Investing Education
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Investors in index funds should be very cautious
Roger Montgomery
April 27, 2017
In December 2014, I wrote an article for The Australian titled ‘Beware the lure of the ‘cheap’ index fund: it’s full of junk’. Today, I’d like to repeat that warning. Investors who think ETFs give them safety through diversification are no more protected than those who invested in mortgage backed collateralized debt obligations (CDOs) before the GFC. continue…
by Roger Montgomery Posted in Investing Education.
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What to consider when valuing a company
Lisa Fedorenko
April 20, 2017
Have you ever wondered why analysts from different broking firms will value the same business quite differently? It often comes down to the assumptions they make, and the level of simplicity or complexity they build into their models. continue…
by Lisa Fedorenko Posted in Investing Education.
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How to improve your investment returns in one simple step
Ben MacNevin
April 11, 2017
If you invest your own money, and you’re looking to improve your performance, here is one simple tip you should consider: measure your returns. This may sound like common sense, but it’s remarkable how many of us are averse to critical reflection. continue…
by Ben MacNevin Posted in Investing Education.
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ETFs inevitably boost the value of fewer outperformers
Lisa Fedorenko
March 3, 2017
Across the investment world, ETFs are on the rise. And for good reason – as Tim recently noted, ETFs outperform many actively managed funds. But the growing popularity of ETFs is having another consequence – it is making outperforming managed funds even more valuable, and pushing underperforming funds out faster. continue…
by Lisa Fedorenko Posted in Investing Education.
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How Berkshire Hathaway views investments in China, airlines and tech
Roger Montgomery
February 28, 2017
If you had money to invest, where should you put it? According to Warren Buffett’s business partner, Charlie Munger, you should look at China. Munger shared his investment insights in a recent interview. It makes vital reading for all investors in global equities, and those with holdings in The Montgomery Global Fund. continue…
by Roger Montgomery Posted in Editor's Pick, Investing Education.
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WHITEPAPER
INTEREST RATES, THE BEST IT GETS. IT’S TIME TO DEPLOY CASH
Curious about the investment landscape in 2024? It appears that the current market offers a plethora of enticing opportunities for investors, a rarity not experienced since pre-pandemic times. This unique scenario stems from a confluence of factors, including elevated yields and comparatively rational equity valuations.
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Why we continue to steer clear of cyclical businesses
Roger Montgomery
February 22, 2017
It’s painful watching the share prices of companies we don’t own rising, and doubly insulting watching the prices of those we do own declining. For over half a year we, along with our investors, have had to endure this ‘new order’, in which cyclical businesses have been on a tear, while many quality businesses have been punished. But looking at our performance over the longer term makes me confident we have the right strategy.
continue…by Roger Montgomery Posted in Investing Education.
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Value investing giant, Seth Klarman, issues a warning to all investors
Roger Montgomery
February 16, 2017
Seth Klarman’s Baupost Group is the world’s 11th largest hedge fund. And Klarman, a renowned value investor, has sometimes been compared to Warren Buffett. So when he offers his analysis, it’s worth reading. Which is why we’re pleased to bring you excerpts from Klarman’s latest investor letter. continue…
by Roger Montgomery Posted in Editor's Pick, Investing Education.
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When directors sell, should you sell too?
Tim Kelley
February 9, 2017
When directors buy or sell shares in their company, most people believe they are sending a strong signal to the market about the firm’s prospects. But how strong is the correlation between director trades and share price movements? And should you buy or sell because a director has too? We did some research to get closer to the truth. continue…
by Tim Kelley Posted in Investing Education.
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Can a machine read company announcements?
Tim Kelley
January 31, 2017
Regular readers will know that our investment process takes advantage of quantitative analysis to identify potentially interesting investment opportunities. To do this analysis, we “train” a computer model to distinguish between strong and weak investment candidates using historical data, and then apply the resulting model to try to try to identify tomorrow’s successful investments. continue…
by Tim Kelley Posted in Investing Education.
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Howard Marks’s seven lessons for investors
David Buckland
November 24, 2016
Howard Marks is the Founder and Co-Chairman of Oaktree Capital Management – which manages funds of around US$100b. He is greatly respected for his investment strategies and insights. I recently heard him speak at the Sohn Hearts and Minds Conference and re-read his book, ‘The Most Important Thing’. In a nutshell, Marks has seven key lessons for all investors. continue…
by David Buckland Posted in Editor's Pick, Investing Education.
