Insightful Insights
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Sirtex test results: what they mean
Russell Muldoon
May 15, 2014
Longer-term investors in Sirtex Medical Limited (ASX: SRX) might be aware that the business invests heavily – around $60m in recent years – to fund a number of large-scale studies intended to prove the efficacy of their core medical device, SIR-Spheres microspheres (SIRT). The goal is to provide the statistical evidence required to drive earlier adoption globally of their SIRT procedure in the treatment of inoperable liver cancers. continue…
by Russell Muldoon Posted in Companies, Health Care, Insightful Insights.
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Spotlight on: ARB
Scott Shuttleworth
May 13, 2014
ARB Corporation is a well-known small cap company, often quoted as “the stock Warren Buffet would buy”. Today we were lucky enough to hear from the company’s managing director, Roger Brown, whom shared his insights on the company’s current standing and future. A summary of my notes follows: continue…
by Scott Shuttleworth Posted in Companies, Consumer discretionary, Insightful Insights.
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Super Retail Group
Roger Montgomery
May 12, 2014
Super Retail Group (ASX: SUL) owns the Supercheap Auto, Rebel, AMart Sports and BCF branded stores, and has provided a trading update for the 18 weeks to 2 May 2014, a day before the company presents at the Macquarie conference in Sydney. continue…
by Roger Montgomery Posted in Companies, Insightful Insights, Investing Education.
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Long-term value
Ben MacNevin
May 12, 2014
At Montgomery Investment Management, we invite you to invest with us if your investment philosophy is aligned with our own. We might be smaller than we would if adopting an all-things-to-all-people approach but life is short and working with people whose philosophy aligns with ours makes that life a lot more enjoyable. In any event, it takes time for the businesses we acquire to realise value, and discipline is required to maintain confidence in the investment process amidst short-term volatility. With so many people gambling on quick profits, it is perfectly understandable that our approach doesn’t appeal to everyone. Perhaps more intriguingly, our approach is also shared by the management of some of our invested companies and CSL is one of them. continue…
by Ben MacNevin Posted in Insightful Insights, Investing Education.
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It comes with the supply chain
David Buckland
May 9, 2014
Following on from my article on Coca-Cola Amatil’s loss of market share in the Australian soft drink category over recent years, I was interested to read that Rod Sims, Chairman of the Australian Competition and Consumer Commission, has initiated unprecedented proceedings in the Federal Court against Coles after what it alleges is the unconscionable treatment of its suppliers. continue…
by David Buckland Posted in Consumer discretionary, Insightful Insights, Value.able.
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China Watch
Roger Montgomery
May 9, 2014
In February 2014, Robert Brusca, Chief Economist of FAO Economics, was quoted as saying: “U.S. imports are weak. And imports are closely linked to GDP. Weak imports suggest that there will be more weak GDP reports to come. That is bad news and it is the kind of bad news that trumps the good news”. continue…
by Roger Montgomery Posted in Economics, Energy / Resources, Insightful Insights.
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Lease Peace
Ben MacNevin
May 8, 2014
Having purchased McMillan Shakespeare (ASX: MMS) shares at $7.25 after Kevin Rudd’s comments, we’ve written extensively about the investment case (see here, here and here). Since then, we have also written about our expectations that changes to novated leasing are unlikely to feature in the coming budget. The market doesn’t seem to share our view, with the share price of McMillan Shakespeare reflecting material risk to the downside. continue…
by Ben MacNevin Posted in Companies, Insightful Insights.
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Childcare bidding
Ben MacNevin
May 7, 2014
Further to our post on G8 Education’s multicurrency debt programme, it’s worth noting that their newly listed competitor Affinity (ASX: AFJ) also made a sizeable increase in its debt facility the week before. continue…
by Ben MacNevin Posted in Companies, Insightful Insights, Montgomery News and Updates.
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A Bachelian view of the markets
Scott Shuttleworth
May 6, 2014
In 1900, a young mathematician named Louis Bachelier wrote a groundbreaking thesis, Théorie de la Spéculation, in which he outlined a case for modelling the financial markets under a condition of randomness. continue…
by Scott Shuttleworth Posted in Insightful Insights.
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GEM’s Multicurrency Debt Programme
Roger Montgomery
May 5, 2014
G8 Education (ASX: GEM) have just announced a multicurrency debt issuance programme to issue $500m of notes, denominated in any currency agreed between G8 and any dealer. continue…
by Roger Montgomery Posted in Companies, Insightful Insights.
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