger,
If you are starting to think this is about to become another one of those ‘generational’ opportunities to buy cheap stocks (or else if they are just looking darn cheap), feel free to let your loyal followers know. Either shout it from the rooftops or, alternatively, broadcast it via your new Value.able TV service. Don’t tell us after the fact!
Roger Montgomery
:
OK. Will keep you up to date and for free too!
Andrew
:
Hi Steve,
Not sure if it is one of those once in a generation opportunities to get companys on the cheap but as each day of people driven by sentiment send the market deeper and deeper into the red, more and more green is showing up on my watchlist to indicate discounts.
Some not big enough for a buy but it is definitley enough to get a value investors wallet get itchy.
Roger Montgomery
:
We have been investing with some enthusiasm today but of course we don’t bet the farm on any one day either…
kim
:
Roger picked just about the straightest suggestion:(
But as one who can count few honours in his life, I’m honoured at being in the list – I actually expected to get moderated from the outset!
Good survival trait to be easily amused, and I got sustained laughs out of some suggestions, my faves being:
View from the Mont
Sermon from the Mont
Montcommentary
and from Paul…
“i am seeing a Brains from Thunderbirds angle?”
Prasad
:
Huh? Wouldn’t ask Roger’s team advice on baby names!!!!
Roger Montgomery
:
Tried that – they went with Apple, Sailor and Camera!
David King
:
Roger, you won’t go wrong with that title. It’s your brand now, and established.
Roger Montgomery
:
In choosing names democracy doesn’t work.
Andrew
:
Hi Roger,
Simplicity s a lot of the time the best policy when it comes to these things. It is also an element that is attached to alot of what you write, how you explain things etc so i think it is a good choice.
After finishing my course, i have been .able to start re-reading and reading the books which i have had to delay. The 1st was a book which i have read about 10 times but it is good at resetting myself and my thoughts, the 2nd one is Value.able which i started today and will see me read it for the second time.
I have already had new insights this time than what i did for the first and i am only up to page 12. I think i see exactly what it is about value investing and your method that appeals to me and it links into what i said in the first paragraph. Value investing is a logical and common sense approach. I am a fan of logical and common sense. i have seen people over-complicate things (i myself have been guilty of this) and see disatrous results. I liked what you said about people in the investing business spending to much time coming up with formulas and indicators instead of focusing on the company. I must have glossed over this on my first read but it is a great point.
I look forward to seeing what new insights i develop from my second reading of value.able and will happily share them here when i find them.
The book i re-read 1st also has a line (amongst others) that i think we can apply to investing. The line is “if you don’t know what you are looking for, it is very hard to find it”.
I think it is important that people think about and come up (as you have with your MQR’s) with a definition as to what constitutes quality for them. As if you cannot define what quality is, than you will be finding it harder to find it.