Getting there is half the fun
If I offered you two hypothetical opportunities to make 50 per cent, what additional questions would you ask to work out which was the superior offering?
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Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Chris
:
Roger,
Speaking of international exposure, the Treasurer has announced his plans for the GST on international purchases made online, “to give Australian businesses a fair go” because of being hurt by competition from overseas.
It has nothing to do with this. It has everything to do with the fact that the Feds are broke and are clawing back money, but this move is well and truly after the horse has bolted.
The dollar will not be going back near parity any time soon (thanks to commodity prices being where they are) and the $AUD will fall further, probably to around 60 US cents and against other currencies too.
No one will be buying online anywhere near the same volume as they were doing, purely because of the AUD weakness and the fact that the same purchase is now more expensive. After the fact, the Treasurer will then proclaim that “this move is working” because imports (versus exports) are down and the ratio decreases…despite the fact that exports probably haven’t gone anywhere.
This is all regardless of the other side of the coin, the fact that if I want to buy something that is not made or readily sold here, I have to buy it online. There’s no competition with an existing Australian business, because they don’t sell it, therefore, how can they be hurting in that particular case ?!
Roger Montgomery
:
Hope you’re right on the AUD. And very good insight on the spin that will be spun when consumer online imports slump.