Investing Education
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The rules have changed. Has your portfolio?
Roger Montgomery
February 17, 2026
In my first video insight for 2026, I explained that the era of easy investing is over. With valuations elevated, markets concentrated in a narrow group of stocks and volatility rising, I believe investors need to think more carefully about diversification.
That is why we continue to focus on strategies uncorrelated to markets, such as the Aura Private Credit Income Fund, which seeks to provide investors with access to regular income, and the Digital Asset Funds Management – Digital Income Fund, which seeks to profit from volatility and pricing inefficiencies across global asset exchanges.
These strategies may offer diversification benefits and alternative sources of income in a changing investment environment. If you would like to learn more about our offerings and whether they are appropriate for your circumstances, please fill in the form below to receive further information. continue…
by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Insightful Insights, Investing Education, Market commentary, Video Insights.
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Investors are selling the disruptors and the disrupted
Roger Montgomery
February 6, 2026
On December 18, in a blog entitled Time Magazine Cover Curse, I wrote, “…Gracing the cover of the [TIME] mag isn’t a coronation but a harbinger of doom, because the moment a public figure has permeated the public discourse sufficiently to land the cover, the trajectory inevitably reverses.”
Politicians have suffered landslide defeats after being featured on the cover, as have business tycoons whose stocks plummet, and celebrities whose reputations are assassinated under sudden, intense scrutiny. continue…
by Roger Montgomery Posted in Companies, Economics, Investing Education, Market Valuation.
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MEDIA
Soaring stocks hide U.S. fragility as gold surge sends warning to investors
Roger Montgomery
February 5, 2026
The strength of U.S. stock markets would have any reasonable investor believing all is well with the world and that U.S. exceptionalism is alive and well.
Yet, the stock market’s buoyancy belies the head-spinning conga line of events over the first month of 2026 that would, at any other time in history, have caused the market to plunge or coincided with it.
Take gold’s 17 per cent ascent so far this month, which follows a 66 per cent rise in 2025. Such moves are unusual. Since gold began trading freely in the 1970s, the average annual return for gold has been roughly 6-8 per cent. January’s return doubles that annual number.
This article was first published in The Australian on 04 December 2025. continue…
by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Economics, Global markets, In the Press, Insightful Insights, Investing Education, Market commentary, Market Valuation.
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MEDIA
ABC Nightlife – from metals to mega caps: volatility returns to markets
Roger Montgomery
February 4, 2026
Gold prices jumped as much as 20 per cent in January before falling this month, while silver, after rising 250 per cent over 13 months, dropped 20 per cent in just days, raising the question of whether the boom is over or volatility will continue. Last night on ABC Nightlife with Philip Clark, I discussed these moves alongside why markets are no longer responding logically to geopolitical headlines, as massive passive index flows and belief in US exceptionalism keep equities elevated. I also explained how index investing has driven extreme concentration in mega-cap tech stocks and why that dominance is now starting to unwind as investors reassess who will truly benefit from artificial intelligence (AI).
Tune into the segment from 07:12 here: ABC Nightlife
by Roger Montgomery Posted in Global markets, Investing Education, Market commentary, Market Valuation, Radio.
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MEDIA
Fear + Greed Podcast – The bull and bear cases for equities in 2026
Roger Montgomery
February 3, 2026
I joined Sean Aylmer on Fear and Greed to look back at some of the key themes that shaped markets in 2025, including the hype surrounding in artificial intelligence (AI) stocks and the growing case for small caps. We also talked about the rise in gold and silver as the U.S. dollar weakened, and what those moves could signal for investors.
We then looked ahead to 2026, discussing why markets may become more volatile and how diversification into assets uncorrelated to traditional markets could help support portfolios. We covered Digital Asset Funds Management’s Digital Income Fund and how its digital arbitrage strategy aims to benefit from market volatility, and explored how Aura’s Private Credit Income Fund can provide income and returns with no correlation to sharemarkets.
You can listen to the episode on Fear and Greed here: The bull and bear cases for equities in 2026.by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Economics, Insightful Insights, Investing Education, Market commentary, Podcast Channel.
