Investing Education
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Investing my personal super in the Montgomery Small Companies Fund
Dean Curnow
November 2, 2020
A question we often get asked at the Montgomery office is whether one can invest their personal super directly in our suite of strategies. Whilst Montgomery is a specialist equity investment manager with an Australian Financial Services License (AFSL), we are not a super trustee. A super trustee therefore sits as an access medium between investors and investment managers, and on this basis have a unique set of responsibilities. continue…
by Dean Curnow Posted in Investing Education.
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How to assess the value of stocks with extreme PE multiples
Roger Montgomery
October 28, 2020
You’ve probably heard bullish commentators argue that declining interest rates explain, and justify, the extraordinary price to earnings (PE) multiples being paid for growth stocks. Many of these commentators also maintain that, because rates are going to stay lower for longer, these stocks are a defensive, sensible, and even safe investment. But are they right? continue…
by Roger Montgomery Posted in Editor's Pick, Investing Education.
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Is it worth investing in bonds with yields so low?
Scott Phillips
October 16, 2020
The typical balanced portfolio being a 60/40 mix of growth assets to defensive (bonds) has been a mainstay of investors for many decades. But with 10-year Australian government bond yields at just 0.84 per cent and inflation running somewhere around 1.8 per cent (as seen in Figure 1), the return you get on the yield from your risk free Australian 10 year treasury bond is trailing inflation by around 1 per cent per annum. continue…
by Scott Phillips Posted in Investing Education.
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What do low interest rates mean for equity markets?
Tim Kelley
September 29, 2020
The last 30-40 years has seen a dramatic shift down in interest rates for much of the developed world. For example, the ten-year government bond yields in Australia and the US have declined from around 14 per cent in the early 80s to more recently lie somewhere not unadjacent to zero. continue…
by Tim Kelley Posted in Investing Education, Market commentary.
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The three essential criteria to look for in a business
Roger Montgomery
August 26, 2020
Investing isn’t easy. With so many businesses to evaluate, and so many conflicting opinions about them, it can be extremely hard to make sound investment decisions. To help you in your investment journey, here are the three essential criteria we use when looking for outstanding businesses to invest in. continue…
by Roger Montgomery Posted in Investing Education.
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The magic that happens when companies invest in their business
Roger Montgomery
August 21, 2020
I love receiving dividends. Who doesn’t? But companies that pay out a high percentage of their profits are actually harming the long-term returns of their investors. Because, when it comes to making a company more valuable, paying out high dividends is no match for ploughing profits back into the business. continue…
by Roger Montgomery Posted in Investing Education.
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How to think like an investor – and not a gambler
Roger Montgomery
August 21, 2020
If gambling on shares is your thing, then perhaps this blog is not for you. On the other hand, if what you want are sustainable, growing returns – over the long term – then read on. Because, below, I set out some simple steps to help you make better investment decisions. continue…
by Roger Montgomery Posted in Investing Education.
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Is value investing poised to do well?
Tim Kelley
August 5, 2020
One of the most fundamental dichotomies that can be drawn in equity markets is the one that separates “value” from “growth”. In simple terms, you pick a basic metric – say price to earnings ratio – and you divide the market up into those stocks with a PE ratio above the average (growth stocks) and those with a PE ratio below the average (value stocks). continue…
by Tim Kelley Posted in Investing Education.
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Investment platforms: more than just an admin tool
Dean Curnow
July 16, 2020
Investment platforms are many things, from an administration tool for advisers and the end investor, to a world of wrapped investment options only previously presented to SMSF’s with both strong paperwork skills and large balances. continue…
by Dean Curnow Posted in Investing Education.
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Freedom Foods shows why it pays to check a firm’s cash-flow
Joseph Kim
July 2, 2020
Ignoring a firm’s operating cash-flow conversion for a period of time can be very risky. Particularly during a period of business stress, like we have right now. The most recent example of this is with Freedom Foods (ASX: FNP), which was recently put in a trading halt pending an investigation into its financial position – but not before its share price dived 14 per cent.
continue…by Joseph Kim Posted in Companies, Investing Education.
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