Market commentary
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Why investing fads can end in tears
Roger Montgomery
September 11, 2017
Back in the 1960s, a group of companies listed on the New York Stock Exchange called the Nifty Fifty grabbed the attention and dreams of a generation of savvy investors. As we know, investing in the Nifty Fifty ended badly for many of them, and showed the downside of investing fads.
continue…by Roger Montgomery Posted in Global markets, Market commentary.
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Why this bull market may have further to run
Roger Montgomery
September 4, 2017
David Tepper, the billionaire hedge fund manager and founder and president of Appaloosa Management, doesn’t share the bearish views of his hedge fund peers such as Gundlach, Dalio and Howard Marks. In fact, he is quite certain that this market has further to run. continue…
by Roger Montgomery Posted in Market commentary.
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Why they’re pessimistic about this market
Roger Montgomery
August 23, 2017
You may be surprised to know that our largest position by far is cash. And that’s because we’re not finding value among the quality businesses we like to own. In value investing, patience can be a virtue, and we think holding cash will pay off handsomely. But, of course, not everyone will agree with us. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Economic data paints a mixed picture of the Australian economy
Stuart Jackson
August 18, 2017
Recent data indicates that Australia could be about to enter a period of lower economic growth. While there’s been a surge in business investment and stronger conditions in the resources states, it’s unclear if this can offset weaker consumer spending and residential construction. continue…
by Stuart Jackson Posted in Market commentary.
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It’s time to be prudent as the end of the boom draws closer
Roger Montgomery
August 15, 2017
The increasing flow of money into riskier ‘investments’ is making us ever more cautious. After all, every boom must come to an end. So what does holding high levels of cash mean? In the short term, it may mean we lag some of our peers. But, longer term, we are convinced it will prove a very sound approach. continue…
by Roger Montgomery Posted in Market commentary.
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WHITEPAPER
INTEREST RATES, THE BEST IT GETS. IT’S TIME TO DEPLOY CASH
Curious about the investment landscape in 2024? It appears that the current market offers a plethora of enticing opportunities for investors, a rarity not experienced since pre-pandemic times. This unique scenario stems from a confluence of factors, including elevated yields and comparatively rational equity valuations.
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The disruption with forever consequences
Roger Montgomery
August 11, 2017
By now, we’re all well versed on the subject of Amazon disrupting retail, Aldi disrupting supermarkets and fintechs disrupting banking (admittedly to a significantly lesser extent). However, the most significant disruption is occurring right under our noses without us really noticing. continue…
by Roger Montgomery Posted in Market commentary.
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Time for caution as the Dow hits 22,000
David Buckland
August 10, 2017
In just five years, spurred on by emergency low interest rates, the Dow Jones Industrial Average has raced from around 13,000 to 22,000 points. Little wonder some market analysts are saying US stocks are now in ‘nose-bleed’ territory. And this is borne out by key valuation indicators. continue…
by David Buckland Posted in Market commentary.
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Which companies could disappoint the market?
Roger Montgomery
July 31, 2017
As we’re on the cusp of reporting season, it’s a good time to look at the companies and market sectors that may soon be under pressure – in particular, those that could be affected by the record levels of debt held by Australian households. continue…
by Roger Montgomery Posted in Market commentary.
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What will be of FY2018?
Roger Montgomery
July 25, 2017
With the 2018 financial year underway, it’s worth examining the forces that could determine whether the Australian stock market repeats its circa 13% return of 2017. continue…
by Roger Montgomery Posted in Market commentary.
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A random walk, a pattern in the making or businesses as usual?
Scott Phillips
July 21, 2017
As we pass through another financial year we can stop, record the data and reflect on what has transpired to try make sense of it. Reflecting on this financial year just past, it may be helpful to look at the returns of the major asset classes over this year and then for the last 20. Morningstar produce a neat checker board visual (Chart 1) for each of the major asset classes that Australian investors typically invest in. The glaringly obvious admission here is direct residential property but let’s not let that stop us. continue…
by Scott Phillips Posted in Market commentary.
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