Insightful Insights
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Inspecting the Car Industry
Ben MacNevin
August 23, 2013
Automotive Holdings (ASX: AHE) is Australia’s largest automotive retailer and transporter of refrigerated food. While AHE sits outside our investment universe, we enjoy following the company’s performance as management is well placed to comment on the health of the domestic car industry (which has implications for the broader economy). In our latest discussion at the full year results, management noted three key pressures that the company is closely monitoring. continue…
by Ben MacNevin Posted in Insightful Insights.
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Mining services this reporting season
Russell Muldoon
August 19, 2013
Following on from Ben’s post last week on Boom Logistics Limited (BOL), three other mining services sector-related businesses have also reported so far. continue…
by Russell Muldoon Posted in Energy / Resources, Insightful Insights.
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Crouching Tiger, Hidden Warning!
Roger Montgomery
August 16, 2013
Listen up! You might not get too excited about bonds and interest rates but just as gravity pulls everything down on earth, so do rising interest rates affect the value of assets from from stocks to residential property to cotton farms. continue…
by Roger Montgomery Posted in Insightful Insights.
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What does the CBA result tell us about the market?
Tim Kelley
August 15, 2013
Interesting to see the share price reaction to the CBA result today. As we write, CBA shares are off slightly, following yesterday’s announcement of CBA’s record FY13 profit. continue…
by Tim Kelley Posted in Financial Services, Insightful Insights.
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NAB – Australian Business Conditions at a 4 Year Low
David Buckland
August 14, 2013
National Australia Bank’s monthly survey for July 2013 is pointing to business conditions being at their lowest level since May 2009. continue…
by David Buckland Posted in Insightful Insights.
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Update: Another nail in Australia’s prospects
Roger Montgomery
August 13, 2013
Is it true that Woolworths have given marching orders to hundreds of Dan Murphy managers around Australia? Is it also true 200 managers at Dan Murphy’s in Queensland have been given six months notice with similar notices received around the country as the company reduces the number of managers per store from 4 to 3? continue…
by Roger Montgomery Posted in Insightful Insights.
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The fortunes of IRESS
Ben MacNevin
August 9, 2013
IRESS is a company that we love at Montgomery Investment Management and it’s been frustrating to watch the company’s share price trade at a material premium to our estimate of its intrinsic value. But has its latest acquisition presented an entry opportunity? continue…
by Ben MacNevin Posted in Companies, Insightful Insights.
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Still Going Strong
Roger Montgomery
August 8, 2013
For the month of July, a substantial proportion of The Montgomery [Private] Fund’s portfolio was parked in the safety of cash because few new opportunities to invest in quality at cheap prices became available. Despite a lack of value available in the market, the market rose and this resulted in what is conventionally known as ‘cash drag’. continue…
by Roger Montgomery Posted in Insightful Insights.
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US jobs recovery?
Roger Montgomery
August 6, 2013
Despite enthusiasm by equity investors in a US economic recovery, we have been reading a great deal about the changing face of the US workforce. Our view is that some of the changes – along with automation – have produced a rosier outlook for business profitability but possibly a less prosperous country. continue…
by Roger Montgomery Posted in Insightful Insights.
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A comment on WA
Roger Montgomery
August 5, 2013
Lynne Fraser recently posted an interesting observation about business conditions in WA on our Facebook page. While the nation permits itself to be distracted by the You’re-Voting-For-Me-Kevin-Rudd-not-Labour campaign, it is worth remembering what is really going on in the Australian economy. continue…
by Roger Montgomery Posted in Insightful Insights.
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