Insightful Insights
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The gold(en) bear
David Buckland
April 17, 2013
Adam Scott’s superb victory in the US Masters on Sunday at Augusta National means that Australians have now won a total of 15 major golf championships. It’s incredible to think that one of the greatest golfers of all time, Jack Nicklaus, the ‘Golden Bear’, won 18 career major championships by himself.
Whilst we’re on the subject of Gold(en) Bears, at the moment we’re cautiously noting that after jumping from under US$300/oz to over $1,900/oz in the decade to September 2011, gold appears troubled.
continue…by David Buckland Posted in Energy / Resources, Insightful Insights.
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The view from the top of Australia…
Roger Montgomery
April 16, 2013
It was interesting to read in yesterday’s Australian Financial Review that auction clearance rates surged past 70% at the weekend. There’s almost an air of desperation at some auctions. The fear of missing out is a much greater influence on investor behaviour than the fear of loss.
continue…by Roger Montgomery Posted in Insightful Insights, Property.
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Mining’s fiscal cliff arrives early?
Roger Montgomery
April 16, 2013
As you know we have long warned about this. We warned that China’s growth would slow and that even if it didn’t, its appetite for iron ore would. In print, in the press, here on our blog, and on TV and radio we have warned that mining would see its own ‘fiscal cliff’.
continue…by Roger Montgomery Posted in Energy / Resources, Insightful Insights.
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Have mining investments passed their peak?
Russell Muldoon
April 15, 2013
For some time now, we have been cautious about the prospects for listed EPC (Engineering, Procurement and Construction) contractors (mining services). And neither the recent rebound in share prices, nor the following RBA announcement, made last week by Christopher Kent, have done much to impact this view.
continue…by Russell Muldoon Posted in Energy / Resources, Insightful Insights.
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Going to the dogs…debt free
Roger Montgomery
April 13, 2013
Is it a socialist philosophical legacy in our public education system that is thwarting Australia’s future?
If you have your kids in a public primary school, you might have observed that unless the school has the resources for a gifted/talented/enrichment program, everyone needs to wait until the slower students have ‘caught up’. I have heard many stories of the smartest and brightest kids being sent on errands for the teacher because they have already completed their work. In this, whether intended or not, there is an element of the socialist philosophy in the response and possibly the outcome.
continue…by Roger Montgomery Posted in Economics, Insightful Insights.
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- POSTED IN Economics, Insightful Insights
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The only way is down for the Chinese share market…?
David Buckland
April 12, 2013
As the US share market hits all-time highs, we are often asked why the Chinese share market, as measured by the Shanghai Composite Index, is 64 per cent below its October 2007 peak.
continue…by David Buckland Posted in Economics, Insightful Insights, Market Valuation.
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Does intellectual property have the value it once had?
Tim Kelley
April 10, 2013
A strong competitive “moat” is one of the features we value in a business. Moats can take many different forms, but one appealing type of moat is that provided by intellectual property, ideally protected by patents.
Companies like Cochlear, Resmed and Codan are good examples of businesses that owe part of their prosperity to technology that provides an edge over competitors. In many cases, this edge has been built and maintained over many years through substantial investments in R&D.
continue…by Tim Kelley Posted in Consumer discretionary, Insightful Insights, Technology & Telecommunications.
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The Eurozone… a safe place for deposits?
David Buckland
April 8, 2013
The 40% tax on uninsured deposits exceeding E100,000 within Cyprus’s banking system proves a Euro held in one of the seventeen Euro countries is not the same as a Euro held elsewhere.
by David Buckland Posted in Insightful Insights.
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An offshore Montgomery fund?
Roger Montgomery
April 6, 2013
“There is a tide in the affairs of men, which taken at the flood, leads on to fortune. Omitted, all the voyage of their life is bound in shallows and miseries. On such a full sea are we now afloat. And we must take the current when it serves, or lose our ventures.” William Shakespeare
At Montgomery we have received innumerable requests to launch an offshore fund. The Montgomery Global Fund, for example. This is something we have the capability to do.
by Roger Montgomery Posted in Insightful Insights, Skaffold.
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- POSTED IN Insightful Insights, Skaffold
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Trouble brewing? Coal seam gas and the water table (part 2)
David Buckland
April 5, 2013
Earlier this week, the Council of Australian Governments (COAG) Reform Council said that the Commonwealth had now set up the “Independent Expert Scientific Committee on Coal Seam Gas and Large Mining Development” (IESC). This will give governments solid scientific advice on the potential effects of CSG and large mining developments on water resources. In the five years to 2010/11, CSG has increased from 2% to 11% of Australia’s total gas production (read the media release).
continue…by David Buckland Posted in Energy / Resources, Insightful Insights.
