Insightful Insights
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Sector Sentiment
Ben MacNevin
February 5, 2014
Analysts weren’t expecting a bumper Christmas period; the general expectation was for relatively steady sales growth to finish the year. However, sentiment in the retail sector has taken a negative turn after disappointing trading updates from key retailers. Should this be cause for concern? continue…
by Ben MacNevin Posted in Consumer discretionary, Insightful Insights.
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ResMed in a Holding Pattern
Ben MacNevin
January 31, 2014
ResMed (ASX: RMD) has released its second quarter result for 2014, and once again it was a tale of two cities: the top line growth disappointed, while the bottom line growth impressed. So, amid these two opposing forces, which direction will the company likely take? continue…
by Ben MacNevin Posted in Health Care, Insightful Insights, Manufacturing.
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The Reject Shop: Bright future or burn-out?
Russell Muldoon
January 29, 2014
Despite the media talking up a very positive sales period over Christmas for our retailers, a mixed bag of trading results reported by the likes of JB Hi-Fi Limited (JBH), Super Retail Group Limited (SUL) and The Reject Shop Limited (TRS), have left many investors scratching their heads. continue…
by Russell Muldoon Posted in Companies, Insightful Insights.
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Are we there yet?
Tim Kelley
January 24, 2014
Half-year reporting season is just around the corner, and at Montgomery, we have the tendency to get a little bit excited about it.by Tim Kelley Posted in Companies, Insightful Insights, Investing Education.
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The Royal Dutch Shell Garage Sale
David Buckland
January 23, 2014
A massive earnings downgrade combined with a new chief executive making his mark have seen Shell commence its garage sale – with some hard and frugal choices being made across its global empire. continue…
by David Buckland Posted in Insightful Insights.
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The Significance Of Scale
Ben MacNevin
January 22, 2014
Corporate Travel Management (ASX: CTD) has discovered a profitable niche in the Australian corporate market, and has grown its Total Transaction Value (TTV) from $316 million to $1.44 billion in five years. To continue this growth, it will need to take on the “mega” travel agencies, but is there room at the top? continue…
by Ben MacNevin Posted in Insightful Insights.
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Gaining from the declining AUD
David Buckland
January 20, 2014
The declining Australian dollar is often seen as a negative event, raising the cost of imports and overseas holidays. Over 2013, the Australian dollar fell by 14 per cent against the US dollar (US$1.04 to US$0.89), 16 percent against Sterling (GBP0.64 to GBP0.54) and unbelievably 18 per cent against the Euro (EUR0.79 to EUR0.65).by David Buckland Posted in Insightful Insights.
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Beijing’s Big Bad Banks, Part II
David Buckland
January 17, 2014
On Wednesday, we compared the performance of China’s Shanghai Composite Index with the US S&P 500 over the seven years to December 2013 (see here). China’s investment-driven, debt-fuelled strategy has seen poor performance from several listed companies, many of which are controlled by the state. And the threat of rising bad debts, particularly in the so-called shadow-banking sector, is yet to play out. continue…
by David Buckland Posted in Financial Services, Insightful Insights.
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Muted Returns
Russell Muldoon
January 16, 2014
In the early stages of 2012 – and in reaction to the challenges the Australian economy was potentially facing – the Reserve Bank of Australia adopted an aggressive easing bias towards monetary policy. What followed was a period of extremely aggressive interest rate cuts and the yield on Australia’s 10-year government bonds fell from 4.4 per cent to the historical low of 2.5 per cent just a few months later. continue…
by Russell Muldoon Posted in Insightful Insights.
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Beijing’s Big Bad Banks, Part I
David Buckland
January 15, 2014
The prevailing view of many readers is that China’s communist regime will not allow an economic crash landing. Given their record foreign exchange reserves, the government can always throw money at the problem. continue…
by David Buckland Posted in Financial Services, Insightful Insights.
