Investing Education
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Put not your trust in money, but put your money in trust. -Oliver Wendell Holmes
Roger Montgomery
March 22, 2013
If you have been following the Montgomery story for some years, you will know that here at Montgomery we are focused value investors. If you have been also following the Skaffold journey you will know it is the online investing platform through which anyone can adopt and implement a value investing approach.
It is encouraging then, for all value investors, to observe that the approach we have adopted, and which we try our best to share is working.
continue…by Roger Montgomery Posted in Insightful Insights, Investing Education.
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The irrational “Mr Market”
Ben MacNevin
March 20, 2013
Charlie Munger is one the most influential investors in the world today. As a founding partner of Berkshire Hathaway with Warren Buffett, Munger is known for his ability to logically process a number of steps in quick succession by employing about 90 relatively simple mental ‘models’.
You may be interested in the link below – to a speech that Charlie Munger presented and in which he discusses many of these models. The speech is well worth a read if you seek to improve your ability to make logical investment decisions (indeed, many of our blog posts reference these models in some way).
continue…by Ben MacNevin Posted in Companies, Insightful Insights, Investing Education, Market Valuation.
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Wrestling with Resources
Tim Kelley
March 18, 2013
I noted with interest Anton Tagliaferro’s comments in today’s AFR, lamenting the apparent lack of shareholder focus shown by boards of directors in the resources and energy sectors. Reading these comments, it struck me that the boards of these companies are no doubt plagued by the same issues that confound value investors looking at these types of businesses.
As value investors, we aim to acquire an interest in a business when we can see that the value of the business is greater than the price we need to pay to own it. At Montgomery, we are concerned also with quality and a host of other factors, but let’s focus for the moment on value.
continue…by Tim Kelley Posted in Energy / Resources, Insightful Insights, Investing Education.
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Wylie E. Coyote or Road Runner?
Roger Montgomery
March 7, 2013
You will have to forgive the rather startling image we have chosen for this blog post. Its really been selected for dramatic effect only.
You may not realise this but all the way back in August 2010 we were BHP bulls, writing; “If you take on blind faith a A$22b profit, BHP’s shares are worth AUD $45-$50 each.”
But then in February 2011 we became a little more circumspect. You can read about the change here.
continue…by Roger Montgomery Posted in Companies, Energy / Resources, Investing Education, Value.able.
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MEDIA
The numbers game
Roger Montgomery
March 1, 2013
In his March 2013 Money magazine column, Roger provides his insights into how to determine the true value of a business. Read here.
by Roger Montgomery Posted in In the Press, Insightful Insights, Investing Education, Technology & Telecommunications.
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Forget Gut Feeling and Think Value
Roger Montgomery
February 27, 2013
In this Australian Financial Review article, Jeremy Chunn applies the Value.able strategy to his investing, and discusses the process with Roger. Read here.
This article was published on 27 February 2013.
by Roger Montgomery Posted in In the Press, Investing Education.
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- POSTED IN In the Press, Investing Education
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WHITEPAPERS
The chase for yield – Elusive returns?
Roger Montgomery
February 20, 2013
Enjoy the next in our exclusive subscriber-only White Paper series for 2013.
by Roger Montgomery Posted in Investing Education, Whitepapers.
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Ben Graham’s legacy – a tonic for investors
Roger Montgomery
February 18, 2013
As you know, at Montgomery we believe that the secret of our modest outperformance to date is to always remain the student. Once you start thinking you know it all, hubris kicks in and inevitably you fall. You can’t walk around with your nose pointing to the sky and expect to avoid tripping.
by Roger Montgomery Posted in Investing Education.
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Forecasts and predictions
Tim Kelley
February 7, 2013
With the market having woken up in a good mood in January, we have recently seen a number of commentators revise upwards their forecasts for where the index may finish the year. Declaring 2013 to be a year for the bulls is very much in fashion. Admitting how wrong most of these forecasts were for 2012 is rather less fashionable.
To add some context, I thought it might be helpful to refer to some interesting research that has been done on the reliability of expert forecasts.
continue…by Tim Kelley Posted in Insightful Insights, Investing Education.
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Dear Under-50 Investor
Roger Montgomery
February 6, 2013
Dear Under-50 Investor,
Superannuation will be no good for you if you are under 50 today, so invest the absolute minimum amount into super.
That means, no salary sacrificing, no co-contributions, no non-concessional contributions. Ignore the calls to save tax and boost your super you will be soon contributing 12% of your salary anyway. This is not advice but a challenge to others, much more qualified than I, to dispute it and explain why I am totally wrong. By the way, as a fund manager of course, I am financially delighted to be completely wrong on this one!
continue…by Roger Montgomery Posted in Insightful Insights, Investing Education.
