Insightful Insights
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Can’t catch a break
Ben MacNevin
April 18, 2013
It seems that Rio Tinto can’t catch a break. In the past 12 months, the company has had to accept significant impairments, deal with a falling iron ore price, and now it has lowered its full year copper production target by 19 per cent as a result of a significant wall slide at their Kennecott Utah Copper mine.
continue…by Ben MacNevin Posted in Energy / Resources, Insightful Insights.
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Golden opportunities?
Russell Muldoon
April 17, 2013
When prices are collapsing, we tend to get very excited about the prospect of finding any proverbial babies that have been thrown out with the bathwater. Over the years we have built a number of quantitative and qualitative frameworks that rapidly analyse companies, in a range of sectors, in an attempt to quickly uncover potential investee candidates.
continue…by Russell Muldoon Posted in Energy / Resources, Insightful Insights.
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The post-PC revolution
Roger Montgomery
April 17, 2013
At Montgomery we have several investment themes that influence our enthusiasm for an investment that meets all our other criteria.
continue…by Roger Montgomery Posted in Insightful Insights, Technology & Telecommunications, Value.able.
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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.
