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Where’s the Value?
Roger Montgomery
November 26, 2012
Roger provides his insights into the current lack of value in the Australian market with Ross Greenwood on his 2GB radio show. Listen here.
This program was broadcast 26 November 2012.
by Roger Montgomery Posted in Companies, Intrinsic Value, Investing Education, Radio.
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What are Roger Montgomery’s insights into value in the current market?
Roger Montgomery
November 21, 2012
Do Maxitrans (MXI), QBE (QBE), ARBE Corporation (ARP), Cobar Consolidated (CCU), IOOF (IFL), Seek (SEK), Fleetwood (FWD), Adelaide Brighton (ABC), NIDO Petroleum (NDO), Boral (BLD), Cardno (CDD), Jumbo Interactive (JIN) or Coca Cola Amatil (CCA) achieve the coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call 21 November 2012 program now to find out, and also learn Roger’s insights into value in the current market in resource stocks. Watch here.
by Roger Montgomery Posted in Companies, Investing Education, Market Valuation, TV Appearances.
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Is Telstra in love with Ten?
Roger Montgomery
November 16, 2012
With the Ten share price up 5% today we reckon some participants must be trading on rumours. In this case, rumours are swirling around the market that Telstra is about to buy Ten. We don’t of course trade in rumours and we won’t be starting now. We are keen however to watch Telstra’s content strategy roll out – in anticipation of the NBN being completed. As we have previously mentioned, by 2017 Telstra will likely dominate the digital delivery of content. The delivery platform will have been levelled and so the competitive focus for Telstra needs to be content. They’ll knock on your door with a big black box and bundled deal offering IPTV, Foxtel, FoxSports and (Ten?) all on the one platform for one great price….
So could Ten be part of that strategy? As is always the case with rumours, time will tell.
by Roger Montgomery Posted in Companies, Insightful Insights, Market Valuation.
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MEDIA
What are Tim Kelley’s insights on Exchange Traded Funds?
Roger Montgomery
November 15, 2012
Do Energy Action (EAX), Central Petroleum (CTP), Perseus (PRU), Iluka Resources (ILU), AGL (AGK), Matrix (MCE), Reward Minerals (RWD), FKP Property (FKP), Rio Tinto (RIO), Telecom NZ (TEL), Hills Holdings (HIL), Aurora (AUT), DWS (DWS) Cash Converters (CCV) or NAB (NAB) achieve the coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call 15 November 2012 program now to find out, and also learn Tim’s insights on Exchange Traded Funds. Watch here.
by Roger Montgomery Posted in Companies, Insightful Insights, Investing Education, TV Appearances.
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The Resource Service Companies are Contractors
David Buckland
November 14, 2012
The contractual nature of the resource service sector was highlighted with Emeco’s latest earnings downgrade. Their Australian fleet utilisation has declined from 91% in the 6 months to June 2012 to the current 66%. A combination of weaker demand, contract revisions, and contract non-remewals was to blame. Commentary particularly reflected lost contracts from the iron ore and coal industries. Expectations for the Company’s revenue line has been cut by 20% to around $550m for each of Fiscal 2013 and 2014, while net earnings have been reduced by around one-third to $51m and $58m, respectively. At the current share price of $0.51, some brokers are calling Emeco a buy as it is now selling on a prospective PE of 6X and a one-third discount to its net tangible asset backing of $0.76 per share.
Nevertheless, we remain cautious on the outlook for the resource service companies generally and believe investors should be wary of Emeco’s forecast $443m net indebtedness.
by David Buckland Posted in Companies, Energy / Resources, Insightful Insights.
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Changes in the car market – enduring or short-term?
Roger Montgomery
November 12, 2012
AMA, MXI, AHE and ARP share prices are all booming on the back of surging demand in an under supplied car market, causing a shortage of capacity which is driving up margins for the sector’s operators.
You can read one of our recent post on the subject here.
Naturally we have been drawn to the operators in the sector on the back of this capacity shortage. The ability to charge higher prices in a capacity-constrained environment is great if they are enduring, but I must ask, is the entire sector in a little bubble? A bubble in profitability and short-term market growth?
continue…by Roger Montgomery Posted in Companies, Insightful Insights, Manufacturing.
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MEDIA
What are David Buckland’s insights into Small Cap Mining stocks?
Roger Montgomery
November 6, 2012
Do Imdex (IMD), Sundance Resources (SDL), Woodside (WPL), Axiom Mining (AVQ), Seven West Media (SWM), Silverlake Resources (SLR), Mesoblast (MSB), Titan Energy (TTE) , Metcash (MTS), Emeco (EHL) or Magellan (MFG) achieve the coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call 6 November 2012 program now to find out, and also discover how David approaches investing in small cap mining stocks. Watch here.
by Roger Montgomery Posted in Companies, Insightful Insights, Market Valuation, TV Appearances.
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Important enhancements to Skaffold
Roger Montgomery
November 5, 2012
If like me, you are a Skaffold member, you will have noticed something dramatic has happened when you logged in recently.
(If you are not a member, what are you waiting for?)
Quietly and without much fanfare, Skaffold just got a whole lot more valuable to me.
I’d like to share with you – just this once – some of the information that Skaffold members received recently and tell you a bit about the change.
continue…by Roger Montgomery Posted in Companies, Skaffold.
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It’s a Tasty,Tempting Mix
Roger Montgomery
November 1, 2012
In his Money Magazine November 2012 article, Roger highlights the ongoing competitive advantage of Breville Group (BRG). Read here.
by Roger Montgomery Posted in Companies, Market Valuation, On the Internet.
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Where is the value? Let Skaffold keep you posted!
Roger Montgomery
October 22, 2012
Last week on 2GB I didn’t speak to Ross Greenwood as I normally do. He was off in New York for Channel Nine. Instead I had a terrific chat with my friend and former fund manager Matthew Kidman.
As usual we didn’t have a great deal of time but I asked Matthew whether he was seeing much value and his reply was telling. Like me, it seems to Matthew that value was getting thin on the ground, particularly among the higher quality companies.
There is still a few pockets of value and we named a few stocks. Matthew mentioned that he also predicted that the market would now strengthen and stocks that are fairly valued may continue to rally well beyond fair value.
I am less able to predict stocks and their short term price direction. To reduce risk what we do is simply analyse those companies that come into value as their prices, values and quality scores change.
by Roger Montgomery Posted in Companies, Insightful Insights, Intrinsic Value, Skaffold.