Insightful Insights
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Gamechanger?
Roger Montgomery
March 11, 2013
If you are fan of pizza – I am but only the home made variety I grew up with in inner northern Melbourne – you may have seen Domino’s Pizza promoting its “biggest announcement in twenty years”. The social media campaign caught our interest because the company made a $15.4 million net profit for the six months to December 2012 but enjoys a market capitalisation of $800 million. We wanted to know what their “game changer” was going to be. As one Facebook fan wondered, it could be GPS guided pizza missiles.
Dominos have done an amazing job of harnessing the internet and social media to radically change the fast food industry but this campaign backfired badly. Believe it or not, the “Gamechanger”/”biggest announcement in 20 years”, was the release of new toppings and rectangular pizza bases. In a press release at the weekend Dominos announced:
“In the biggest and tastiest announcement in Domino’s 20 year history, Domino’s Pizza have revealed their new Chef’s Best™ Range…
continue…by Roger Montgomery Posted in Consumer discretionary, Insightful Insights.
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Vehicle demand on the rise
Roger Montgomery
March 11, 2013
If you are an investor in ARB or any listed business exposed to car sales such as Super Retail Group or Automotive Holdings, you may be interested in the latest Vfacts stats below that were kindly sent to us by our friends at broker Taylor Collison.
continue…by Roger Montgomery Posted in Insightful Insights, Manufacturing.
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Longing for Liquidity
Ben MacNevin
March 8, 2013
Below is one of the most spectacular half-year financial results we have seen this reporting season.
continue…by Ben MacNevin Posted in Consumer discretionary, Insightful Insights.
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MEDIA
What impact will the changing Global Economy have on Aussie Stocks?
Roger Montgomery
March 7, 2013
In these highlights from the Sky Business Switzer program broadcast 7 March, Roger provides his insights on how recent developments in U.S. interest rate policy and Chinese domestic construction are likely to impact the Australian market. Watch here.
by Roger Montgomery Posted in Energy / Resources, Insightful Insights, Market Valuation, TV Appearances.
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Should we Zig or Zag this week?
Roger Montgomery
March 4, 2013
The world’s financial markets are awash with change, the experts are only guessing and data, when released today, triggers a completely different and unpredictable response to the one triggered by the same data released previously. You are left in the position that John Maynard Keynes described in 1936: “We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be”.
Finding a place of permanence is necessary and that place, for us, is based on a simple principle; that we cannot predict shifting sentiment with any degree of accuracy or consistency.
continue…by Roger Montgomery Posted in Insightful Insights.
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The numbers game
Roger Montgomery
March 1, 2013
In his March 2013 Money magazine column, Roger provides his insights into how to determine the true value of a business. Read here.
by Roger Montgomery Posted in In the Press, Insightful Insights, Investing Education, Technology & Telecommunications.
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Foreign exchange? A foreign language.
Roger Montgomery
March 1, 2013
It is great to see so many of you digging into the half yearly company reports this reporting season. From all of the emails I have received, the one question that keeps popping up has been about the impact of currency on profits and balance sheets. One investor asked more specifically about what it means when a company talks about their results in ‘constant currency terms’.
Let me try to explain some of the impacts and in particular the predilection for some companies to selectively discuss results in “constant currency terms”.
continue…by Roger Montgomery Posted in Insightful Insights.
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MEDIA
Reporting Season Wrap
Roger Montgomery
February 27, 2013
In these highlights from the 27 February edition of ABC1’s ‘Inside Business’, Roger discusses with Alan Kohler the results of companies including BHP, Origin Energy and Qantas. Watch here.
by Roger Montgomery Posted in Energy / Resources, Insightful Insights, Tourism, TV Appearances, Value.able.
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GWA Group – not all beer and skittles
Roger Montgomery
February 27, 2013
In his Short Cut column for the Herald Sun published 27 February, Roger highlights how the buoyant share price of GWA Group is not supported by the company’s recent performance. Read here.
by Roger Montgomery Posted in In the Press, Insightful Insights, Property.
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The US – Capital’s Share Of Output At An All Time High, Part 2
David Buckland
February 27, 2013
Following on from the blog of 14 February 2013, I have been asked by a number of readers why I think Capital’s share of output as it all time high, and conversely why “Labour’s share of output has, in recent years, declined from 70% to 64%”.
I think there are three significant factors at work.
1. Globalisation has seen a structural decline in Western World manufacturing. The declining price of manufactured goods, in real terms, has ensured a weak bargaining positioning for labour. In Australia, for example, the Manufacturing Sector as a percentage of all workers has declined from 19% to only 9%, in the past thirty years;
by David Buckland Posted in Insightful Insights.
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