Companies
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Will Christmas shopping rescue Australia’s retailers?
Dominic Rose
November 13, 2019
You can’t underestimate the importance of retail spending. When nations open their wallets, it stimulates the economy. Investors have been bracing for a cheerier Christmas, however should we be worried about recent data which has shown a marked slowdown in momentum? continue…
by Dominic Rose Posted in Companies, Consumer discretionary.
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Banking on lower Growth
Stuart Jackson
November 12, 2019
As highlighted in the recent results announcements from Australia and New Zealand Banking Group (ASX:ANZ), Westpac (ASX:WBC) and National Australia Bank (ASX:NAB), the earnings and profits of our major banks are on the slide. It’s further justification for the investment strategy of The Montgomery Fund and The Montgomery [Private] Fund to have an 85 per cent active underweight position in the major banks. continue…
by Stuart Jackson Posted in Companies, Editor's Pick, Financial Services.
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Cedar Woods set to benefit from a housing rebound
Roger Montgomery
November 12, 2019
Have house prices and building activity bottomed? It sure seems that way – even if the trend is still negative. And that’s great news for businesses exposed either directly or indirectly to the construction industry. One business set to benefit is WA-based Cedar Woods Properties (ASX:CWP). continue…
by Roger Montgomery Posted in Companies, Property.
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Is there more upside potential for Avita Medical?
Joseph Kim
November 1, 2019
Avita Medical (AVH:AU) is a regenerative medical device company that produces the RECELL device for the treatment of burns. It is a company I have written about previously and whilst being a recent addition to the Montgomery fund’s portfolios, it has been one of its better performers. Given the share price appreciation in a short period of time, it’s worth reviewing the company’s operating performance and potential for further upside. continue…
by Joseph Kim Posted in Companies, Stocks We Like.
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Why our Small Companies Fund sees value in IMDEX
Dominic Rose
October 29, 2019
These days, I hear many commentators say it’s hard to find value in the market. But if you look hard enough, it’s still possible to find a gem. One of these is IMDEX (IMD), a global mining-tech company. With a strong management team, an attractive product suite, high returns, and a net cash position, IMDEX could be set for a significant step-up in earnings growth. continue…
by Dominic Rose Posted in Companies, Stocks We Like.
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Three companies exposed to the housing slump
Roger Montgomery
October 28, 2019
Between 2012 and 2016, mortgage lending standards were relaxed fuelling a domestic property investing boom. Together with a surge in offshore buying interest, a property and construction boom led to oversupply and frequent warnings from your author. The oversupply is now hitting the property market at the same time that bank lending standards have been tightened, property prices are falling, quality has been found wanting and building approvals have plunged. continue…
by Roger Montgomery Posted in Companies, Editor's Pick, Property.
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Changing competitive dynamics in mortgage lending
Stuart Jackson
October 28, 2019
In my video blog last week, I discussed why the major banks had not passed on the recent RBA rate cuts in full. This is due to an increasing proportion of each bank’s funding base approaching zero or close to zero interest rates. As most bank customers would know, transaction and traditional savings accounts pay little or no interest at present. This fixes the funding cost of these deposits for the banks irrespective of what the RBA does in terms of lowering its official overnight rate. continue…
by Stuart Jackson Posted in Companies, Financial Services.
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It’s all about the Cash Flow
David Buckland
October 25, 2019
Roger Montgomery has written extensively about the profitless Unicorns – recent start-ups like Slack Technologies, Uber, Lyft, Peloton and WeWork – which are yet to produce predictable or sustainable cash flow. The table below details each of these companies’ share price movements from their recent peak, their current market capitalisation, their recent quarterly revenue on an annualised basis, and finally the ratio of the current market capitalisation to annualised revenue. continue…
by David Buckland Posted in Companies.
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At Super Retail Group, sales keep on rising
Roger Montgomery
October 24, 2019
Super Retail Group (ASX:SUL) is one of Australia’s best-performing listed retailers. And that was borne out again in its latest trading update, which revealed growing sales across all its franchises. However, margins are starting to come under pressure as the business seeks to grow market share. continue…
by Roger Montgomery Posted in Companies, Stocks We Like.
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You were warned – beware of those profitless Unicorns
Roger Montgomery
October 24, 2019
As regular readers know, we’re not great fans of profitless ‘Unicorns’ – the name given to startups valued at over $1 billion – like Tesla, Slack, Uber, Peloton, Lyft and WeWork. For a long time we’ve been hyper-critical of these companies in our blogs, The Australian, Professional Planner and Money Magazine. And, as that latest from WeWork reveals, boy have our concerns been justified! continue…
by Roger Montgomery Posted in Companies, Editor's Pick.
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