Search Results for: thorn group
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How has Coronavirus affected you?
Andreas Lundberg
February 5, 2020
The Coronavirus has led to big changes in the way many people in China eat, work and move about. But what about here, in Australia? How has it affected the way you live, and have you noticed any changes in your workplace or the places you visit? I’d value your feedback. Continue…
by Andreas Lundberg Posted in Health Care, Market commentary, Tourism.
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Seven Group Holdings – small cap quality with three strengthening themes
Dominic Rose
February 5, 2020
If you’re searching for value in the Australian market, it may be worth taking a look at Seven Group Holdings (ASX:SVW). With a stable of businesses leveraged to mining, infrastructure and energy investment, we think the company will continue to provide robust returns for some time to come. Continue…
by Dominic Rose Posted in Companies, Stocks We Like.
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What’s behind the weak performance of quantitative investing?
Tim Kelley
February 3, 2020
Equity markets have been very kind to investors in recent years, with stock indices setting new records in Australia and overseas. Notwithstanding some episodes of turbulence along the way, these good results continue a decade-long run of mainly positive returns following the depths of the GFC in early 2009. Continue…
by Tim Kelley Posted in Investing Education.
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Farewell 2019, Hello 2020
David Buckland
January 2, 2020
After recording an excellent performance in the June 2019 half-year, both the US Nasdaq and S&P 500 led the way in the December 2019 half-year with a return of 12.1 per cent and 9.8 per cent, respectively, for a return over calendar 2019 of 35.2 per cent (US Nasdaq) and 28.9 per cent (S&P 500). And this excludes dividends. Continue…
by David Buckland Posted in Economics, Market commentary.
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2019 – the year in review
Joseph Kim
December 16, 2019
With the year coming to a close, I thought it would be interesting to look at 2019 in terms of some of the movements we saw in the ASX300 and its constituents. Continue…
by Joseph Kim Posted in Editor's Pick, Market commentary.
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A step change for Adairs
Dominic Rose
December 10, 2019
As small cap investors, we are constantly seeking money-making opportunities arising from change events. We look for the emergence of specific structural or cyclical factors which have the potential to open up new markets, drive earnings higher or alter market perceptions about business quality or valuation. Last week we were encouraged by news that one of our portfolio holdings, homewares retailer Adairs (ASX:ADH), had agreed to acquire fast-growing, pure-play online furniture retailer, Mocka. Continue…
by Dominic Rose Posted in Companies, Stocks We Like.
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Atlas Arteria says goodbye to the ‘silver doughnut’
Andreas Lundberg
November 26, 2019
Australian toll road operator, Atlas Arteria (ASX:ALX), has announced a new, simpler ownership structure that should benefit the company and its shareholders. The deal includes the separation from Macquarie Group – thus ending ongoing management fees to the ‘silver doughnut’ – and an increased stake in APRR, Europe’s fourth-largest motorway operator. Continue…
by Andreas Lundberg Posted in Companies, Stocks We Like.
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It’s time to speak out against China’s authoritarian policies
Roger Montgomery
November 20, 2019
Sorry to let ethics creep into my blog, but sometimes you just have to make a statement. You see, right now, China is carrying out highly repressive policies reminiscent of George Orwell’s Nineteen Eighty-Four. Given China’s global ambitions, these are scary times not just for Chinese people, but for all people who value freedom and democracy. Continue…
by Roger Montgomery Posted in Editor's Pick, Insightful Insights.
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With new car sales falling, what is AP Eagers really worth?
Roger Montgomery
November 19, 2019
AP Eagers’ (ASX:APE) share price has dropped around 30 per cent since 30 September. Unfortunately, there could be more pain ahead as the market digests the impacts of falling car sales and the wisdom of the Automotive Holdings Group takeover earlier this year. Continue…
by Roger Montgomery Posted in Companies.
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Industries most affected by the East Coast drought
Andreas Lundberg
November 19, 2019
The drought currently impacting much of eastern Australia is already having significant impacts on numerous businesses and industries. With the Australian Bureau of Meteorology forecasting drier than average conditions for the second half of November and December, it’s worth considering which industries could feel the most pain. Continue…
by Andreas Lundberg Posted in Companies, Investing Education.
