Companies
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Looking for intrinsic value
Tim Kelley
March 7, 2014
These are trying times for value investors. There’s nothing we enjoy more than finding a high quality business trading at a discount to its intrinsic value, but lately, they seem to be thin on the ground. continue…
by Tim Kelley Posted in Companies, Technology & Telecommunications.
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Reporting season wrap-up
Russell Muldoon
March 5, 2014
Over the past three weeks, our investment team has analysed each and every single report announced to the Australian stock market. We’ve prioritised those businesses we own to gather new information that’ll help us determine if our view (for better or worse) on their future outlooks has changed, and whether their removal from, or addition to, our portfolio is warranted. continue…
by Russell Muldoon Posted in Companies, Insightful Insights.
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Is $1.00+ unreasonable for BigAir?
Russell Muldoon
February 28, 2014
When BigAir Group Limited (ASX:BGL) was trading in the low $0.70 range back in September last year, we asked a relatively simple question: was $0.80+ unreasonable for BGL? Our thoughts at the time can be found here. continue…
by Russell Muldoon Posted in Companies, Technology & Telecommunications.
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Ensure your tray tables are stowed!
Roger Montgomery
February 27, 2014
Qantas’ half-yearly ‘loss’ announcement today revealed a business in crisis. Fuel costs surged to a record level for any half-year period (there goes the hoped-for benefits of new, more efficient aircraft), intense competition, unfavourable currency movements and falling demand, have all been offered as reasons for the poor showing. In reality, however, the real reason for the poor result is that this is an airline. continue…
by Roger Montgomery Posted in Airlines, Companies.
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A Cause for Concern?
Ben MacNevin
February 26, 2014
InvoCare (ASX: IVC) owns and operates funeral homes, cemeteries and crematoria in Australia, New Zealand and Singapore. Over the past decade, the company has grown their net profit after tax by 16 per cent each year. However, in the year to December 2013, InvoCare recorded a flat net profit after tax at $42.5m.
by Ben MacNevin Posted in Companies, Health Care, Insightful Insights.
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Reporting Season’s Winners and Losers
Roger Montgomery
February 25, 2014
As the current reporting season draws to a close, we’ve come up with our list of the market’s best (and, by default, less-than-best) performers.by Roger Montgomery Posted in Companies.
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An Australian World-Beater
Tim Kelley
February 24, 2014
Infomedia (ASX:IFM) is small and not very liquid. Stockbrokers dislike illiquidity, so it doesn’t receive a lot of analyst coverage, and many people may not have heard of it. continue…
by Tim Kelley Posted in Companies, Technology & Telecommunications.
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Reporting Season Avalanche
Roger Montgomery
February 21, 2014
After a little digging, we were impressed by the results of both Challenger Limited (CGF) and G8 Education Limited (GEM). Below follow a few points on each business (both of which are in the top ten holdings of either or both The Montgomery Fund and The Montgomery [Private] Fund). continue…
by Roger Montgomery Posted in Companies, Financial Services.
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The Capital and Exploration Expenditure Cut – It’s Only Just Begun!
Ben MacNevin
February 20, 2014
Shareholders of Rio Tinto (ASX:RIO) and BHP Billiton (ASX:BHP), the world’s largest mining companies, have been pleased with their recently released profit announcements. Yet, upon closer inspection, shareholders of some mining services companies may not be pleased. continue…
by Ben MacNevin Posted in Companies, Energy / Resources.
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SEEK: Topping the list of list providers
Russell Muldoon
February 19, 2014
Continuing on from our recent blog post on Australia’s best listed-list providers, specifically Carsales.com.au (CRZ), Domino’s Pizza Limited (DMP) and REA Group Ltd (REA) – or realestate.com.au – in what is arguably the standout result in this reporting season, Seek.com.au (SEK) has produced an outstanding update with impressive growth numbers reported across the board.
Naturally, given SEK holds the second largest position in both The Montgomery Fund and The Montgomery [Private] Fund, this is something we are very pleased to see. Below you will find some of our preliminary notes after skimming through their half-year report. continue…
by Russell Muldoon Posted in Companies, Insightful Insights.
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