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.
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The low-risk investment strategy
Roger Montgomery
May 6, 2014
In this interview with Ross Greenwood on Radio 2GB on Tuesday May 6, Roger discusses risk and probability when it comes to investing, and why it’s important to consider the value of a business rather than trying to gamble on the stock market. Listen here.
by Roger Montgomery Posted in Investing Education, Market commentary.
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Good Investment Performance from BTT
Tim Kelley
May 1, 2014
One of the businesses we follow in The Montgomery Fund is BT Investment Management (ASX: BTT). Being fund managers ourselves, we like to think we have some understanding of this type of business. continue…
by Tim Kelley Posted in Companies, Investing Education.
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A Question of Value
Ben MacNevin
April 28, 2014
Here’s a question for you. If a company receives a takeover offer at a material premium to its current share price, has the company’s management been successful at realising value for its shareholders? continue…
by Ben MacNevin Posted in Insightful Insights, Investing Education, Value.able.
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Value Investing According to Browne
Roger Montgomery
April 22, 2014
Those of you have read anything or even, possibly, everything written about Warren Buffett, you would know that he has said many flattering things about Charles Browne and Forrest Tweedy and the brokerage-come-funds-management firm they founded Tweedy Browne LLC. continue…
by Roger Montgomery Posted in Investing Education, Value.able.
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The market’s best companies
Roger Montgomery
April 16, 2014
Recently, I contributed an article to the April 2014 edition of the ASX Investor Update email newsletter, which was then published on the ASX website. In what was essentially a checklist in helping spot great companies, I nominated 15 that fit the criteria. Read the full article here, and to register with the MyASX newsletter, click here.
by Roger Montgomery Posted in Companies, Investing Education.
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You know it makes sense
Russell Muldoon
April 11, 2014
Stanley Druckenmiller, one of the titans of the hedge fund industry and the man who famously made $1 billion shorting the British pound with George Soros in 1992, was recently asked about the most important lessons that he learned from Soros during his time as the lead portfolio manager for the Quantum fund. continue…
by Russell Muldoon Posted in Insightful Insights, Investing Education.
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Has the search for yield run out of steam?
Tim Kelley
April 4, 2014
One prominent feature of the Australian equity market in the last few years has been strong support for large dividend-paying stocks. The Big Four banks have been particular beneficiaries of this, and have enjoyed share price gains that seemed to go beyond what might otherwise be justified. The first chart below compares the ASX300 (in yellow) with the banks’ sub-index (in pink) for the past 24 months. Bank shareholders have done very well during this period. continue…
by Tim Kelley Posted in Insightful Insights, Investing Education, Market Valuation.