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Montgomery Small Companies Fund 2025 year in review
Scott Phillips
January 27, 2026
2025 was a strong year for small companies and for the Montgomery Small Companies Fund. In this detailed video, I’m joined by Gary Rollo, Co-Portfolio Manager of the Montgomery Small Companies Fund to review the Fund’s performance, key market drivers, and the outlook for small caps and growth companies heading into 2026. continue…
by Scott Phillips Posted in Companies, Economics, Global markets, Investing Education, Market commentary, Market Valuation, Small Caps, Stocks We Like.
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Navigating liquidity – Michael Howell’s 2026 outlook
Roger Montgomery
January 20, 2026
As we kick off 2026, I turned to UK-based Crossborder Capital’s latest global liquidity update by Michael Howell, noting booms and bubbles cannot occur without ample liquidity. The artificial intelligence (AI) boom was born of liquidity. Without ample central bank accommodation, we would not even be talking about AI, perhaps not even whispering about it except in a few university laboratories.
According to Howell, the 2026 financial landscape is a stage set for drama. His latest view on the prospects for crypto and risk assets in 2026 argues that while monetary inflation is here to stay as governments’ go-to fix for fiscal/budget woes, a looming downswing in global liquidity could produce turbulence for risk assets. Drawing from his analysis of cycles, correlations, and historical patterns, he likes positions in gold and cryptocurrencies as essential hedges – but advises investors to buy on dips. continue…
by Roger Montgomery Posted in Insightful Insights, Investing Education, Market commentary, Market Valuation.
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MEDIA
Fear + Greed Podcast – Are we in an AI bubble?
Roger Montgomery
January 13, 2026
I joined Sean Aylmer for Fear and Greed’s Summer Series to discuss whether the powerful rally driven by artificial intelligence (AI) may now be approaching it’s peak. Drawing on lessons from past technology booms, I explained that although investors can correctly predict that a technology (in this case, AI) will change the course of humanity – it doesn’t automatically translate to great investment returns. The issue becomes apparent when a theme is perceived as structural, when in fact it is cyclical. We can see this in AI stocks where valuations have been inflated to a point that cannot be sustained.
While no one can call the exact timing of an unwind, signs suggest the best part of the run for many AI-linked stocks may be behind us. For investors, perhaps they should consider rebalancing their portfolios after strong equity gains and spread capital more evenly across opportunities beyond the AI theme.by Roger Montgomery Posted in Insightful Insights, Investing Education, Market commentary, Podcast Channel.
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MEDIA
Fear + Greed Podcast – Small caps are back. Can they keep going?
Roger Montgomery
January 9, 2026
I joined Sean Aylmer from Fear and Greed’s Summer Series to discuss the strengthening performance of Australian small caps, why quality matters, and where opportunities are emerging. I shared a number of small-cap examples across different sectors to illustrate these points, including ZIP (ASX:ZIP), a buy-now-pay-later business growing strongly in the United States; Megaport (ASX:MP1), a key technology provider connecting data centres where a recent acquisition is yet to be fully recognised by the market; Codan (ASX:CDA), which manufactures gold detectors and continues to benefit from solid demand supported by elevated gold prices; and MA Financial Group (ASX:MAF), a private credit manager seeing strong inflows as investors seek more reliable income.
The key takeaway from this episode was the importance of being selective and backing quality businesses.
by Roger Montgomery Posted in Investing Education, Podcast Channel, Small Caps, Stocks We Like.
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MEDIA
Fear + Greed Podcast – Inside the remarkable world of high-frequency trading
Roger Montgomery
January 6, 2026
I joined Sean Aylmer for Fear and Greed’s Summer Series to talk about high-frequency arbitrage, how these strategies work, and why they have become an increasingly attractive alternative for sophisticated investors. We discussed how arbitrage seeks to profit from volatility and pricing inefficiencies across global asset exchanges. Importantly, we also explored how this type of strategy can complement a diversified portfolio by providing returns that are largely uncorrelated to equity markets.
by Roger Montgomery Posted in Digital Asset Funds Management, Insightful Insights, Investing Education, Podcast Channel.
