Whitepapers
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WHITEPAPERS
Quality’s performance across the business cycle
Polen Capital
November 17, 2022
Quality stocks have been shown in studies to have robust historical performances.1 This analysis takes a deeper look into the Quality factor’s performance by breaking out its history into the four stages of the business cycle: Early, Mid, Late, and Recession. continue…
by Polen Capital Posted in Polen Capital, Whitepapers.
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WHITEPAPERS
Are we there yet? What to do when the bottom of the market is unknown
Roger Montgomery
August 22, 2022
The current equity market environment reflects soaring inflation, increasing interest rates and the first half of calendar year 2022 saw a double-digit decline in most major indices. continue…
by Roger Montgomery Posted in Editor's Pick, Whitepapers.
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WHITEPAPERS
Investing in the age of transformation
Polen Capital
July 21, 2022
Over the past two years, the evolution of the pandemic has been the leading force dictating the path of the global recovery. Despite the many challenges still present, Polen Capital believe that several secular trends that were already in motion before COVID-19 will continue to shape the world around us and play an important role in defining tomorrow’s leading businesses. In this whitepaper, Polen Capital look at what they view as some of the most important secular growth themes that may reshape the world over the next decade. continue…
by Polen Capital Posted in Polen Capital, Whitepapers.
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WHITEPAPERS
Value and Growth: Two sides of the same coin
Roger Montgomery
April 28, 2021
One of today’s big debates is whether share markets are falling out of love with so-called ‘growth’ stocks and falling back in love with ‘value’ stocks. It can be worth paying attention to broad shifts in sentiment, but I think there is little utility in trying to divide stocks into these two arbitrary categories. Instead, it is better to simply focus on investing at rational prices in extraordinary businesses that have bright prospects. continue…
by Roger Montgomery Posted in Editor's Pick, Whitepapers.
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WHITEPAPERS
The eighth wonder of the world and the Montgomery Small Companies Fund
David Buckland
November 19, 2020
While small capitalisation companies generally involve more risk because of their lower liquidity, their greater sensitivity to managements’ influence, and their greater sensitivity to economic conditions, they have proven over a long time horizon to be a rewarding asset class to allocate capital – preferably for patient investors who grasp the power of compounding. continue…
by David Buckland Posted in Editor's Pick, Whitepapers.
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WHITEPAPER
ARE WE THERE YET? WHAT TO DO WHEN THE BOTTOM OF THE MARKET IS UNKNOWN
Roger Montgomery’s latest whitepaper is now available. It explores the challenges of investing when no one knows whether equity markets have reached the bottom of the latest volatility cycle. The paper offers a framework to help you navigate today’s market and invest in quality, profitable companies with growth potential.
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WHITEPAPERS
Investing in pandemic markets
Roger Montgomery
April 22, 2020
Stuck with one per cent returns on cash balances, investors migrated to equities for their superior yields and hoped-for capital gains. What was forgotten in the mad dash for a better return, was that ‘one per cent is better than minus twenty.’ continue…
by Roger Montgomery Posted in Whitepapers.
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WHITEPAPERS
Is it time to rebalance your retirement portfolio?
Roger Montgomery
February 19, 2020
In the current environment of ultra-low interest rates, generating enough income for retirement can be challenging. Instead of being able to add to their nest egg, many retirees find themselves needing to withdraw capital to make up a shortfall between their lifestyle requirements and their income. Meanwhile, if you receive income from an annuity, those payments will also come from the capital in your investment portfolio. With less capital available it becomes harder to weather market volatility. continue…
by Roger Montgomery Posted in Whitepapers.
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WHITEPAPERS
Why invest in a market neutral fund
Tim Kelley
May 20, 2019
One of the things that characterises sophisticated investors is the way they use investment strategies that are designed to produce returns uncorrelated with equity market returns. continue…
by Tim Kelley Posted in Whitepapers.
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WHITEPAPERS
Is this another diversification trap?
Roger Montgomery
November 9, 2018
In the wake of the global financial crisis (GFC), index ETFs were meant to offer risk-averse investors a safe and easy way to gain diversification. But nine years into the global market’s bull run, they appear to be pushing US tech stocks into unrealistic valuations in ways that may end badly for many. continue…
by Roger Montgomery Posted in Whitepapers.
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WHITEPAPERS
A fork in the road
Roger Montgomery
April 9, 2018
We are value investors for many reasons, one of which is that establishing an estimated intrinsic value provides an anchor or a solid point of reference from which the turbulence of markets can be viewed dispassionately. continue…
by Roger Montgomery Posted in Editor's Pick, Whitepapers.
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