May 21, 2019
In this week’s video insight Roger takes a closer look at private equity. With interest rates declining over recent years, investors have fled from cash into fast growing start-ups. Although how can the multiples of these companies keep expanding if they are profitless?
by Roger Montgomery Posted in Video Insights
May 14, 2019
In this week’s video insight Tim takes a closer look at the recent developments relating to the TPG-Vodafone merger. Last week the ACCC announced that it has decided to block the merger. Will they still proceed with attempting to build a network? continue…
by Tim Kelley Posted in Video Insights
May 8, 2019
In this week’s video insight Lachlan draws comparisons between the infamous dot.com bubble and today’s tech boom. Uber, Lyft, Airbnb, WeWork, Pinterest, Zoom, Slack, Chewy.com – the list of scheduled 2019 IPOs is long and continues to grow. Do investors understand how much risk comes with these companies? continue…
by Lachlan Mackay Posted in Video Insights
April 30, 2019
In this week’s video insight David takes a closer look at what the first 17 weeks of 2019 have brought for investors. Global interest rates have generally moved lower and we have seen a rally in the Chinese Shanghai Composite Index and the US Nasdaq Index. Fortunately, the Montgomery Global Fund is well exposed to both of these themes.
by David Buckland Posted in Editor's Pick, Video Insights
April 16, 2019
In this week’s video insight Joseph discusses the recent share buy-back announcement of Pro Medicus (ASX:PME) and the impact to the company’s share metrics. Share buy-backs are often seen as a signal that the board views the current share price as undervaluing the company. Any buy-back using PME’s surplus cash may actually result in price earnings dilution given PME’s lofty 99x PE ratio.
by Joseph Kim Posted in Video Insights
April 9, 2019
In this week’s video insight Amit takes a closer look at the impact of artificial intelligence (AI), identifying the difference between supervised and unsupervised AI. Amit also discusses companies which are well placed to take advantage of the AI mega trend.
by Amit Nath Posted in Video Insights
April 3, 2019
In this week’s video insight, Stuart takes a closer look at off market share buy-backs. Earlier this week Woolworths announced an off market buy-back as the company returns the $1.7 billion received from the sale of its petrol business. One of the key assumptions is that the shareholder is able to utilise any capital losses created from selling into the buy-back. Although Stuart identifies some factors which will impact this. continue…
by Stuart Jackson Posted in Video Insights
March 26, 2019
In this week’s video insight Andrew and Chris provide a preview into our latest whitepaper. They explore the idea that stocks are not as risky as everyone thinks right now. Find out the reason behind this. continue…
by Andrew Macken Posted in Video Insights
March 20, 2019
In this week’s video insight Andreas takes a closer look at the impact of different management philosophies and trends. Delving into a case study on one of our holdings Spark New Zealand, the implementation of Agile working practices has decreased labour costs resulting in increased EBITDA margin. continue…
by Andreas Lundberg Posted in Editor's Pick, Video Insights
March 13, 2019
While APRA has not yet released the data for the December 2018 quarter for housing loan approvals, we can see September 2018 showed a 56 per cent decline of interest only loans approved. With investors less active and less foreign buyers, and new buyers at 17-years lows, it seems the real decline in residential building activity is yet to materialise as we look at the correlation between building approvals and building starts.
by Roger Montgomery Posted in Editor's Pick, Video Insights