Editor’s Pick
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Would you like P/Es with that?
Roger Montgomery
June 17, 2022
Recently I penned a post proposing the importance of investing in quality companies with solid growth prospects. The suggestion is based simply on rather basic arithmetic; buy and sell shares on the same (now compressed Price to Earnings Ratio) and the investors Internal Rate of Return (IRR) will equal the Earnings Per Share (EPS) growth rate the company achieves. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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A Tale of two market machines
Polen Capital
June 15, 2022
While several factors can affect stock prices, Polen Capital believe long-term returns are ultimately driven by sustainable earnings growth. continue…
by Polen Capital Posted in Editor's Pick, Polen Capital.
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A forecast slowdown is not a recession
Roger Montgomery
June 6, 2022
Most economists are forecasting a domestic and global economic slowdown. According to the UCLA Anderson Forecast, economic obstacles, including the Russia–Ukraine war, China’s COVID lockdowns, supply chain bottlenecks and labor shortages, and the consequent inflationary pressures on both finished goods and raw materials are well known, and in some cases becoming entrenched. continue…
by Roger Montgomery Posted in Editor's Pick, Global markets, Market commentary.
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Price and Value are two different things – just ask Canva investors
Roger Montgomery
June 3, 2022
With the share prices of tech stocks having cratered in recent months, there are perhaps few more opportune times than now to revisit the important difference between Price and Value. It may surprise investors that every business has a real worth or a true value that may bear no resemblance to the currently traded price. continue…
by Roger Montgomery Posted in Editor's Pick, Investing Education.
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From Private Equity to Zombie – The ABC of capitalism
Roger Montgomery
June 2, 2022
We have long been critics of the profitless prosperity doctrine that pervaded financial markets while money was free. The doctrine permitted companies with no profit, and no prospect of making any, to invest private equity and family office money in the pursuit of gaining market share. Often this was achieved by crushing old-world incumbents into submission, if not oblivion. continue…
by Roger Montgomery Posted in Companies, Editor's Pick.
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WHITEPAPER
INTEREST RATES, THE BEST IT GETS. IT’S TIME TO DEPLOY CASH
Curious about the investment landscape in 2024? It appears that the current market offers a plethora of enticing opportunities for investors, a rarity not experienced since pre-pandemic times. This unique scenario stems from a confluence of factors, including elevated yields and comparatively rational equity valuations.
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With markets falling, is it safe to invest again?
Roger Montgomery
May 25, 2022
In the famed 1970s thriller, Marathon Man, Nazi dentist Dr Christian Szell – who is looking for a stash of stolen diamonds – repeatedly asks the character played by Dustin Hoffman “Is it safe?” Right now, many people are likely asking the same question about investing in the share market. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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If Buffett is buying, should I?
Roger Montgomery
May 24, 2022
Equity markets have borne the brunt of investor panic. Rising interest rates, the biggest bond market rout since the 80s, persistent inflation from labour shortages and consequent supply chain constipation, as well as an entrenched military conflict in Ukraine, lockdowns in China, and finally an admission from the U.S. Federal Reserve they took too long to commencing reversing hyper-accommodative monetary policy is all but a pile-on for investors desperately seeking returns above the punitive rates offered by cash. continue…
by Roger Montgomery Posted in Editor's Pick, Global markets.
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Where to invest if the economy heads for a hard landing
Roger Montgomery
May 20, 2022
Right now, there’s no shortage of pessimistic forecasts for the U.S. economy. You need only look at recent reports from the likes of Morgan Stanley, Goldman Sachs and JP Morgan. These bleak forecasts have many U.S. investors talking up the probability of a bear market in equities. In this environment, careful stock selection will be more important than ever. continue…
by Roger Montgomery Posted in Editor's Pick, Global markets, Market commentary.
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Why every setback is accompanied by a different narrative
Roger Montgomery
May 16, 2022
In this week’s video insight Roger discusses why setbacks are a necessary part of investing, especially for those keen to realise better returns. Remembering that the lower the price you pay, the higher your returns, it makes sense that we should welcome market pullbacks. Eventually, there will be an end to rising interest rates and eventually, inflation will peak. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary, Video Insights.
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What Toyota’s update tells us about supply chain disruptions
Roger Montgomery
May 12, 2022
We’ve all heard stories about new-car buyers waiting months for some in-demand models, not to mention the incredible spike in used-car prices. The same factors are behind both issues: supply chain disruptions that are plaguing most carmakers and original equipment manufacturers (OEMs). Recent reports by Toyota and Polaris paint a picture of these disruptions, and how long we can expect them to play out. continue…
by Roger Montgomery Posted in Consumer discretionary, Editor's Pick.
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