Financial Services
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Are you throwing the baby out with the bathwater?
Roger Montgomery
December 22, 2014
As we start to turn our minds to a well-earned break, we cannot help to ponder what the year ahead might unearth and whether we’ll find something useful and attractive that others have thrown out.
What we know today however, is that Materials and Energy stocks are under the pump from rising supply and falling demand. Some of them, along with those in the mining services game, will shutter operations or go broke – don’t forget there are over 700 mining services companies in Australia and 90 per cent of them are unlisted. Given that China is forecast by the US Conference Board to be growing at only 5.5 per cent in the next few years and by 3.5 per cent in the years to 2025, it is difficult to see any rapid turn around in the economics of materials exploration, mining and production. continue…
by Roger Montgomery Posted in Consumer discretionary, Energy / Resources, Financial Services.
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IS CASH DEAD FOR GOOD?
Roger Montgomery
December 3, 2014
DEC 3, 2014: According to Finsia “competition from new technology and growing customer demands have seen 12 financial services organisations team up to back a world-leading, real-time payments solution for Australia.
The New Payments Platform (NPP) marked a milestone on December 2, 2014 when the Society for Worldwide Interbank Financial Telecommunication (SWIFT) was unveiled as NPP Australia’s chosen platform builder and operator. continue…
by Roger Montgomery Posted in Financial Services, Insightful Insights, Technology & Telecommunications.
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Joining the NAB Class Action?
Roger Montgomery
November 25, 2014
Because the Federal Court has ruled that NAB is not required to email every account holder, you may not know that you may be entitled to compensation if you have been charged exception fees and join the class action. NAB customers who have been charged exception fees are entitled to join the class action. The window to join re-opens today at www.financialredress.com.au.by Roger Montgomery Posted in Companies, Financial Services.
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Good news this week for two Montgomery holdings
Roger Montgomery
November 14, 2014
Firstly, Seek Limited (ASX:SEK) subsidiary Zhaopin Limited (NYSE:ZPIN) received a boost when it reported 3Q14 revenue growth of 32 per cent year-on-year (YOY); and EBITDA growth of 34 per cent YOY.
We will be investigating why the unaudited result was so strong given the company had been growing at around 11 per cent YOY; and Zhaopin’s key competitor, JOBS, reported 3Q14 revenue growth of just 13 per cent YOY. The result, which was reported under A-IFRS (Australian Accounting standards), will differ to the results prepared under GAAP for its US listing. continue…
by Roger Montgomery Posted in Financial Services, Insightful Insights, Investing Education, Technology & Telecommunications, Value.able.
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AFR: Just how good are our banks
David Buckland
November 13, 2014
The Australian Financial Review’s Jeremy Chunn published an excellent piece this week taking a look at the major banks. With full-year results for three of the four major banks delivered in the past two weeks, Jeremy asked five professional investors for their outlook on the sector. This included a London-based analyst for perspective on the value of Australian banks relative to international peers.
The Montgomery team has generated meaningful insights from our research and analysis of the banking space and the impact of the changes emanating from the Financial System Inquiry. Read the article to below to find out which bank is the stand out pick in an industry facing increasing challenges.
Click here to read the article on the AFR’s site.
Please note, you may need to be an AFR subscriber to view this article.
by David Buckland Posted in Companies, Financial Services, Insightful Insights, Montgomery News and Updates.
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Stress Testing The Banks
David Buckland
November 12, 2014
Wayne Byres, Chairman of Australian Prudential Regulation Authority (APRA) recently made a mockery of the Banks’ self-administered stress tests. continue…
by David Buckland Posted in Companies, Financial Services, Insightful Insights, Montgomery News and Updates.
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Bubble Watch #17 – The Red pill or the Blue pill?
Roger Montgomery
November 5, 2014
Some times you just wake up with a clear view of our current condition. I think my friend Chris Joye, a columnist for the The Australian Financial Review and a director at YBR Funds Management, might be feeling a little like Neo did in the movie The Matrix, when he woke up to see reality for the first time.
In his article today, Why Capitalism Is Not Doing Its Job, Chris makes the observation:
“There is absolutely a role for governments to vouchsafe a minimum level of liquidity when markets temporarily shut tight in crises. I argued this in March 2008 apropos the securitisation market, which the government ended up (very) profitably supporting with $15 billion. continue…
by Roger Montgomery Posted in Financial Services, Insightful Insights, Value.able.
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The Financial System Inquiry
David Buckland
November 5, 2014
I sat next to David Murray AO, Chairman of the Financial Services Inquiry (FSI), at a breakfast meeting yesterday and I understand his final report is scheduled for presentation to Treasurer Hockey before the end of the month.
David is a quiet and very thoughtful guy and with a chuckle he said, “I have been trying to leak the recommendations of the FSI but no one seems to be listening”. continue…
by David Buckland Posted in Companies, Financial Services, Insightful Insights, Value.able.
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Bubble Watch #16: Risk Corruption
Roger Montgomery
October 30, 2014
Nearly five years ago – in January 2010 – the five-year bank bill swap rate was 5.915 per cent. Westpac was offering five-year term deposits at 8 per cent for sums from $5,000 to $5 million with interest paid annually. The Commonwealth Bank and the NAB were paying 6.75 per cent for sums up to $500,000, while Bankwest offered 7.1 per cent. continue…
by Roger Montgomery Posted in Financial Services, Insightful Insights.
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Never too big to fail…
Roger Montgomery
October 28, 2014
Last week we spent some time reporting on our thoughts regarding the Financial System Inquiry and our interpretation of the submissions we’d read, as well as the possible impact on the competitive landscape for the big banks and their smaller, regional, would-be rivals… continue…
by Roger Montgomery Posted in Financial Services, Market commentary.
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