Insightful Insights

Perhaps I’m dropping the cat amongst the pigeons, poking a hornet’s nest or even releasing the hounds by talking about executive compensation, but a study conducted by recruitment firm Equilar, and reported in Bloomberg Businessweek by Eric Chemi and Ariana Giorgi, convincingly demonstrates there is little relationship between executive salaries and stock holder returns. continue…

by Scott Shuttleworth Posted in Insightful Insights.

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You’ve got to give full marks for effort, and love the enduring ability of some people in our industry to come up with reasons for you to trade. I couldn’t contain myself when I read late last week, one pundit’s arguments for “rotating” out of banks and into resources. continue…

by Roger Montgomery Posted in Insightful Insights.

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The other day, we ran ‘the screen’: a quantitative tool we use from time to time (and we employ a number of them at Montgomery) in an attempt to rank the market based on the relative valuations of industry groups.

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by Russell Muldoon Posted in Insightful Insights.

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At Montgomery, we spend quite a bit of time talking to broking analysts to try to deepen our understanding of industry dynamics. Sometimes we get a good return on that investment of time, and this was the case recently when we sat down with UBS to talk about banks. continue…

by Tim Kelley Posted in Financial Services, Insightful Insights.

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Cochlear Ltd (ASX: COH) released its 2014 full-year financial results on Tuesday. The market reacted favourably to the result, largely due to the considerable increase in revenues from the first half of 2014 to the second half of 2014. However, we remain cautious about the company’s prospects for two reasons. continue…

by Ben MacNevin Posted in Companies, Insightful Insights, Value.able.

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With the equity markets showing some signs of volatility recently, and several commentators starting to flag the possibility of a pullback, we thought it may be timely to revisit our stance on valuation and portfolio composition. continue…

by Tim Kelley Posted in Insightful Insights, Market Valuation.

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At the recent American Society of Clinical Oncology (ASCO) Annual Meeting, Dr Andrew Kennedy was interviewed on his thoughts regarding the application of Sirtex Medical’s SIR-Spheres microspheres. continue…

by David Buckland Posted in Health Care, Insightful Insights.

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That is the question. And it’s one that many companies and investors are able to reconsider as a result of the launch of ASX BookBuild (ABB). The process breakdown of the tool used by brokers and investment banks can be found here. continue…

by Scott Shuttleworth Posted in Insightful Insights.

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On Friday morning, the local share market reacted negatively to overseas developments. I took this as an opportunity to screen the market in search of industry groups that offer attractive relative valuations, in order to focus on a few ideas for our research team to investigate. continue…

by Russell Muldoon Posted in Companies, Insightful Insights, Market Valuation.

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We have been delving through a lot of prospectuses lately to try to understand what’s really going on behind the accounting numbers. In a philosophical moment, we were moved to summarise one of the key messages in haiku form… continue…

by Tim Kelley Posted in Insightful Insights.

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