Market commentary
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Why our soaring market still looks ok to me
Roger Montgomery
December 3, 2020
Are share markets cheap or expensive right now? Well, it depends who you ask. And there are plenty of people happy to offer their opinion. But at the risk of adding to this largely irrelevant discussion (after all, we buy shares in companies, not ‘the market’) here’s my take. Please feel free to comment – I’d love to read your views as well. continue…
by Roger Montgomery Posted in Market commentary.
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Looking across the earnings valley
David Buckland
November 20, 2020
Those companies which record the largest retreat in profitability during a recession often see the biggest rebounds in subsequent years. Company reports and consensus Earning Per Share (EPS) estimates for the US S&P500 market points to a similar experience for this cycle. continue…
by David Buckland Posted in Market commentary.
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Winners and losers from vaccine announcements
Joseph Kim
November 17, 2020
In a year full of big moves and volatile share prices, last Tuesday saw one of the biggest disparities in the share price performance of the so called “growth vs value” stocks. The spark was the announcement from the Pfizer and BioNTech’s vaccine, which led to a significant rotation into the traditional “value” stocks, funded largely by profit taking in many growth stocks. continue…
by Joseph Kim Posted in Companies, Market commentary.
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- POSTED IN Companies, Market commentary
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How Pfizer’s vaccine will affect stocks in your portfolio
Roger Montgomery
November 12, 2020
Wow, what a week! Pfizer announces it has a vaccine almost set to go, and hasn’t the market reacted! Happily for our investors, The Montgomery Fund has already pivoted towards a post-pandemic world: we’ve cut cash to a record low and invested in some businesses beaten down by enforced lockdowns. continue…
by Roger Montgomery Posted in Global markets, Market commentary.
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Why growth stocks could keep rising
Roger Montgomery
October 27, 2020
The share prices of growth companies – particularly quality businesses such as the much heralded FAAMGs – have been on a tear since March. How much further could they go? Well, quite a bit further I think, if rates stay low and governments keep providing financial support. continue…
by Roger Montgomery Posted in Global markets, Market commentary.
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Cuts to COVID-19 relief will show us how bad things really are
Andreas Lundberg
October 23, 2020
Over the next few months we’ll see cuts to COVID-19 relief. These cuts will adversely impact the ability of many households and businesses to repay their loans. But just how many remains to be seen. The banks – and their shareholders – will be hoping for the best, and keeping their fingers crossed. continue…
by Andreas Lundberg Posted in Market commentary.
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3 places to invest as interest rates head south
Roger Montgomery
October 19, 2020
With interest rates heading to zero, keeping your money in the bank has become a poor way to increase – or even preserve – your wealth. A better strategy, I believe, is a well-chosen portfolio of stocks. In this blog, I highlight three types of businesses that should provide compelling returns in the years to come. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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To Vaccinate your portfolio or not?
Roger Montgomery
October 15, 2020
How to position portfolios for a potential (but not certain) vaccine is currently front of mind here at Montgomery. A vaccine feeds into the ‘reopening’ theme as well as the narrative about a broader economic recovery and companies that are leveraged to it – the ‘economic sensitives’. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Why you shouldn’t be spooked by the rise of zombie companies
Roger Montgomery
September 30, 2020
Are you concerned about the increasing number of zombie companies and a looming tech bubble? Well, perhaps the situation is not as worrying as it seems. With governments and central banks continuing to pump money into the economy, share prices could be held aloft for some time yet. continue…
by Roger Montgomery Posted in Global markets, Market commentary.
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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.
