Companies
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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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Why I think NextDC is undervalued
Gary Rollo
October 18, 2019
What’s going on with the share price of data center provider NextDC (ASX: NXT)? Over the past year, it has massively underperformed other firms in both the tech and AREIT sectors. But with interest rates staying low, and the demand for data center services booming, is its market valuation set to rise? continue…
by Gary Rollo Posted in Companies, Stocks We Like.
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Why IDP Education ticks all our boxes
Dominic Rose
October 16, 2019
IDP Education (ASX: IEL) places international students into Australia and other key English speaking destinations, while also administering English language proficiency tests. With defensive earnings, a long runway for growth and strong industry tailwinds, we think there’s plenty to like about this Australian-based global business. continue…
by Dominic Rose Posted in Companies, Stocks We Like.
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Why valuation still matters
Joseph Kim
October 4, 2019
There has been a lot written about the death of value investing, and how growth investing has outperformed significantly over recent years. However, it is important to distinguish the difference between the traditional concepts of “value” investing – i.e. capital intensive industries trading at low price-earnings or other similar ratios (including price / book), with the concept of “valuation” – determining the present value of an asset. continue…
by Joseph Kim Posted in Companies, Investing Education.
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Why EML is a core holding in our Small Companies Fund
Dominic Rose
October 4, 2019
We recently launched the Montgomery Small Companies Fund. This new fund has invested in some truly dynamic businesses that we believe will deliver superior returns over the coming years. One of those is EML Payments (ASX: EML). continue…
by Dominic Rose Posted in Companies, Editor's Pick, Stocks We Like.
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