Investing Education
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WHITEPAPERS
Think Like A Business Owner
Roger Montgomery
February 2, 2013
In this first exclusive subscriber report for 2013, we welcome back Tony Featherstone, who in a timely manner for the year ahead reminds us of the hallmarks of true Value Investors.
by Roger Montgomery Posted in Investing Education, Whitepapers.
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MEDIA
Stick to stocks with edge
Roger Montgomery
February 1, 2013
In his February 2013 Money Magazine column, Roger outlines why it serves rational value investors to ignore the predictors of market fluctuations. Read here.
by Roger Montgomery Posted in Insightful Insights, Investing Education, Market Valuation, On the Internet.
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Analyst Forecasts
Tim Kelley
January 17, 2013
In evaluating the future prospects for a business, one useful source of information is analyst earnings estimates. A good broking analyst who covers a particular company will often have a well-informed view of the factors that might influence earnings for that company in the years ahead.
At the same time, there are a number of biases and other issues with analysts’ forecasts. One interesting issue is that the forecasts can have a certain “inertia” to them, which means that changes may occur gradually over time. Because of this, it can be useful to look at the history of the forecasts, as well as the current level.
continue…by Tim Kelley Posted in Insightful Insights, Investing Education.
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Playing It Safe by Adding Custard
Roger Montgomery
January 16, 2013
In His 8 December 2012 Australian column, Roger explains why quality and value are an essential combination for value investors. Read here.
by Roger Montgomery Posted in In the Press, Investing Education, Skaffold.
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Value Investing
Tim Kelley
January 12, 2013
Value investing can be a laborious process. Properly understanding the many aspects that influence the value of a business is time-consuming, and in many cases the end result is to add one more company to the large pile of “No” decisions.
There are much quicker ways to arrive at investment decisions, one of which is to use trend-following systems. A large body of academic research has demonstrated that, historically, it has been possible to earn excess returns in a variety of markets over time by employing systematic trend-following methods (note that systematic trend following is something done by a computer employing back-tested statistical methods, not by an analyst casting their eye over a price chart).
by Tim Kelley Posted in Insightful Insights, 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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The “New” Kmart
Ben MacNevin
December 7, 2012
With Christmas trading moving into full swing, everyone’s focus seems to be on the retail climate in Australia, with particular themes in the media springing to mind:
· Online sales are making it difficult for bricks and mortar stores
· Interest rates need to be cut further to stimulate spending
· The failure of Click Frenzy…
by Ben MacNevin Posted in Companies, Consumer discretionary, Investing Education.
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MEDIA
Where’s the Value?
Roger Montgomery
November 26, 2012
Roger provides his insights into the current lack of value in the Australian market with Ross Greenwood on his 2GB radio show. Listen here.
This program was broadcast 26 November 2012.
by Roger Montgomery Posted in Companies, Intrinsic Value, Investing Education, Radio.
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What are Roger Montgomery’s insights into value in the current market?
Roger Montgomery
November 21, 2012
Do Maxitrans (MXI), QBE (QBE), ARBE Corporation (ARP), Cobar Consolidated (CCU), IOOF (IFL), Seek (SEK), Fleetwood (FWD), Adelaide Brighton (ABC), NIDO Petroleum (NDO), Boral (BLD), Cardno (CDD), Jumbo Interactive (JIN) or Coca Cola Amatil (CCA) achieve the coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call 21 November 2012 program now to find out, and also learn Roger’s insights into value in the current market in resource stocks. Watch here.
by Roger Montgomery Posted in Companies, Investing Education, Market Valuation, TV Appearances.
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Montgomery Funds’ Performance to 15 November 2012
Roger Montgomery
November 21, 2012
Recently you may have received a copy of the first bi-monthly Investment report for The Montgomery Fund along with a copy of Tim Kelley’s White Paper “What’s Under the Bonnet?”. We are of course enormously proud of the very early results The Montgomery Fund has achieved and we won’t be resting here. For those who missed out however and are interested in the latest performance numbers, please find them below.
To invest $25,000 or more in The Montgomery Fund, you will need to click here and request a copy of the Product Disclosure Statement, which includes the Application Form. Don’t invest in any security that is not appropriate for you of course and to determine that you must seek and take personal professional advice.
by Roger Montgomery Posted in Insightful Insights, Investing Education.
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Hybrid Securities – Equity Downside for Fixed Interest Returns
Tim Kelley
November 16, 2012
We often hold a material amount of cash in our funds management operation and, with deposit rates at painfully low levels, we have been considering ways we might work the cash a bit harder. Like many investors, we have focused attention on hybrid securities as one possibility.
Having studied this possibility for a short time we are now focusing elsewhere. Analysis of the terms of some of the recent offerings reveals highly complex instruments with concealed downside risks and an interest rate that falls well short of compensating investors for the hidden downside. A cynical observer might think that some of these products are designed to exploit retail investors who are unable to fully assess the downside risks they are taking on.
by Tim Kelley Posted in Insightful Insights, Investing Education.
