Companies
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It’s not all doom & gloom in retail
Scott Shuttleworth
December 11, 2014
Upmarket furniture seller Nick Scali (ASX: NCK) had an excellent financial year in 2014 with its success seemingly continuing into FY15. I’ve made a few notes on their outlook, whilst reading through the Chairman & Managing Director’s 2014 AGM addresses, which you can read in full here. continue…
by Scott Shuttleworth Posted in Companies, Consumer discretionary, Value.able.
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Does a lower price mean the shares are cheap?
Russell Muldoon
December 5, 2014
Following on from our recent blog post here and our Head of Research, Tim Kelley’s video blog – on the changing supermarket industry landscape – we are naturally watching the developments in the sector closely (from the sidelines), taking a keen interest in the half year result reported this week by Metcash Limited (ASX:MTS).
To quickly summarise: their half year results showed continued deterioration to which the market has reacted accordingly, with their share price down circa 27 per cent since. continue…
by Russell Muldoon Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
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What is the machine teaching us?
Tim Kelley
December 4, 2014
Alert readers will recall that in June this year we set out to explore the merits of applying machine learning technology to stock selection. We went through a process of “training” a learning algorithm called a Support Vector Machine (SVM) to pick stocks, and then in mid-June we asked it to nominate a top 20 and a bottom 20 from the ASX200. continue…
by Tim Kelley Posted in Companies, Investing Education.
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Is Vocus about to light up?
David Buckland
December 1, 2014
Russell and I attended the Vocus Communications Limited (ASX: VOC) Annual General Meeting last week. While the company could not give anything away on their proposed merger with Amcom Telecommunications Limited (ASX: AMM), we continue to be incredibly impressed with the calibre of the Vocus Board of Directors, especially in the context of its $600m market capitalisation.
In the four years to June 2014, the company’s revenue line has increased from $31m to $92m, while its EBITDA has climbed from $10m to $33m. And in the four years to November 2014, the Vocus Communications’ share price has responded in kind by quadrupling from $1.50 to the current $6.00. continue…
by David Buckland Posted in Companies, Insightful Insights, Investing Education, Technology & Telecommunications.
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What’s Next for the Reject Shop?
Roger Montgomery
November 28, 2014
The Reject Shop (ASX: TRS) has previously presented as a compelling investment opportunity but the company has not been a holding of The Montgomery Fund for quite some time.
With the shares down nearly 60 per cent this financial year – an experience we are fortunate to have missed – some investors are asking whether it’s time to wade back in? It is important to keep in mind that a company’s shares are not cheap because the price has merely fallen. If the price falls but the intrinsic value falls even further, there may be no value to be found. continue…
by Roger Montgomery Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
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Seeking better results?
Roger Montgomery
November 27, 2014
SEEK (ASX:SEK) is a top ten holding in both The Montgomery Fund and The Montgomery [Private] Fund so we are pleased to hear, through the company’s latest update, that the business is performing ‘strongly’.
At the AGM today, Chief Executive Andrew Bassat told shareholders to expect guidance for 2015 – outlined in August – to be maintained. continue…
by Roger Montgomery Posted in Companies, Insightful Insights, Technology & Telecommunications.
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Are we ready for Netflix and who might benefit?
Scott Shuttleworth
November 27, 2014
Just the other day we met with two executives from Village Roadshow Limited (ASX: VRL), Graham Burke, Managing Director and Adrian Fernando from investor relations, to discuss some of the trends in their business. It was quite an interesting meeting.
Although it was a bit of speed date – trying to fit in six company meetings in a day – we did spend a reasonable amount of time understanding not only their opportunities for development of theme/water parks in South East Asia, but also on the future of content delivery in Australia. continue…
by Scott Shuttleworth Posted in Companies, Media Companies, Technology & Telecommunications.
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Is Aldi a real threat to Woolworths & Coles?
Russell Muldoon
November 26, 2014
In recent weeks you have probably noticed a dramatic increase in the volatility of Woolworths Limited (ASX:WOW) share price and wondered: what has changed recently? The answer is that something has caused the market to re-think the longer-term prospects of the business.
The detail is found in a very insightful conference call we had recently with the former head of Aldi UK, Paul Foley. continue…
by Russell Muldoon Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
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Joining the NAB Class Action?
Roger Montgomery
November 25, 2014
Because the Federal Court has ruled that NAB is not required to email every account holder, you may not know that you may be entitled to compensation if you have been charged exception fees and join the class action. NAB customers who have been charged exception fees are entitled to join the class action. The window to join re-opens today at www.financialredress.com.au.by Roger Montgomery Posted in Companies, Financial Services.
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What is happening in the retail sector?
Russell Muldoon
November 20, 2014
Asset prices are well-up on just a few years ago. No matter which way you cut the data, both the property and share markets have performed strongly. And so the economic theory goes: that if you feel wealthy, you’ll act wealthy and go out and spend. Exactly what a low interest rate envrionment – the one we are in now – is supposed to encourage.
But unlike past economic cycles, where the wealth effect has translated into the withdrawal of equity to be used on consumption of new furniture or a stereo for example, our listed retailers tell a different picture about the health of the Australian economy.
by Russell Muldoon Posted in Companies, Consumer discretionary, Insightful Insights, Investing Education.
