Market commentary
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It pays to pick the right industry
George Hadjia
September 27, 2019
Peter Lynch, the legendary investor, once quipped that it’s best to invest in businesses that any idiot could run, because sooner or later one will. This begs the question of what drives the economic returns of businesses: is it the competitive forces of that industry or the skill of management? It’s likely a combination of both. continue…
by George Hadjia Posted in Investing Education, Market commentary
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What if interest rates don’t go to zero?
Roger Montgomery
September 24, 2019
When it comes to investing, it can often pay dividends to zag when everyone else is zigging. And that’s equally so when it comes to interest rates. At a time when everyone is assuming that rates will go to zero – and possibly beyond – it may be worth stepping back and pondering… what if they don’t? continue…
by Roger Montgomery Posted in Market commentary
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Anatomy of the Australian Small Cap Market – a focus on Growth
David Buckland
September 18, 2019
In reference to Monday’s blog Gary Rollo, Portfolio Manager for the Montgomery Small Companies Fund, makes some very interesting points regarding the anatomy of the Australian small cap market with respect to the “Growth” sector. continue…
by David Buckland Posted in Investing Education, Market commentary
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The Anatomy of the Australian Small Cap Market
Gary Rollo
September 16, 2019
We like small companies with strong growth potential, especially if they are relatively undiscovered. In this article, we share the four segments we use to classify the small-cap universe. continue…
by Gary Rollo Posted in Investing Education, Market commentary
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Aussie cash rates down from 6% to 1% since the GFC
David Buckland
September 10, 2019
In this week’s video insight David takes a look the journey of interest rates. Over the decade since the Global Financial Crisis – and despite record low interest rates – Central banks are fighting a relatively low growth and low inflation environment, and they don’t seem to be winning. Why?
by David Buckland Posted in Global markets, Market commentary, Video Insights
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When is the top really the top?
Lachlan Mackay
September 9, 2019
Forecasting peaks of cycles is notoriously difficult, and while it may feel like we’re reaching the top, evidence suggests there is still plenty of room to grow. continue…
by Lachlan Mackay Posted in Market commentary
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As the range gets wider, investing gets harder
Andrew Macken
September 9, 2019
There are lots of things that could happen; but only one thing that will happen. This is one of the better articulations out there of the concept of risk. Understanding risk is at the core of any investment because substantially all investments could result in a range of possible outcomes. Sometimes that range is narrow and sometimes that range is wide. continue…
by Andrew Macken Posted in Global markets, Market commentary
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What did the August 2019 reporting season tell us?
Andreas Lundberg
September 3, 2019
Phew! So much anticipation. So much data to digest. One early conclusion to draw from reporting season is that consumer spending isn’t very healthy. Taking a look at the sector breakdown, consumer discretionary and consumer staples were the worst off. continue…
by Andreas Lundberg Posted in Market commentary
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How long can the market’s ‘consensual hallucination’ go on?
Roger Montgomery
September 3, 2019
When I look at some of the absurd valuations of profitless companies – both here and in the U.S. – I wonder if the market is suffering from some form of consensual hallucination. I also wonder how long this induced state of bliss can go on. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary
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Infrastructure needs and the migration debate
Andreas Lundberg
August 19, 2019
Federal government moves to re-assess Australia’s high immigration rate could lead to a cut in migrant numbers. This is potentially bad news for the nation’s property and infrastructure developers. continue…
by Andreas Lundberg Posted in Market commentary
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