Financial Services
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Legacy point of sale providers are the walking dead
Roger Montgomery
July 14, 2023
I think investors in businesses that generate meaningful revenue from point-of-sale hardware terminals (EFTPOS terminals) are sleepwalking towards their own financial cliff. And my reading of some of the broker research notes, covering the relevant companies, tells me the market doesn’t understand the implications. There is therefore much more downside ahead for these businesses. continue…
by Roger Montgomery Posted in Companies, Consumer discretionary, Editor's Pick, Financial Services.
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How much more financial pressure can Australian mortgagees take?
Sean Sequeira
May 30, 2023
Talk to anyone on the street these days and the conversation will inevitably turn to how inflation is increasing their cost of living in some form or another. Inflation has risen steadily since the beginning of 2022 despite the determined efforts of Reserve Bank of Australia (RBA) to bring it back towards its target range of 2-3 per cent. continue…
by Sean Sequeira Posted in Companies, Financial Services.
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Why Australian Eagle invested in AMP
Sean Sequeira
May 11, 2023
Back in the 1960s, AMP Limited (ASX:AMP) built the tallest building in Australia, with magnificent views over Sydney harbour. It was a symbol of the firm’s dominant place within the local financial sector. Fast forward 60 years, and AMP is a shadow of its former self, and its share price has suffered accordingly – down 91 per cent since listing in 1998. Subsequent to its fall from grace, Australian Eagle identified certain factors which gave the company the chance to evolve and if successful, continue to play a big part in the financial services industry. continue…
by Sean Sequeira Posted in Companies, Editor's Pick, Financial Services, Stocks We Like.
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Another U.S. Bank fails overnight. Now it’s three.
Roger Montgomery
March 13, 2023
Everyone’s talking about the collapse of Silicon Valley Bank (SVB) – the largest bank failure since the global financial crisis – and debating whether it’s the start of another financial crisis. There’s Bill Ackman on one side of the Twitterverse, suggesting more banks will collapse like dominos, while on the other side, there’s U.S. President Joe Biden, who points to the safeguards introduced after the global financial crisis to stop another financial crisis from occurring again. continue…
by Roger Montgomery Posted in Editor's Pick, Financial Services, Global markets.
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A review of the Australian financial planning landscape in 2022
Dean Curnow
December 1, 2022
When I last updated our readership on the financial planning landscape in Australia, the number of registered advisers at the end of 2021 was down 11 per cent for the calendar year and total adviser numbers were just under 19,000 at the time. Fast forward to 30 September 2022, and the rolling 12 month fall in adviser numbers has increased to 14 per cent with total adviser numbers now around 16,500 as captured in the graph below. continue…
by Dean Curnow Posted in Financial Services.
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Why we view Commonwealth Bank as the highest quality of the big four banks
Sean Sequeira
November 25, 2022
At Australian Eagle, the external environment is not something we can control but it is something we do pay attention to. It plays a part in our investment thesis on stocks and will always be an important consideration in terms of our assessment of the quality of a company. However, the investment team tends to focus more on the inherent fundamentals of stocks especially those involving factors under management’s control. continue…
by Sean Sequeira Posted in Companies, Financial Services, Stocks We Like.
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Why Macquarie Group is a high conviction position in The Montgomery Fund
Sean Sequeira
November 17, 2022
Both Australian Eagle and Montgomery have had a position in Macquarie Group (ASX:MQG) for some time. The positive view on the company would seem obvious given the heavy emphasis on first identifying quality businesses in both Australian Eagle’s and Montgomery’s investment process. continue…
by Sean Sequeira Posted in Companies, Editor's Pick, Financial Services, Stocks We Like.
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Fintech SME lending in Australia
Brett Craig
September 13, 2022
Fintech-based lenders have emerged since the introduction of the peer-to-peer platform Zopa in the United Kingdom in 2005. Fintech lenders aim to reduce friction in the borrowing process for their customers, reducing the turnaround time from application to funding and offer products which best suit the borrowing needs of the customer. continue…
by Brett Craig Posted in Aura Group, Financial Services.
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What accelerating business loan book growth means for the banks
Stuart Jackson
June 7, 2022
The Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA) released lending and deposit statistics for April last week. The data shows a continuation of the acceleration in loan book growth, which is now running at its highest level since 2008. continue…
by Stuart Jackson Posted in Companies, Financial Services.
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RBNZ – fifth tightening since October 2021: 0.25 per cent to 2.0 per cent
David Buckland
May 26, 2022
As I have detailed previously, the Reserve Bank of New Zealand (RBNZ) has been relatively pro-active in its tightening cycle, commencing on 6 October 2021 and taking their official cash rate from 0.25 per cent to 2.0 per cent. continue…
by David Buckland Posted in Economics, Financial Services.
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