Investing Education
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Going back to (investment) basics
Roger Montgomery
July 15, 2014
In this interview with Ross Greenwood on Radio 2GB on July 15, Roger goes back to investment basics and reminds us why waiting for good businesses to become bargains is the best strategy for long-term success. Listen here.
by Roger Montgomery Posted in Investing Education.
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Where are we in the valuation cycle?
Tim Kelley
July 4, 2014
This is a frustrating market for value investors. Like many of our ilk, we are struggling to find high quality companies trading at prices that we consider attractive. As a result, we now hold significant cash balances in our funds waiting for opportunities to emerge. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education.
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Stock Buybacks: A path to riches?
Scott Shuttleworth
July 4, 2014
Following on from my article on dividends, stock buybacks are another way in which firms can distribute earnings to shareholders. Buybacks can lead to significant gains, especially over a prolonged period. Before we dive into some case studies, let’s overview the general theory. continue…
by Scott Shuttleworth Posted in Companies, Investing Education.
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Lower prices please!
Roger Montgomery
June 16, 2014
Zero. That’s the number of blatantly obvious value investing opportunities we can find at the quality end of the spectrum at the moment. But wait! Before you go selling all of your shares, or cease implementing your investment strategy, you may want to read on… continue…
by Roger Montgomery Posted in Insightful Insights, Investing Education.
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WHITEPAPERS
How National Storage can benefit from population swell: exclusive White Paper report
Roger Montgomery
June 6, 2014
The forecast Australian population growth from 23 million to 40 million by 2060 bodes well for self-storage providers – and small-cap National Storage is no exception. We take a closer look at how the third-largest self-storage provider is positioned.
by Roger Montgomery Posted in Investing Education, Whitepapers.
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Bubble watch #9
Roger Montgomery
May 21, 2014
We’re a self-deprecating bunch, us Aussies. Anything from the US is just that little bit better than what we have here, surely. At a finance seminar, you listen that little bit harder to anyone with an American accent, but should we be undervaluing our own abilities so harshly? continue…
by Roger Montgomery Posted in Investing Education, Market commentary.
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Show me the money
Tim Kelley
May 20, 2014
In looking at company financial statements, one useful question to ask is how cashflows compare with earnings. At the end of the day, cashflows are what give a company its value, but valuation tends to focus more on accounting earnings. continue…
by Tim Kelley Posted in Investing Education.
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Valuation, not speculation
Ben MacNevin
May 19, 2014
In the space of a fortnight, Treasury Wine Estate (ASX: TWE) has dismissed reports that it has been approached by two separate bidders for the company’s US assets. Speculation of this sort should never form the basis of your investment decision making. continue…
by Ben MacNevin Posted in Companies, Insightful Insights, Investing Education, Manufacturing.
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Super Retail Group
Roger Montgomery
May 12, 2014
Super Retail Group (ASX: SUL) owns the Supercheap Auto, Rebel, AMart Sports and BCF branded stores, and has provided a trading update for the 18 weeks to 2 May 2014, a day before the company presents at the Macquarie conference in Sydney. continue…
by Roger Montgomery Posted in Companies, Insightful Insights, Investing Education.
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Long-term value
Ben MacNevin
May 12, 2014
At Montgomery Investment Management, we invite you to invest with us if your investment philosophy is aligned with our own. We might be smaller than we would if adopting an all-things-to-all-people approach but life is short and working with people whose philosophy aligns with ours makes that life a lot more enjoyable. In any event, it takes time for the businesses we acquire to realise value, and discipline is required to maintain confidence in the investment process amidst short-term volatility. With so many people gambling on quick profits, it is perfectly understandable that our approach doesn’t appeal to everyone. Perhaps more intriguingly, our approach is also shared by the management of some of our invested companies and CSL is one of them. continue…
by Ben MacNevin Posted in Insightful Insights, Investing Education.