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I joined Jess Maguire on ABC Statewide Drive to unpack the key lessons from the 2026 reporting season. We discussed why results were generally better than feared, the importance of revenue growth over cost cutting, the volatility across individual companies, and what the results could signal for the year ahead.

Tune in from 1:45:36 here: ABC Statewide Drive

by Roger Montgomery Posted in Insightful Insights, Market commentary, Market Valuation, Radio, Technology & Telecommunications.

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• POSTED IN Insightful Insights, Market commentary, Market Valuation, Radio, Technology & Telecommunications

On Ausbiz today, I discussed why the artificial intelligence (AI) boom may be reaching a crossroads. I looked at the enormous capital being deployed by hyperscalers, falling free cash flow and rising depreciation, and why growing competition and higher funding costs could make it increasingly difficult for these companies to generate sufficient returns on their AI investment.

Watch here: The AI spending spree investors should fear

by Roger Montgomery Posted in Economics, Editor's Pick, Insightful Insights, Investing Education, Market commentary, Market Valuation, Technology & Telecommunications, TV Appearances.

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• POSTED IN Economics, Editor's Pick, Insightful Insights, Investing Education, Market commentary, Market Valuation, Technology & Telecommunications, TV Appearances

Australia’s FY26 reporting season looked reasonably strong on the surface, with aggregate profits rising by around 11.6 per cent. But underneath the headline numbers, the recovery was much narrower – and investors were often more interested in what companies said about FY27 than the profits they had just reported.

I speak with Michael Thompson from Fear + Greed, about my 10 lessons from reporting season. We discuss why consumers are still spending but demanding value, expensive bank valuations, the limits of cost-cutting, opportunities in healthcare and why stock selection is becoming increasingly important. continue…

by Roger Montgomery Posted in Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Market commentary, Market Valuation, Podcast Channel, Popular.

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• POSTED IN Economics, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Market commentary, Market Valuation, Podcast Channel, Popular

In my article for The Australian, I look at why many Australians are feeling worse off despite the economy continuing to grow. Rising living costs, expensive housing and weak productivity are making it increasingly difficult for households to get ahead.

I also discuss how government decisions around housing, taxation and spending may be adding to these pressures, with younger Australians in particular facing higher rents, falling affordability and greater financial strain.

Download the article here: Labor’s economics making us all poorer continue…

by Roger Montgomery Posted in Economics, Editor's Pick, In the Press, Market commentary.

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• POSTED IN Economics, Editor's Pick, In the Press, Market commentary

I joined Jess Maguire on ABC Statewide Drive to discuss why traditional approaches to diversification may no longer offer investors the same protection they once did. We explored how persistent inflation has changed the relationship between shares and bonds, the growing concentration of global share markets in a handful of artificial intelligence (AI) linked companies, and why investors may need to diversify beyond traditional asset classes and markets by considering a broader range of investment strategies.

Listen to the full segment from 1:46:20 – ABC Statewide Drive continue…

by Roger Montgomery Posted in Economics, Insightful Insights, Investing Education, Market commentary, Market Valuation, Radio.

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I joined Juliette Saly on Ausbiz to discuss why traditional approaches to diversification may no longer provide the same protection for investors. We explored persistent inflation, growing concentration in equity markets, the risks emerging around AI and hyperscaler spending, and why investors may need to look beyond the traditional 60/40 portfolio towards alternative strategies, including private credit.

Watch the full episode on Ausbiz here: Why Roger thinks 60/40 diversification is dead continue…

by Roger Montgomery Posted in Aura Group, Economics, Investing Education, Market commentary, TV Appearances.

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In my latest article for The Australian, I explore the growing risks facing global markets as cracks emerge across technology, fixed income and inflation. With artificial intelligence (AI) investment increasingly circular, government debt climbing and inflation remaining stubborn, investors may need to prepare for a more volatile and challenging market environment.

Download here: Global markets face reckoning as triple threat fractures appear continue…

by Roger Montgomery Posted in Editor's Pick, In the Press, Insightful Insights, Market commentary, Market Valuation.

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I joined Jess Maguire on ABC Statewide Drive to discuss the Big Mac Index and how it uses the concept of purchasing power parity to assess whether currencies appear overvalued or undervalued. We also explored why the index has limitations as a measure of fair value, what it suggests about the Australian dollar, and the important differences between market pullbacks, corrections and crashes, highlighting why short-term volatility is a normal part of investing.

Listen in from 1:47:03: ABC Statewide Drive

by Roger Montgomery Posted in Economics, Radio.

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I joined Juliette Saly on Ausbiz to discuss the next phase of the artificial intelligence (AI) investment cycle and the growing divergence between the companies building AI infrastructure and the hyperscalers funding it. We explored the risks posed by mounting AI capital expenditure (capex), weakening cash flows, the emergence of lower-cost Chinese AI models and what could happen if hyperscalers begin slowing investment. We also discussed why investors may benefit from looking beyond momentum-driven technology stocks towards high-quality, value-oriented businesses and other defensive assets.

Watch the full episode on Ausbiz here: Who really wins from the AI boom? continue…

by Roger Montgomery Posted in Economics, Global markets, Investing Education, Manufacturing, Market commentary, Market Valuation, Technology & Telecommunications, TV Appearances.

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I joined Kylie Morris on ABC Newcastle Mornings to discuss the recent increase in market volatility and the shift underway beneath the surface of equity markets. We explored how years of momentum-driven investing and record inflows into index funds have fuelled the outperformance of a handful of large technology stocks, and why that trend may now be reversing. We also discussed the next phase of the artificial intelligence (AI) investment cycle, where investors are becoming more selective about which businesses are likely to benefit, as well as the sharp correction in South Korea’s technology sector as a reminder of the risks that can emerge when markets become concentrated.

Tune in from 33:30 here: ABC Newcastle Mornings continue…

by Roger Montgomery Posted in Economics, Insightful Insights, Market commentary, Market Valuation, Radio.

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