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The investment case for EML just got stronger
Dominic Rose
November 18, 2019
EML Payments (ASX:EML), an Australian FinTech that specialises in digital gift cards and pre-paid cards, is a core holding in the Montgomery Small Companies Fund. Making EML even more compelling is the recent transformational acquisition of Prepaid Financial Services. Continue…
by Dominic Rose Posted in Companies, Stocks We Like.
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Will Christmas shopping rescue Australia’s retailers?
Dominic Rose
November 13, 2019
You can’t underestimate the importance of retail spending. When nations open their wallets, it stimulates the economy. Investors have been bracing for a cheerier Christmas, however should we be worried about recent data which has shown a marked slowdown in momentum? Continue…
by Dominic Rose Posted in Companies, Consumer discretionary.
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Banking on lower Growth
Stuart Jackson
November 12, 2019
As highlighted in the recent results announcements from Australia and New Zealand Banking Group (ASX:ANZ), Westpac (ASX:WBC) and National Australia Bank (ASX:NAB), the earnings and profits of our major banks are on the slide. It’s further justification for the investment strategy of The Montgomery Fund and The Montgomery [Private] Fund to have an 85 per cent active underweight position in the major banks. Continue…
by Stuart Jackson Posted in Companies, Editor's Pick, Financial Services.
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A look at Costa Group’s third earnings downgrade
Joseph Kim
October 30, 2019
In this week’s video insight Joseph digs deeper into Costa Group’s trading halt, which occurred prior to an earnings downgrade and its intention to raise equity. It appears cyclical and structural impacts have had an even greater impact than alluded to at its August result.
by Joseph Kim Posted in Video Insights.
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Why our Small Companies Fund sees value in IMDEX
Dominic Rose
October 29, 2019
These days, I hear many commentators say it’s hard to find value in the market. But if you look hard enough, it’s still possible to find a gem. One of these is IMDEX (IMD), a global mining-tech company. With a strong management team, an attractive product suite, high returns, and a net cash position, IMDEX could be set for a significant step-up in earnings growth. Continue…
by Dominic Rose Posted in Companies, Stocks We Like.
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Changing competitive dynamics in mortgage lending
Stuart Jackson
October 28, 2019
In my video blog last week, I discussed why the major banks had not passed on the recent RBA rate cuts in full. This is due to an increasing proportion of each bank’s funding base approaching zero or close to zero interest rates. As most bank customers would know, transaction and traditional savings accounts pay little or no interest at present. This fixes the funding cost of these deposits for the banks irrespective of what the RBA does in terms of lowering its official overnight rate. Continue…
by Stuart Jackson Posted in Companies, Financial Services.
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It’s all about the Cash Flow
David Buckland
October 25, 2019
Roger Montgomery has written extensively about the profitless Unicorns – recent start-ups like Slack Technologies, Uber, Lyft, Peloton and WeWork – which are yet to produce predictable or sustainable cash flow. The table below details each of these companies’ share price movements from their recent peak, their current market capitalisation, their recent quarterly revenue on an annualised basis, and finally the ratio of the current market capitalisation to annualised revenue. Continue…
by David Buckland Posted in Companies.
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At Super Retail Group, sales keep on rising
Roger Montgomery
October 24, 2019
Super Retail Group (ASX:SUL) is one of Australia’s best-performing listed retailers. And that was borne out again in its latest trading update, which revealed growing sales across all its franchises. However, margins are starting to come under pressure as the business seeks to grow market share. Continue…
by Roger Montgomery Posted in Companies, Stocks We Like.
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Why you need to include cybersecurity in your investment thesis
Andreas Lundberg
October 21, 2019
According to the Australian Government’s Cyber Security Review, cybercrime is costing the nation up to $1 billion annually in direct costs alone. And the costs are rising. Clearly, it’s time for investors to factor the risk, and potential impact, of cyberattacks on the businesses they invest in. Continue…
by Andreas Lundberg Posted in Investing Education.
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Why I think NextDC is undervalued
Gary Rollo
October 18, 2019
What’s going on with the share price of data center provider NextDC (ASX: NXT)? Over the past year, it has massively underperformed other firms in both the tech and AREIT sectors. But with interest rates staying low, and the demand for data center services booming, is its market valuation set to rise? Continue…
by Gary Rollo Posted in Companies, Stocks We Like.
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