articles by Russell Muldoon
-
Did Christmas come at all?
Russell Muldoon
January 21, 2015
Following on from our anecdotal feedback we posted last week that Christmas trading came very, very late for retailers, the Australian Chamber of Commerce and Industry (ACCI) has trumped even our most negative expectations.
ACCI produce a quarterly survey of a group of businesses and their investing confidence. The latest survey for the December 2014 quarter described the all-important Christmas retailing period as “the worst for 23 years”. Continue…
by Russell Muldoon Posted in Consumer discretionary, Insightful Insights.
-
How did retailers go over Christmas?
Russell Muldoon
January 16, 2015
Since we last published this chart back in November, our view on listed retailing stocks remains largely unchanged and based on anecdotal feedback to date, the wealth effect from rising share markets and property prices is still not translating into spending. We have seen three downgrades (Kathmandu, Flight Centre & Oroton) and based on our research, it’s entirely possible these will not be isolated cases. Continue…
by Russell Muldoon Posted in Consumer discretionary, Insightful Insights.
-
Is the US too expensive?
Russell Muldoon
January 15, 2015
With headlines booming across the newswires such as “U.S. Retakes Helm of Global Economy” citing the US economy is on the up, the US market has soared as share prices – on average – have baked-in a clear road ahead for listed businesses and their earnings prospects.
But just to what extent? Continue…
by Russell Muldoon Posted in Companies, Insightful Insights, Market Valuation.
- 1 Comments
- save this article
- 1
- POSTED IN Companies, Insightful Insights, Market Valuation.
-
Can Sirtex Medical repeat its share price surge in 2015?
Russell Muldoon
January 5, 2015
Jessica Gardner writes an in depth piece about Sirtex Medical and its growth potential in 2015. She mentions Montgomery’s Russell Muldoon and his views on the liver cancer treatment drug and the approaching trial. Read here.
by Russell Muldoon Posted in In the Press.
- READ
- save this article
- POSTED IN In the Press.
-
Sirtex Medical vs BTG?
Russell Muldoon
December 18, 2014
We have watched the share price fall in Sirtex Medical over the past week with some interest, and whilst we don’t take our cues from price action alone, we did a fair amount on enquiry as to what had spooked investors over such a short space of time. Continue…
by Russell Muldoon Posted in Health Care, Insightful Insights, Investing Education.
-
Eco growth, is it slowing?
Russell Muldoon
December 10, 2014
In the past few months, we have noted that retailing – among other sectors that make up the Australian economy – slowed dramatically in the June quarter of 2014. The September quarter reports from many companies over AGM season saw a continuation of that trend.
Further to our recent observations, Australia GDP just printed at 0.3 per cent for the September quarter. By contrast, 0.5 per cent for the June quarter 2014, confirms that economic growth is waning in Australia and the RBA might be forced to cut rates further. Continue…
by Russell Muldoon Posted in Economics, Energy / Resources, Insightful Insights, Investing Education.
-
Does a lower price mean the shares are cheap?
Russell Muldoon
December 5, 2014
Following on from our recent blog post here and our Head of Research, Tim Kelley’s video blog – on the changing supermarket industry landscape – we are naturally watching the developments in the sector closely (from the sidelines), taking a keen interest in the half year result reported this week by Metcash Limited (ASX:MTS).
To quickly summarise: their half year results showed continued deterioration to which the market has reacted accordingly, with their share price down circa 27 per cent since. Continue…
by Russell Muldoon Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
-
Is Aldi a real threat to Woolworths & Coles?
Russell Muldoon
November 26, 2014
In recent weeks you have probably noticed a dramatic increase in the volatility of Woolworths Limited (ASX:WOW) share price and wondered: what has changed recently? The answer is that something has caused the market to re-think the longer-term prospects of the business.
The detail is found in a very insightful conference call we had recently with the former head of Aldi UK, Paul Foley. Continue…
by Russell Muldoon Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
-
What is happening in the retail sector?
Russell Muldoon
November 20, 2014
Asset prices are well-up on just a few years ago. No matter which way you cut the data, both the property and share markets have performed strongly. And so the economic theory goes: that if you feel wealthy, you’ll act wealthy and go out and spend. Exactly what a low interest rate envrionment – the one we are in now – is supposed to encourage.
But unlike past economic cycles, where the wealth effect has translated into the withdrawal of equity to be used on consumption of new furniture or a stereo for example, our listed retailers tell a different picture about the health of the Australian economy.
by Russell Muldoon Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
-
Darth Veda
Russell Muldoon
November 7, 2014
Veda Group Limited (VED) is one of the more successful IPO’s we have participated in recently. Listing in early December 2013 at $1.25 the stock went on to subsequently double in price hitting a high of $2.55 just a few months later.
Adding to this success was the exceptional 2014 full year results that came in ahead of the prospectus guidance, producing one of the best reports over the August reporting season. Continue…
by Russell Muldoon Posted in Companies, Insightful Insights, Market Valuation.
