Investing Education
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A quick look back Q1 2014, what occupied our thoughts?
Roger Montgomery
January 6, 2015
Over the next few days, we will take a look back at 2014 and highlight the most popular articles based on your views and comments.
In January, the most popular article was a white paper we wrote about the growth of technology disrupting the millon-dollar accounting software market and the impact on Reckon. We also covered Dulux Group and the challenging times ahead with uncertainty surrounding the housing construction market. continue…
by Roger Montgomery Posted in Investing Education.
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Key issues for 2015
Roger Montgomery
January 5, 2015
In December I wrote an article for the ASX Investor Update, I thought I would share my thoughts with you as a welcome back to the year ahead.
What you should be watching out for in 2015 and what to expect with property prices, index funds and shares. continue…
by Roger Montgomery Posted in Companies, Consumer discretionary, Energy / Resources, Financial Services, Insightful Insights, Investing Education.
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What risk are they managing?
Tim Kelley
December 23, 2014
One of our peeves at Montgomery is fund managers who ‘hug’ the index. A manager might for example take an underweight position in BHP by allocating 5 per cent of a portfolio to it, when BHP makes up around 7 per cent of the index. This leaves them with a 2 per cent underweight position, which can fund an overweight position in some other large cap stock. If they charge investors a fee of 100 basis points for this type of ‘active’ management, the investors are getting a raw deal. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education, Value.able.
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Should you ignore the hype?
Scott Shuttleworth
December 19, 2014
TPG Telecom Limited (ASX: TPM) has been sold off sharply over the past few days presumably post the Government’s response to the Vertigan Panel’s review of the National Broadband Network & telecommunications industry which you can find here.
The report contains a lot of material, an analysis of which could extend for several pages, so below we attempt a more concise review of some of the changes and their potential implications for TPG as we currently see them. continue…
by Scott Shuttleworth Posted in Insightful Insights, Investing Education, Technology & Telecommunications.
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Sirtex Medical vs BTG?
Russell Muldoon
December 18, 2014
We have watched the share price fall in Sirtex Medical over the past week with some interest, and whilst we don’t take our cues from price action alone, we did a fair amount on enquiry as to what had spooked investors over such a short space of time. continue…
by Russell Muldoon Posted in Health Care, Insightful Insights, Investing Education.
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Navigating 2014 – the winners and losers
Ben MacNevin
December 11, 2014
A key requirement to generating long-term returns is minimising losses, or what we like to call avoiding the landmines. As the latest results demonstrate, The Montgomery Fund has done a superb job at navigating the minefield that was 2014.
There was a clear divergence in the sectoral performances of the S&P/ASX 200 in 2014. Let’s first examine the sectors that are trading below the levels from the start of the year. continue…
by Ben MacNevin Posted in Insightful Insights, Investing Education.
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Warning – don’t panic.
Tim Kelley
December 10, 2014
There have been volatile times recently on the ASX. With prices for oil, iron ore and coal falling sharply, the mood in the resources sector has turned decidedly sour. Further, the negative mood seems to have been adopted more broadly by the market, with a wide range of stocks showing meaningful price declines. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education, Market Valuation, Value.able.
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Eco growth, is it slowing?
Russell Muldoon
December 10, 2014
In the past few months, we have noted that retailing – among other sectors that make up the Australian economy – slowed dramatically in the June quarter of 2014. The September quarter reports from many companies over AGM season saw a continuation of that trend.
Further to our recent observations, Australia GDP just printed at 0.3 per cent for the September quarter. By contrast, 0.5 per cent for the June quarter 2014, confirms that economic growth is waning in Australia and the RBA might be forced to cut rates further. continue…
by Russell Muldoon Posted in Economics, Energy / Resources, Insightful Insights, Investing Education.
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Looking for value in TPG
Scott Shuttleworth
December 9, 2014
I recently attended TPG Telecom Limited’s Annual General Meeting in Macquarie Park. Below is an ‘over-the-shoulder’ view of my notes which you may find useful. continue…
by Scott Shuttleworth Posted in Insightful Insights, Investing Education, Technology & Telecommunications.
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Who holds the keys to health?
Ben MacNevin
December 8, 2014
Having recently returned from a comprehensive tour of healthcare companies with our friends at UBS, we gleaned a highly important understanding of where the bargaining power lies in the industry. From this tour, it was abundantly clear whose interests matter most.
In essence, every element of the health care sector is dependent upon the doctors – this is across hospitals, health funds, pathology, service providers and medical device distributors. continue…
by Ben MacNevin Posted in Health Care, Insightful Insights, Investing Education.
