Insightful Insights
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Dick Smith prospectus failed to disclose
Roger Montgomery
March 7, 2016
We have watched from the sidelines, with interest, the commentary surrounding the collapse of Dick Smith (ASX:DSH). continue…
by Roger Montgomery Posted in Consumer discretionary, Insightful Insights.
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The Sputnik adrift
Roger Montgomery
March 7, 2016
Last year my friend Ashley Owen demonstrated that there is no observable relationship over any one-year period between economic growth rates and share market performance. So macro economics doesn’t form part of our investment process. Microeconomics however is a different thing altogether and the trends and structural changes in an industry or sector of an economy are vitally important to the companies therein. continue…
by Roger Montgomery Posted in Insightful Insights.
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The people behind the process
Scott Phillips
March 4, 2016
Continuing my ongoing series of interviews with Montgomery investment staff, where I lift the lid and see what makes the people behind the process, the blog posts and the impressive numbers tick. I catch up to George Hadjia, Analyst for the Montgomery Global Fund and the Montaka Global Fund. continue…
by Scott Phillips Posted in Insightful Insights.
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Earnings expectations
Russell Muldoon
March 3, 2016
If you are a close observer of the share market and the subsequent release of material information such as half-year and full-year reports, you may be perplexed to see a stock price fall after the company increased or even delivered record earnings, or conversely, similarly confused as to why a stocks price would jump after the company announces earnings that decreased producing an ugly set of results? continue…
by Russell Muldoon Posted in Insightful Insights.
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Data vs Anecdote
Tim Kelley
March 2, 2016
In my view, the role of chance in equity investing is one of the most important concepts a successful investor needs to grasp. It’s also one that pretty much everyone seems to forget – sometimes even seasoned investment professionals. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education.
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Declining profit estimates for the S&P 500
David Buckland
March 1, 2016
Profits for the S&P 500 companies, according to Thompson Reuters, declined by 3.5 per cent in the December 2015 Quarter relative to the December 2014 Quarter. The 30 per cent decline in the oil price over those two periods, from US$53/ bbl to US$37/bbl, lead to a 75 per cent collapse in energy companies’ profitability. continue…
by David Buckland Posted in Insightful Insights.
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Great results for Vocus Communications
Scott Shuttleworth
February 29, 2016
Vocus Communications Limited (ASX: VOC) reported its half year results last Friday. Those who have kept track of the firm will recall it’s medley of acquisitions over the past year. Vocus is now essentially 5 businesses in one (Vocus, Amcom, FX Networks, M2 Telecommunications & Call Plus). continue…
by Scott Shuttleworth Posted in Insightful Insights.
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Can you trust a progressive dividend policy?
David Buckland
February 26, 2016
With the release of their interim results for the half year to 31 December 2015, the Board of Directors at BHP Billiton Limited suddenly realised they weren’t overseeing a toll road business, which typically raises its prices by a few per cent per annum, and finally disbanded their “progressive dividend policy”. After paying out US$0.62 per half-year in each of September 2014, March 2015 and September 2015, BHP’s upcoming interim dividend has been cut 74 per cent to US$0.16 per share. continue…
by David Buckland Posted in Energy / Resources, Insightful Insights.
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How did industry super fare in 2015?
Scott Phillips
February 25, 2016
Many keen tennis fans who watched the free-to-air coverage of the Australian Open this year would have undoubtedly seen the in-game advertising by Industry SuperFunds Australia. The advertising compared the two players on court performance at the completion of the set. It was usually accompanied by a commentator causally trying to work the phrase ‘compare the pair‘ into their analysis of the game, and an Industry SuperFunds Australia logo would also appear on screen (some may have found it to be the perfect time to take a bathroom break). continue…
by Scott Phillips Posted in Insightful Insights, Investing Education.
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Testing Times in Pathology
Ben MacNevin
February 25, 2016
Pathology businesses with extensive scale have attractive economics but their value is tempered by the power of a dominant payer. With tension between the Government and the listed Pathology providers set to intensify, we are watching the developments with keen interest. continue…
by Ben MacNevin Posted in Health Care, Insightful Insights.
