Market commentary
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The key investment trends in FY16
Scott Phillips
January 16, 2017
The 2016 financial year saw some significant changes in investment in Australia. There were major movements in relation to global shares, fixed interest, global property and infrastructure, and alternatives. We can learn a lot by looking at where the money flowed. continue…
by Scott Phillips Posted in Market commentary.
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The answer is blowing in the wind
Roger Montgomery
December 20, 2016
With thanks to Bob Dylan, a reading of the minutes to the December RBA’s board meeting reveals there’s a change in the wind. Typically, what we were taught in economics about Australia’s Monetary Policy has been precisely how the RBA applied its levers. Inflation and economic growth determined the changes in the settings. continue…
by Roger Montgomery Posted in Market commentary.
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Where to find the best returns for 2017
Roger Montgomery
December 12, 2016
Humans are notoriously bad at picking turning points. We tend to believe the future will look like the recent past. That’s why so many investors make decisions about the future by looking in the rear view mirror. However, I believe the best returns over the next few years will come from buying high quality, high growth companies – many of which are now at beaten-down prices.
continue…by Roger Montgomery Posted in Editor's Pick, Market commentary.
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Buyer beware: rising rates could send low-growth big caps into reverse
Roger Montgomery
December 9, 2016
After an extended period in the doldrums, interest rates are finally on the rise. As I’ve written before, this could have a momentous effect on asset prices. And most at risk will be those who have accumulated immense debt, and investors who have bought shares in low-growth big caps. continue…
by Roger Montgomery Posted in Market commentary.
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It’s time to take advantage of mis-priced stocks
Tim Kelley
November 30, 2016
If the current market is shaking your confidence, don’t worry – you’re not alone. Right now we’re seeing many lower quality businesses being bid higher, while high quality businesses are getting hammered. Is this a rare opportunity to take advantage of mis-priced securities? We think so, provided you’re willing to ignore market noise and think longer term.
continue…by Tim Kelley Posted in Market commentary.
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So bond rates are not ‘lower for longer’
Roger Montgomery
November 28, 2016
For most of 2016, we have warned investors about the dangers of accepting historically low bond rates as the ‘new normal’. The reality is that US 10-year rates lower than at any time since George Washington was sworn in as the first President of the United States is anything but normal.
continue…by Roger Montgomery Posted in Market commentary.
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Quality Inversion
Tim Kelley
November 25, 2016
The Australian equity market has been unfriendly to our style of investing recently. We knew before we stepped onto the field that there would be years when we generated very large excess returns and years when we would suffer, but even when you know they will happen, the bad years are always painful when they occur. continue…
by Tim Kelley Posted in Market commentary.
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Make no mistake, rising bond yields are bad for assets
Roger Montgomery
November 24, 2016
Right now, many investors are probably patting themselves on the back, having profited from a booming property market and the makings of a resurgent share market. But there is an elephant in the room – rising bond yields. And they could bring the party to an abrupt end. continue…
by Roger Montgomery Posted in Market commentary.
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When companies ask for your money, first read the fine print
Ben MacNevin
November 23, 2016
Hands up if you read the fine print when you receive a company prospectus. Odds on, your hand is still down. Because the sad fact is most of us have a terrible habit of ignoring the fine print. Put it down to lack of time, a trusting nature, or lack of expertise. Either way, it can be a costly mistake – you need to know what you are about to buy. continue…
by Ben MacNevin Posted in Market commentary.
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The long and the short of it; shares or property, or something else?
Scott Phillips
November 21, 2016
We recently held a webinar for those people who had shown interest in the two alternative investment solutions that we offer here at Montgomery, being; the Montaka Global Access Fund and recently launched Montgomery Alpha Plus Fund.
continue…by Scott Phillips Posted in Market commentary.
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