articles by Joseph Kim
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A review of markets in 2021
Joseph Kim
December 17, 2021
2021 is almost in the books, and it’s once again time to have a quick review of how markets fared. While noticeably less “historic” than 2020’s record breaking year in terms of market volatility and extraordinary events, there were enough developments to keep market participants on their toes. (As an aside, it’s possible the 24 hour news cycle, rapid digestion of information and short-termism will mean volatility of returns will remain a feature going forward). Continue…
by Joseph Kim Posted in Market commentary.
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What is going on underneath Nasdaq?
Joseph Kim
December 13, 2021
After hitting a record high in mid-November, the tech-heavy Nasdaq index in the US has encountered some volatility, as the combination of Jerome Powell’s reappointment as head of the US Reserve, an increasingly hawkish Fed and Omicron concerns has led to some selling. Continue…
by Joseph Kim Posted in Editor's Pick, Global markets.
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Sydney Board recommends takeover offer at $8.75
Joseph Kim
November 10, 2021
Back in July, the IFM consortium lobbed a full takeover offer for Sydney Airport (ASX:SYD), Australia’s busiest gateway. With the airport about to change hands, here’s why Montgomery Fund’s retained most of its shareholding in SYD throughout the takeover period to date. Continue…
by Joseph Kim Posted in Airlines, Companies, Editor's Pick, Stocks We Like.
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What to do when a takeover offer is made for a stock you own
Joseph Kim
November 2, 2021
Lately, we’ve seen numerous takeover offers for ASX-listed companies like Smartgroup, Hansen Technologies, and Iress. These offers inevitably leave investors wondering whether to buy more shares, sell their holding or sit tight. The answer is always the same: it depends on the context. In this blog, I set out a few tips to help you assess the best way to respond to a takeover offer. Continue…
by Joseph Kim Posted in Companies.
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How Squid Game is generating interest in Korean entertainment stocks
Joseph Kim
October 5, 2021
If you needed any further proof that narratives have been a significant driver of individual stock returns in the current market environment, you need look no further than the impact the recent success of Squid Game has had on the share prices of media companies in South Korea. Continue…
by Joseph Kim Posted in Companies.
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How Evergrande the parent hurt Evergrande New Energy
Joseph Kim
September 20, 2021
One thing that has recently caught my eye has been the unravelling of China Evergrande Group – a conglomerate with over 100,000 employees spanning primarily real estate development but also new energy, property services and health amongst other industries. Continue…
by Joseph Kim Posted in Companies.
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What we learned from reporting season
Joseph Kim
September 8, 2021
Another reporting season has come and gone. In all, 345 ASX listed businesses reported their FY21 results, which kept market analysts busy assessing the ‘beats’ and ‘misses’, earnings revisions, macro trends and warning signals. Here are the chief take-outs from the analysts at investment banks Macquarie and JP Morgan.
Continue…by Joseph Kim Posted in Companies, Stocks We Like.
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Capricorn Metal’s new acquisition gives potential for a multi-mine gold company
Joseph Kim
August 6, 2021
We recently mentioned Capricorn Metals (ASX:CMM) as a stock to watch with the company entering the commissioning phase of the Karlawinda project. Since then, there have been a couple of notable developments from the company including an acquisition and an operating update which has helped support our thesis. Continue…
by Joseph Kim Posted in Companies, Stocks We Like.
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What can we learn from the investing themes of FY21?
Joseph Kim
July 16, 2021
July is a natural time for us to review the financial year just past – both in terms of The Montgomery Fund as well as the investment journey of the broader market. The 2021 financial year was unprecedented in many ways, not just because the last 12 months has seemed more like an extension of the initial COVID-19 fallout of the June 2020 quarter, but also because of the volatility witnessed in the broader market given the rapid pace of developments in a suddenly “less predictable” world. Continue…
by Joseph Kim Posted in Market commentary.
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Why we chose Sydney Airport as our primary re-opening trade
Joseph Kim
July 7, 2021
On Monday, Sydney Airport (ASX:SYD) was the recipient of an unsolicited, indicative, conditional and non-binding proposal from a consortium of infrastructure investors including IFM, QSuper and Global Infrastructure Management for $8.25 per share. The bid represents a 42 per cent premium to the last close price, albeit remains at a discount to its pre-COVID-19 share price while being approximately 20 per cent higher than most recent peaks of around $6.90 per share reached in June and November last year. Continue…
by Joseph Kim Posted in Companies, Editor's Pick, Stocks We Like.
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