Companies
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Three factors that drive private hospital profits
Lisa Fedorenko
November 10, 2017
As an investor, there’s a lot to love about private hospital businesses, like Ramsay Healthcare (ASX:RHC) and Healthscope (ASX:HSO). For a start, they’re hard to disrupt. They also benefit from Australia’s ageing population, with its rising demand for health services. But the factors that influence profitability are a bit more complex. continue…
by Lisa Fedorenko Posted in Companies, Health Care.
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Westpac’s Global and Domestic Forecast
Roger Montgomery
November 8, 2017
Here’s the outlook according to Westpac. The following screenshots of two slides from Westpac’s results presentation summarises the banks official view about global and domestic growth. While the quantums are absent, investors may benefit from their insights, remembering of course that there is absolutely no short term correlation between economic performance and stock market performance. continue…
by Roger Montgomery Posted in Companies.
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Why REA Group continues to be a core Montgomery holding
Scott Shuttleworth
November 7, 2017
REA Group’s (ASX: REA) share price has soared around 50 per cent over the last 12 months, with the market confirming our strong conviction that this is a really high-quality business. And, pleasingly, there are several drivers that could propel the firm’s earnings for many years to come.
continue…by Scott Shuttleworth Posted in Companies, Property.
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Investments like Resmed help us sleep better at night
Andreas Lundberg
October 31, 2017
Resmed (ASX: RMD) – the Aussie sleep apnea treatment business – is a company we really like. It’s the largest position in the Montgomery [Private] Fund and second largest in The Montgomery Fund. And its 1Q results were again impressive, propelling the stock price to all-time highs.
continue…by Andreas Lundberg Posted in Companies.
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Is Telstra (finally) cheap?
Tim Kelley
October 30, 2017
Only 12 months back, Telstra (ASX: TLS) shares were trading at around $5.00. The fall since then has been precipitous. Which has got a lot of investors asking: does it finally represent good value? continue…
by Tim Kelley Posted in Companies, Editor's Pick, Technology & Telecommunications.
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Why we’d like to own Macquarie – but not just yet
Andreas Lundberg
October 27, 2017
We like high quality businesses. And Macquarie Group (ASX: MGQ) is clearly one of those. So, you may wonder, why don’t we hold it in our funds? continue…
by Andreas Lundberg Posted in Companies.
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Four reasons to buy Challenger
Andreas Lundberg
October 18, 2017
Like all good companies, Challenger Limited (ASX: CGF) has a habit of under-promising and over-delivering. It’s a fact not lost on investors, who have driven the share price up from around $3 five years ago, to over $13 today. Challenger is a top 3 holding in The Montgomery Fund, and our confidence in the business was borne out yet again this week when it reported a 1Q trading update. continue…
by Andreas Lundberg Posted in Companies.
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Has Select Harvests gone nuts?
Andreas Lundberg
October 13, 2017
Just as we start to believe we have seen everything, all of a sudden a company takes us by surprise. Take the recent decisions by Select Harvests, for example. continue…
by Andreas Lundberg Posted in Companies, Editor's Pick.
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Online shopping giants inherit the questionable logic of logistics
Roger Montgomery
October 12, 2017
It’s time to ask whether the tyranny of distance becomes the achilles heel of the giant online shopping networks … or to put it another way, are logistics companies part of the online boom or part of its problem? continue…
by Roger Montgomery Posted in Companies, Consumer discretionary.
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Does it make sense to own Wesfarmers?
Tim Kelley
October 10, 2017
Followers of our blog may raise an eyebrow at the sight of Wesfarmers (ASX: WES) recently finding its way into the top ten holdings in The Montgomery Fund. Over the years, we have written various articles on the headwinds facing the Australian supermarket industry, with a particular focus on the rise of discounters like Aldi, and more recently we have observed that Woolworths has taken steps to reverse a long trend of weak like-for-like sales performance, and begun to retake market share. continue…
by Tim Kelley Posted in Companies.
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