Companies
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What we can learn from the CPA Australia fiasco
Andreas Lundberg
June 29, 2017
The promo for Alex Malley’s book, The Naked CEO, says the author has ‘led a life rich in successes and mistakes’. Well, those successes and mistakes have been on show of late, thanks to the spectacular meltdown of the organisation he led, CPA Australia, where we’ve witnessed the very worst of corporate excess – but at a not-for-profit industry body. continue…
by Andreas Lundberg Posted in Companies
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A Valuable Treatment
Ben MacNevin
June 23, 2017
Resmed was the first company under my coverage when I joined Montgomery and I’ve thoroughly enjoyed following the company for five years. Over this time, I’ve always been fascinated by the treatment of sleep apnea, and it’s helped shape my understanding of an important investing principle: To generate value, you don’t need to solve a problem, you just need to provide a solution that’s materially better than your competitors. continue…
by Ben MacNevin Posted in Companies
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What Amazon’s Whole Foods buy means for Aussie retailers
Stuart Jackson
June 23, 2017
Probably the biggest story of late was Amazon’s announcement that it would acquire the high-end grocery chain, Whole Foods, for US$13.7bn. The purchase is a significant step-up in Amazon’s assault on traditional grocery retailers. With the U.S. behemoth about to set foot on our shores, should Coles and Woolworths be even more alarmed? continue…
by Stuart Jackson Posted in Companies
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The grocery duopoly has its challenges, but is it in the share price?
Scott Shuttleworth
June 22, 2017
On 7 June, Wesfarmers held its strategy day. Two weeks on, we are hearing echoes from what was formally a very rational duopoly.
continue…by Scott Shuttleworth Posted in Companies
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Ten Times Trouble
Roger Montgomery
June 14, 2017
According to today’s Australian Financial Review, the board of Network Ten (ASX: TEN) is considering putting the station into administration after the company announced a material loss in April for the first half of the financial year and after the board failed to garner further financial support from its billionaire shareholders. continue…
by Roger Montgomery Posted in Companies
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Amazon, tell me more…
Daniel Wu
June 13, 2017
Recently Daniel Wu recorded a video insight that was so popular our readers have asked for a transcript. Amazon does not just compete on price, and he shares two important insights into how Amazon might look to operate in Australia. continue…
by Daniel Wu Posted in Companies
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Two companies benefiting from strong demographic trends
Andreas Lundberg
June 9, 2017
We like to invest in businesses with products and services where the underlying demand is strong and predictable. And when it comes to predictability, there are few things as certain as demographic trends. Today, I’d like to highlight two companies – Resmed (RMD) and Fisher & Paykel Healthcare (FPH) – that are taking advantage of strong demographic trends. continue…
by Andreas Lundberg Posted in Companies
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Wrapping up Vita Group
David Buckland
June 8, 2017
Today’s blog will most likely be our final with respect to Vita Group Limited (ASX: VTG). In a portfolio of 20-30 companies, we will make mistakes – and VTG is, in absolute terms, one of our larger ones. Importantly, despite this loss and others The Montgomery Fund has outperformed over the long term. We also maintain a continued focus on where and why we erred. continue…
by David Buckland Posted in Companies, Editor's Pick, Technology & Telecommunications
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Take-Two’s business model powers its share price to new highs
George Hadjia
June 6, 2017
Our global funds have owned shares in video game company Take-Two Interactive (Nasdaq: TTWO) since their inception. During that time, the stock price has surged by over 180%. We were ahead of the pack in selecting TTWO as a key holding, and I’d like to set out why we were attracted to the business. continue…
by George Hadjia Posted in Companies, Technology & Telecommunications
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Challenging Value
Roger Montgomery
May 29, 2017
In an equity market generally bereft of broad value and with non-income producing assets such as two-digit licence plates and Basquiat paintings hitting all-time records, it is well to discuss those businesses hitting the ball out of the park in terms of their business performance. continue…
by Roger Montgomery Posted in Companies
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