Feature Article
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10 lessons from the FY26 reporting season
Roger Montgomery
September 3, 2026
The Financial Year 2026 (FY26) reporting season has concluded with corporate Australia in considerably better shape than many had feared.
Before getting too excited, however, it’s worth noting corporate Australia may not be in as good shape as the headline numbers suggest.
Aggregate profits rose by around 11.6 per cent. Excluding mining and energy, however, the increase was just 5.3 per cent. Only 36 per cent of companies beat earnings expectations, below the historical average of about 40 per cent. Meanwhile, analysts have been cutting FY27 forecasts. continue…
by Roger Montgomery Posted in Companies, Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Market commentary, Market Valuation, Small Caps, Stocks We Like.
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MEDIA
Fear + Greed Podcast Q&A – 10 lessons for investors from reporting season
Roger Montgomery
September 1, 2026
Australia’s FY26 reporting season looked reasonably strong on the surface, with aggregate profits rising by around 11.6 per cent. But underneath the headline numbers, the recovery was much narrower – and investors were often more interested in what companies said about FY27 than the profits they had just reported.
I speak with Michael Thompson from Fear + Greed, about my 10 lessons from reporting season. We discuss why consumers are still spending but demanding value, expensive bank valuations, the limits of cost-cutting, opportunities in healthcare and why stock selection is becoming increasingly important. continue…by Roger Montgomery Posted in Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Market commentary, Market Valuation, Podcast Channel, Popular.
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SkinKandy’s FY26 maiden result
Roger Montgomery
August 27, 2026
SkinKandy (ASX: SK1) is Australia and New Zealand’s self-proclaimed leading specialty piercing and body jewellery retailer. Operating a ‘service-led retail model,’ the company delivers over 60 distinct types of professional body and ear piercings alongside a range of high-margin jewellery and specialised aftercare products. continue…
by Roger Montgomery Posted in Companies, Consumer discretionary, Editor's Pick, Feature Article, Market commentary, Market Valuation, Small Caps, Stocks We Like.
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What did Coles bring to the checkout in FY26?
Roger Montgomery
August 27, 2026
Supermarket giant Coles Group released its FY26 full-year earnings this week, delivering metrics that were modestly ahead of market expectations.
Despite persistent cost-of-living pressures facing Australian households, the company reported solid execution, robust supermarket growth, and strong efficiency measures.
Initial market excitement, however, is being tempered by an elevated capital expenditure outlook and a softer-than-expected early trading update for FY27.
Consequently, investors will weigh the solid historical performance against near-term cash-flow headwinds and competitive threats. continue…
by Roger Montgomery Posted in Companies, Consumer discretionary, Editor's Pick, Feature Article, Market commentary, Market Valuation, Popular.
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Why Computershare caught our attention
Sean Sequeira
August 26, 2026
In this video, I discuss Computershare (ASX: CPU), a global provider of share registry and shareholder administration services, and why it caught our attention during the year. I explain how the company’s decision to sell lower-returning businesses and refocus on its core operations has improved the quality of the business, while a significant fall in the share price presented a more attractive valuation. Together, these factors led us to establish a position in Computershare. continue…
by Sean Sequeira Posted in Companies, Editor's Pick, Feature Article, Financial Services, Insightful Insights, Manufacturing, Market commentary, Market Valuation, Stocks We Like, Video Insights.
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WHITEPAPER
THE PROPERTY RUG PULL
Discover how proposed changes to negative gearing, Capital Gains Tax and holiday home tax rules could reshape property investing, and why investors may consider private credit as property returns become less certain and tax advantages diminish.
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Market state of play – and what to do
Roger Montgomery
August 25, 2026
Well into the penultimate quarter of the calendar year, institutional and private investors face the paradox that record infrastructure capital expenditure, particularly by AI hyperscalers, coexists with heightened geopolitical risk, sticky inflation, and an apparent structural shift to the relationship between equities and bonds.
And if institutions are changing their asset allocations to reflect these shifts, should private investors do the same? continue…
by Roger Montgomery Posted in Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education.
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Turning the page from Fiscal 2026 to Fiscal 2027
David Buckland
July 2, 2026
As we begin Fiscal 2027, it is worth taking a step back to reflect on the major themes that shaped global markets over the past year. I explore the key developments across equities, bonds, interest rates, commodities and currencies, and consider what they may mean for investors going forward.
From Magnificent Seven to Memory Seven
In the three calendar years 2023-2025, the Magnificent Seven (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla), rose by an average 333 per cent, turning $1.00 into $4.33.
That strong upward trajectory came to an end in the six months to June 2026, with an average decline of 2 per cent. With Microsoft (-23 per cent),Meta (-15 per cent) and Tesla (-6 per cent) leading the fall.
The baton has been passed to the “Memory” sector with an average 419 per cent capital appreciation across seven companies in six months to June 2026 being reported, namely: SanDisk (+858 per cent), Kioxia (+759 per cent), Micron Technology (+304 per cent), SK Hynix (+305 per cent), Intel (+278 per cent), Marvell Technology (+251 per cent) and Samsung (+177 per cent). continue…by David Buckland Posted in Companies, Economics, Editor's Pick, Feature Article, Financial Services, Global markets, Insightful Insights, Investing Education, Market commentary, Popular, Property.
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Navigating the new tax landscape – The shift from capital growth to income yield and the case for private credit
Roger Montgomery
June 22, 2026
The Federal Labor Government’s 2026-27 Budget tax reform package represents the most sweeping overhaul of Australia’s investment tax landscape in nearly three decades. By winding back the traditional pillars of wealth creation – specifically the 50 per cent Capital Gains Tax (CGT) discount and negative gearing on established residential property – the government has fundamentally altered the math of investing.
While today’s major policy concessions (including exemptions for testamentary trusts and a step back from sweeping ministerial discretionary powers) provide some targeted relief, the core framework remains intact.
The clear takeaway for investors is a systemic structural shift: the traditional focus on heavily leveraged capital growth has been severely compromised, making high-yielding income generation far more appealing. continue…
by Roger Montgomery Posted in Aura Group, Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Popular, Property.
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The 2026 Federal Budget – insights for investors
David Buckland
May 13, 2026
The 2026 Federal Budget has landed with some significant implications for investors.
I discuss the key economic indicators and the tax changes that are set to reshape the investment landscape.Economy
The starting point is to expect higher global inflation and lower growth with the scale of impact dependent on the length and severity of the U.S./Iran war.
Growth in Australia is expected to slow to 1.75 per cent in 2026/2027.
Real wages are expected to go backwards again, which means living standards are expected to decline. continue…
by David Buckland Posted in Economics, Editor's Pick, Feature Article, Financial Services, Insightful Insights, Investing Education, Market commentary, Popular.
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The world is volatile. Your financial future doesn’t have to be.
Roger Montgomery
August 11, 2025
Investors have faced wave after wave of uncertainty – from fluctuating interest rates, persistent inflation and more recently, volatility driven by U.S. President Trump, Xi Jinping and Vladimir Putin.
While we can’t control these events, we can control where we invest.
That’s why we’ve launched a national campaign, developed with creative agency Mahlab, to spread awareness of the benefits of astutely managed private credit. continue…
by Roger Montgomery Posted in Aura Group, Feature Article, Montgomery News and Updates, Popular.
