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Why does Roger Montgomery think Qantas’ accountants are so creative?
Roger Montgomery
May 23, 2012
Learn Roger’s Value.able insights into the recent Qantas corporate restructure in this discussion with Radio 2GB’s Ross Greenwoood broadcast on 23rd May 2012. Listen here.
by Roger Montgomery Posted in Investing Education, Radio, Value.able.
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What are Russell Muldoon’s Value.able Insights into Seven West Media and Qantas?
Roger Montgomery
May 22, 2012
Do Jumbo Interactive (JIN), Seven West Media (SWM), Matrix Composites (MCE), Toll Holdings (TOL), Blackmores (BKL), Seek (SEK), Silverlake resources (SLR), Paladin Energy (PDN) and Qantas (QAN) make Roger’s coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call broadcast 22 May 2012 to find out. Watch here.
by Roger Montgomery Posted in Airlines, Companies, Investing Education, TV Appearances, Value.able.
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Is this what they mean?
Roger Montgomery
May 16, 2012
When pundits talk of blood in the streets, is this what they mean?
The chart above is a Market Heat Map for the All Ordinaries. The brightest green is a move up of more than 6% on the day. Not many fit that bill today. The brightest red is a move down of more than 6%. The size of each box is related to market capitalisation. You can see the four big boxes in the lower middle of the heat map – thats the big four banks.
And if you are wondering what the little bright green stock is at the lower right of the Heat Map, that’s Industrea (ASX: IDL, Skaffold Quality Score A3). A year ago IDL was trading at $1.57 but its intrinsic value in Skaffold was just $1.13. Based on expected 2012 results Skaffold’s intrinsic value was just 83 cents and on May 9 this the share price fell to 80 cents. So it a took a year to get there but the price traded at a 4% discount to intrinsic value – admittedly not a very wide discount. And today IDL is bright green in a sea of red ink because it received a takeover offer from GE at $1.27.
Turning back to the Heat Map and the red appearing everywhere (it could all be very bright green tomorrow – we are not in the business of predicting prices) the fact is that it’s not common for us to look at prices with this much interest unless things are indeed getting interesting. We know the companies we’d like to own and the prices we’d like to pay – all that’s left to do is to turn the market on and see if anyone is prepared to do something silly today.
Today might just have been one of those days. Only time will tell and of course never bet the farm on one throw of the dice. So are we looking at a market on the precipice (the same precipice many of you have indicated you believe house prices are sitting on)? Or if you are reading this after the close, have you missed the boat? WHat are your advisers telling you?
There are some incredibly learned and articulate readers that regularly visit and I’d be delighted to hear your thoughts.
Posted by Roger Montgomery, Value.ableauthor, SkaffoldChairman and Fund Manager, 16 May 2012.
by Roger Montgomery Posted in Investing Education, Value.able.
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MEDIA
Can you really be surprised at the slump in Mining Services?
Roger Montgomery
May 15, 2012
Roger Montgomery is not surprised by the slump in Mining Services share prices – here he discusses with Ticky Fullerton on ABC’s The Business how the growth in supply and the limits to Chinese demand have allowed value investors to anticipate the current share price levels. Watch the video.
This interview was broadcast on ABC1’s The Business on 15 May 2012.
by Roger Montgomery Posted in Companies, Energy / Resources, Investing Education, TV Appearances.
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How can you depreciate a solid cash profit?
Roger Montgomery
May 12, 2012
Roger Montgomery discusses in The Australian why his Value.able approach to investing requires investors to look past accounting depreciation to understand the true cash profitability of companies. Read here.
by Roger Montgomery Posted in In the Press, Intrinsic Value, Investing Education.
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What Value.able Insights does Roger have on Flight Centre?
Roger Montgomery
May 9, 2012
Do Indochine Mining (IDC), Silverlake Resources (SLR), Iluka Resources (ILU), Horizon Oil (HZN), Boart Longyear (BLY), Newcrest Mining (NCM), BHP Billiton (BHP), Rio Tinto (RIO), Think Smart (TSM), New Hope Coal (NHC), Ludowici (LDW), Alumina (AMC), Flight Centre (FLT), Hawkley Oil & Gas (HAG), M2 Communications (MTU), Northern Star (NST), Codan (CDA) or Onesteel (OST) make Roger’s coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call broadcast 9 May 2012 to find out. Watch here.
by Roger Montgomery Posted in Companies, Investing Education, Skaffold, TV Appearances, Value.able.
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How can competitive advantage be sustained?
Roger Montgomery
May 3, 2012
In this BRW article Tony Featherstone discusses the nature of sustainable competitive advantage and how Roger Montgomery swears by it in his Value.able investing strategy. Read here.
This article was published on 3 May 2012.
by Roger Montgomery Posted in Companies, In the Press, Investing Education.
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Uncovering the best value stocks
Roger Montgomery
May 2, 2012
In this 2 May 2012 ASX Investor Hour presentation, Roger explains that while many investors focus solely on price, he (like Warren Buffett) selects his stocks, to buy or to sell, by comparing their current price to the value he ascribes to them. Roger discusses about his value principles and the technology he uses to filter stocks (www.skaffold.com). Watch video here and view slides here.
by Roger Montgomery Posted in Insightful Insights, Investing Education, Skaffold, TV Appearances.
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How will the interest rate cut affect Housing prices?
Roger Montgomery
May 2, 2012
Learn Roger Montgomery’s Value.able insights into the latest 50 basis point cut in the the base rate and how it may impact housing prices in this interview with ABC The Business’ Ticky Fullerton broadcast 2 May 2012. Watch here.
by Roger Montgomery Posted in Energy / Resources, Financial Services, Investing Education, TV Appearances.
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What are the characteristics of Sustainable Competitive Advantage?
Roger Montgomery
May 1, 2012
Roger Montgomery discuss how Sustainable Competitive Advantage is the platform for exceptional company performance in this Money Magazine article published in May 2012. Read here.
by Roger Montgomery Posted in Insightful Insights, Investing Education, On the Internet, Value.able.