Insightful Insights
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JB Hi-Fi on the up?
Ben MacNevin
May 8, 2013
Last week, within the first few minutes of sitting in a conference room listening to an update by Terry Smart, one of Australia’s smartest retailers, he announced a sales and profit upgrade. Naturally having a position in JB Hi-Fi (JBH) is pleasing.
continue…by Ben MacNevin Posted in Companies, Insightful Insights.
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The world according to Charles Munger
Roger Montgomery
May 7, 2013
The world according to Charles Munger.
Why are bankers like heroin addicts? Why is the USA unlike Japan? Why does QE concern Charlie Munger? Are Greek’s built for capitalism? If Charlie Munger was running US healthcare how would you fare?
continue…by Roger Montgomery Posted in Insightful Insights.
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An investment theme we like
Tim Kelley
May 6, 2013
Healthcare is one of the investment themes we like at Montgomery. In most OECD countries, healthcare spend has been growing at around GDP +2% for many decades, and ageing populations will provide a tailwind for some time to come. This is a challenge for governments, who can’t readily grow revenues faster than GDP and so will need to reduce their share of the total spend. However, with demand growing, we expect that private contributions will increase to fill the gap. Baby boomers who can afford to look after themselves will likely choose to do so.
continue…by Tim Kelley Posted in Health Care, Insightful Insights.
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Up up and away…?
Russell Muldoon
May 3, 2013
It should come as no surprise. We have always shunned capital intensive businesses such as Qantas.
continue…by Russell Muldoon Posted in Airlines, Insightful Insights.
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CSL restarts production of influenza vaccine for Australia
Ben MacNevin
May 1, 2013
CSL has announced that it is restarting production of influenza vaccine for the Australian market in response to higher than expected demand this season.
continue…by Ben MacNevin Posted in Health Care, Insightful Insights.
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How Far Can The Big Four Banks Go?
Tim Kelley
May 1, 2013
Strong investor support for stocks with high dividend yields has been one of the defining features of the Australian share market over the last year or two. The big four banks have been particular beneficiaries of this, and with a healthy first half result reported this week by ANZ, the theme has additional momentum.
continue…by Tim Kelley Posted in Financial Services, Insightful Insights.
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What’s happening at our banks?
Roger Montgomery
April 30, 2013
What’s happening at our banks? ANZ reports.
by Roger Montgomery Posted in Financial Services, Insightful Insights.
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The Australian dollar needs to fall
Roger Montgomery
April 30, 2013
Australia’s triple AAA credit rating, strong commodity exports and high interest rates have meant that many have enjoyed the benefits of a high Australian dollar.
Variously described as the Little Aussie Battler, Pacific Peso and the Aussie Ringgit, the Australian currency has now traded for the longest period of time above parity against the US dollar since it was floated in 1983.
continue…by Roger Montgomery Posted in Economics, Insightful Insights.
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Structural change?
Russell Muldoon
April 29, 2013
Even though we haven’t owned Blackmores shares, last week we read their regular quarterly update for the first nine months of 2013. We did so with some concern. At the top-line, a reported a 29% jump in revenue looks like a strong result. At the bottom-line, the 7% NPAT decline is troubling for a number of reasons.
continue…by Russell Muldoon Posted in Companies, Insightful Insights.
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Resmed – 3rd quarter results
Ben MacNevin
April 27, 2013
Resmed has just announced another record quarterly result. For those unfamiliar with Resmed, the company is a manufacturer of flow generators and masks for sufferers of Obstructed Sleep Apnea (OSA). OSA is a condition that causes the airways to temporarily close while sleeping (apnea means “without breath”).
continue…by Ben MacNevin Posted in Companies, Insightful Insights.
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