Market commentary
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How changes in the AUD affect global-facing businesses
Stuart Jackson
October 5, 2017
The gyrations of the Aussie dollar are a constant focus of media attention. And well they might be. Because, apart from reflecting our national economic health, the strength of the Aussie dollar relative to other currencies has a big impact on exporters, and on businesses that generate earnings overseas. continue…
by Stuart Jackson Posted in Foreign Currency, Market commentary.
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- POSTED IN Foreign Currency, Market commentary
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Red flags are everywhere, making us anxious about this market
Roger Montgomery
September 28, 2017
According to the Bank of International Settlements, there are now more margin loans supporting buying in the US stock market than during the tech boom of 1999/2000. And those loans are chasing an ever-narrowing band of tech stocks on the back of a ‘fear of missing out’. This is just one of the many red flags making us nervous right now. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Why investing in new tech businesses can be a gamble
Roger Montgomery
September 14, 2017
When you look at the success of tech titans like Google, Amazon, Apple and Facebook, it’s easy to think there’s only lots of money to be made investing in new technology companies – particularly those associated with the ‘creative destruction’ of incumbent businesses. But the truth about who wins from new technology can be eye opening. continue…
by Roger Montgomery Posted in Investing Education, 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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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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