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I joined ABC Weekend Breakfast to discuss the record-breaking SpaceX Initial Public Offering (IPO), which briefly pushed Elon Musk’s wealth beyond US$1 trillion and valued the company at more than US$2 trillion. We explored what drove the strong debut, why much of SpaceX’s revenue now comes from its AI and data centre businesses rather than its space operations, and how NASDAQ’s decision to fast-track the stock into its index could force ETFs and index funds to buy shares. We also discussed the potential impact of insider selling in the months ahead and what the IPO could mean for everyday investors. continue…

by Roger Montgomery Posted in Economics, Global markets, Market commentary, Popular, TV Appearances.

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The defining irony of today’s stock market has got to be the yawning chasm between asset prices and their intrinsic values. As equity indices scale ever higher peaks, and as hyper-parabolic Price-to-Earnings (P/E) and Price-to-Sales (P/S) ratios are normalised, the underlying truths don’t seem to have changed. Eventually even this bubble must bust.

U.S.-based senior economist at the Centre for Economic and Policy Research (CEPR) in Washington, DC, and author of the ‘AI Bubble Monitor’, and U.S.-based antitrust and policy analyst Matt Stoller reckon this dynamic can be attributed to something Stoller calls the “Number Go Up Rule”– a systematic rewiring of institutional incentives to ensure corporate valuations ascend at all costs, and frequently favouring speculative mania over fundamentally productive or socially additive enterprises. continue…

by Roger Montgomery Posted in Economics, Editor's Pick, Global markets, Insightful Insights, Investing Education, Market commentary, Popular.

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Bullish investors believe AI is a new, infinite fourth factor of a nation’s production and wealth creation. In the past, we had labour, capital and land as production inputs, all of which were, of course, finite. Land provided the raw materials, labour the muscle and the mind to transform them, and capital was the tool.

Enter AI. The transformative aspect of this fourth ingredient is that, unlike the physical limitations of land or the finite hours of the human workforce, data is a resource that is functionally unlimited. And, importantly, it’s the only factor of production that actually grows more abundant the more we use it.

This article was first published in The Australian on 27 May 2026.

by Roger Montgomery Posted in Editor's Pick, Global markets, In the Press, Insightful Insights, Investing Education, Market commentary, Market Valuation, Popular, Technology & Telecommunications.

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The 2026 Federal Budget has landed with some significant implications for investors.
I discuss the key economic indicators and the tax changes that are set to reshape the investment landscape.

Economy

The starting point is to expect higher global inflation and lower growth with the scale of impact dependent on the length and severity of the U.S./Iran war.

Growth in Australia is expected to slow to 1.75 per cent in 2026/2027.

Real wages are expected to go backwards again, which means living standards are expected to decline. continue…

by David Buckland Posted in Economics, Editor's Pick, Feature Article, Financial Services, Insightful Insights, Investing Education, Market commentary, Popular.

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How to maximise your savings with higher-yield funds with competitive returns and risk.

Looking to make your money work harder this year? Whether you’re looking to fund a better lifestyle, build your nest egg or simply grow some savings, you may want to read this article.

For many retirees – and particularly people who may be navigating their finances independently for the first time – the stock market can feel less like an ‘opportunity’, and more like a rollercoaster you never asked to board. When you are at a stage in life where preserving what you’ve built is as important as growing it, the daily ups and downs of the stock market can keep anyone awake at night.

The traditional “safe” bets, like term deposits, often fail to keep pace with the lifestyle you’ve worked so hard to earn. So, where do you turn when you want the yield of a high-performer but the stability of a fortress? continue…

by Roger Montgomery Posted in Aura Group, Insightful Insights, Investing Education, Popular.

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Many believe the era of easy investing is over and after several strong years in equity markets, opportunities are harder to find and valuations are less forgiving. So, with traditional 60/40 portfolios under pressure, investors are looking for diversification, income and resilience.

In this exclusive Ausbiz event, I joined Nadine Blayney for an in-depth discussion on equity alternatives and the strategies designed to help protect and grow your wealth.

We explored

• The importance of rebalancing in the current market environment
• How to think about diversification, income and resilience
• How private credit works – and why investors can use it for a reliable income stream
• High-frequency trading and arbitrage funds: historically the domain of proprietary trading firms and institutions, now accessible to investors
• Key risks and what to look for when assessing these types of strategies

continue…

by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Investing Education, Market commentary, Popular, TV Appearances.

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As we turn the page on 2025, it is a useful time to step back and reflect on what shaped markets over the year just passed. In this article, I review the key themes that influenced global equities, interest rates, commodities, and currencies, highlighting where investors were rewarded, where conditions became more challenging, and what these developments may mean as we look ahead. continue…

by David Buckland Posted in Insightful Insights, Market commentary, Market Valuation, Popular.

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In today’s volatile and uncertain market environment, many investors are looking beyond the traditional 60/40 portfolio of equities and fixed income to generate reliable returns.

There is growing interest in alternative investment strategies that can offer consistent income, lower volatility, and diversification from traditional asset classes.

That’s why we are delighted to introduce Digital Asset Funds Management (DAFM) as Montgomery Investment Management’s fifth investment partner – and the Digital Income Class, which we believe offers a compelling addition to, and a valuable diversifier within, an investor’s portfolio. continue…

by David Buckland Posted in Digital Asset Funds Management, Montgomery News and Updates, Popular.

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Investors have faced wave after wave of uncertainty – from fluctuating interest rates, persistent inflation and more recently, volatility driven by U.S. President Trump, Xi Jinping and Vladimir Putin.

While we can’t control these events, we can control where we invest.

That’s why we’ve launched a national campaign, developed with creative agency Mahlab, to spread awareness of the benefits of astutely managed private credit. continue…

by Roger Montgomery Posted in Aura Group, Feature Article, Montgomery News and Updates, Popular.

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Private credit is on the rise, capturing headlines and investor attention alike – but what’s driving the surge? In this conversation, I take us back to basics, cutting through the hype and fear to explain how private credit works, why it’s grown so rapidly, and what investors need to know to navigate the space wisely. From returns and risk to liquidity and diversification, this session dives into the real mechanics of this evolving asset class. continue…

by Roger Montgomery Posted in Aura Group, Popular, TV Appearances.

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