Editor’s Pick
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The Montgomery Fund’s investment thesis in Treasury Wine Estates
Roger Montgomery
October 18, 2022
As part of Montgomery’s transition with Australian Eagle Asset Management, one of the new companies in The Montgomery Fund and The Montgomery [Private] Fund is Treasury Wine Estates (ASX:TWE). Here I’d share a high-level overview of the thesis for the inclusion of Treasury Wine Estates in the portfolios. continue…
by Roger Montgomery Posted in Companies, Editor's Pick, Stocks We Like.
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Why I think inflation is heading in the right direction
Roger Montgomery
October 12, 2022
With stocks on the rocks, everyone I bump into understandably wants to know if it’s a good time to buy equities – the lure of buying at the bottom is just too great for many to resist. Of course, I don’t have a crystal ball, but there are signs that inflation is heading in the right direction. And, if central banks stop hiking rates, then I think conditions could be ripe for the market to rebound. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Three scenarios that could kickstart a new bull market
Roger Montgomery
October 10, 2022
As you’ve no doubt noticed, the world’s market commentators, brokers and analysts have turned decidedly bearish. And they have good reason to be pessimistic. But this bear market will eventually end, to be followed by the next bull market. To my mind, there are three distinct economic scenarios that could kickstart the next upswing. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Aura Group’s private credit track record
Roger Montgomery
October 7, 2022
In this video, Brett Craig and Roger Montgomery discuss why private credit has been the preserve of high-net-worth investors, and why the banks pulled away from lending small amounts over the short term to small and medium businesses. Brett also reveals the Aura team’s track record in private credit through disruptive markets, how they navigate rising interest rates and the types of businesses for which they provide lending. continue…
by Roger Montgomery Posted in Aura Group, Editor's Pick, Video Insights.
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Focus on inflation if you want to profit from market volatility
Roger Montgomery
September 28, 2022
Global markets are clearly spooked by the U.S. Federal Reserve pushing up interest rates in order to rein in inflation. But fear not. Because inflation is always followed by disinflation. And research shows that shares do very well in a disinflationary environment. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Reporting season in review – a small companies perspective
Michael Gollagher
September 27, 2022
Leading into reporting season this year, it felt more critical than usual from an investor’s perspective. This was driven mainly by the ever-changing macro backdrop which at this point in time could be argued is driving share prices more so than company fundamentals. continue…
by Michael Gollagher Posted in Companies, Editor's Pick, Stocks We Like.
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Why the risk-reward ratio is looking good for quality small caps
Roger Montgomery
September 23, 2022
Since January, world markets have been selling off. As a result, a number of quality small cap businesses are now trading at very attractive multiples. Is now a good time to invest in quality small caps? continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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What three billionaire investors think the future holds
Roger Montgomery
September 21, 2022
In a recent podcast, famed U.S. investor Howard Marks noted that “there are no facts about the future, just opinions.” But that truism hasn’t stopped three of his fellow billionaires – Bill Ackman, Stanley Druckenmiller and Ray Dalio – airing their views on the prospects for the global economy and investment returns. continue…
by Roger Montgomery Posted in Editor's Pick, Investing Education, Market commentary.
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A look at The Montgomery Fund’s future
Roger Montgomery
September 15, 2022
With Sean, Alan and Dan, from Australian Eagle, having now planted their feet firmly under the desks here at the Montgomery offices in Castlereagh Street, I thought it was time I share some more of the reasoning behind our partnership. continue…
by Roger Montgomery Posted in Editor's Pick, Montgomery News and Updates.
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Why we are underweight consumer discretionary companies?
Roger Montgomery
September 12, 2022
There are no doubts some extraordinary businesses exist in the Australian consumer discretionary sector. Names like ARB, Nick Scali, JB Hi-Fi and Lovisa jump to mind as soon as talk turns to the consumer. But as we examine the shape of our portfolios, one glaring active weight is the underweighting we have to consumer discretionary companies. continue…
by Roger Montgomery Posted in Companies, Consumer discretionary, Editor's Pick.