Market commentary
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Where to invest if inflation takes hold
Roger Montgomery
November 5, 2021
Will inflation be transitory or more long lasting? Right now, the jury is out, and only time will tell. But the signs do not look good due to surging energy prices, supply bottlenecks and worker shortages. My advice is to focus on high quality companies with real pricing power. continue…
by Roger Montgomery Posted in Global markets, Market commentary.
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- POSTED IN Global markets, Market commentary
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Two businesses to put in your Christmas stocking
Roger Montgomery
October 29, 2021
At the Montgomery Small Companies Fund, our small caps team’s approach is to invest in businesses that benefit from supportive underlying themes. Two themes we like right now are what we call Stable Compounders and Structural Winners. And we have two preferred stocks – one in each theme – that we think will provide solid long-term returns. continue…
by Roger Montgomery Posted in Companies, Editor's Pick, Market commentary, Stocks We Like.
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Did JobKeeper waste $40bn of public money?
Andreas Lundberg
October 27, 2021
Australia’s Department of the Treasury has just released a report into the JobKeeper Payment scheme. It shows that vast sums of money were transferred from taxpayers to companies that – in hindsight – should not have qualified for assistance. This includes almost $14 billion to businesses whose turnover increased during the lockdowns. This mis-use of taxpayer money leaves me with three big questions. continue…
by Andreas Lundberg Posted in Market commentary.
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Timely reminder of investing insights from Howard Marks – Oaktree
Scott Phillips
October 19, 2021
I was fortunate to recently hear from the legendary investor Howard Marks, one of the co-founders of Oaktree Capital* who gave the opening keynote address at the annual CFA Societies Australia Conference. Listening to his presentation was informative as always and I thought I’d share with everyone some of his key takeaways relating to today’s investing environment and ultimately successful investing. His presentation was titled” “Value Investing: A New Look.” continue…
by Scott Phillips Posted in Global markets, Market commentary.
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Should we import cheap foreign workers, or pay locals more?
Andreas Lundberg
October 15, 2021
The reliance of many Australian industries on cheap imported labour is highlighted by a recruitment drive currently underway in the UK to entice 500 hospitality workers with the promise of free flights, drinking and dining vouchers, and paid hotel quarantine. But is this reliance on foreign workers in the national interest? Or, given the high unemployment rate, would it be better to attract local workers by paying them more? continue…
by Andreas Lundberg Posted in Editor's Pick, Market commentary.
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An update of markets and commodities to 30 September
David Buckland
October 1, 2021
Given the sell-off in bond yields so far this year, rising inflationary expectations, and the collapse of the Evergrande Group in China, it is unsurprising many global share market indices took a breather and recorded a lacklustre September 2021 quarter in terms of performance. Of the major markets, the Hong Kong Hang Seng Index was down 14.4 per cent whilst the Indian Sensex Index was up by 12.0 per cent. continue…
by David Buckland Posted in Market commentary.
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How Macquarie’s Ric Deverell sees key macro trends playing out
Roger Montgomery
September 27, 2021
Ric Deverell is the highly respected Chief Economist and Global Head of Macro Strategy at Macquarie Group. So when he talks, it pays to listen. Last week, he presented his observations on macro issues like global economics and inflation, the pandemic, the Australian economy, China and the bond market. Here are the key take-outs from his presentation. continue…
by Roger Montgomery Posted in Editor's Pick, Global markets, Market commentary.
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Four reasons why rates will stay lower for longer
Roger Montgomery
September 22, 2021
A September research note by Macquarie Bank supports what we’ve been thinking for a while: that interest rates are set to stay low well into the future. And if we are correct, it means this market – toppy as it seems – has further to run. continue…
by Roger Montgomery Posted in Market commentary.
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Are we likely to see a correction or crash from the COVID-19 situation?
Roger Montgomery
September 13, 2021
Crashes tend to occur when investors are surprised by something. The unexpected or the ‘black swan’ event is what triggers fear and financial protectionism among investors. There are several reasons why I believe investors can be optimistic about the market over the next year or so, notwithstanding a temporary pull-back of 10-15 per cent is always possible and should be considered a normal part of every investors journey. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Three reasons why I am still bullish on this market
Roger Montgomery
September 10, 2021
Over the past 12 months, the All Ordinaries index and the S&P 500 have risen around 26 and 35 per cent, respectively. Not bad when you consider the economic ravages of the COVID-19 lockdowns. But despite these strong performances, there are three good reasons to believe sharemarkets will continue to climb over the coming year. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
