In this video, I discuss why Megaport (ASX: MP1) has become one of our highest-conviction holdings, including its position in AI infrastructure, differentiated data centre strategy and potential to benefit from growing demand for AI inference.

Disclaimer: The Montgomery Small Companies Fund owns shares in MP1. This video was prepared 14 September 2026 with the information we have today, and our view may change. It does not constitute formal advice or professional investment advice. If you wish to trade MP1, you should seek financial advice.  Continue…

by Gary Rollo Posted in Companies, Editor's Pick, Feature Article, Insightful Insights, Investing Education, Manufacturing, Market commentary, Market Valuation, Popular, Small Caps, Stocks We Like, Video Insights.

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In my latest article for The Australian, I look at the growing pressure facing Australian homeowners as rising living costs, higher interest rates and mortgage repayments stretch household budgets. With mortgage stress at its highest level in 18 years, I explore the economic pressures behind the figures and what they could mean for households if conditions remain challenging.

Download the article here: Homeowners pay the high price of Labor’s fiscal mismanagement Continue…

by Roger Montgomery Posted in Economics, Editor's Pick, In the Press, Market commentary, Property.

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Jeremy Grantham is considered one of the giants of the investment world. After his start as an economist for Royal Dutch Shell, he earned his MBA from Harvard before co-founding his first asset management firm and helping pioneer commercial indexing strategies in the early 1970s. He subsequently co-founded Grantham, Mayo, & Otterloo (GMO) in Boston, growing it into a global powerhouse managing over US$100 billion. Continue…

by Roger Montgomery Posted in Market commentary.

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I have spent the better part of the last 18 months warning investors the pattern of past returns from investing in new technology – what we refer to as General Purpose Technologies (GPT) – are likely to apply to the latest GPT- artificial intelligence (AI).

Quite simply, there’s a point in every technology investment boom when the technology stops being the most important question, and the money takes over. Continue…

by Roger Montgomery Posted in Market commentary.

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BCA Research (BCA), a global investment research firm, recently released its August 2026 market update, in which the authors argue against becoming defensive too early.

According to BCA, the current bull market contains many of the necessary ingredients for a future bust – geopolitical risk, an extraordinary artificial intelligence (AI) capital expenditure boom, and a looming wave of very large initial public offerings (IPOs) – but BCA believes the immediate evidence still favours investing in risk assets such as shares. Continue…

by Roger Montgomery Posted in Market commentary.

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Magellan Financial Group’s operating profit for the 2026 financial year (FY26) modestly beat consensus, but the quality of the result was read as weaker, with pressure in investment management and a softer-than-expected contribution from Barrenjoey offset by unusually strong distribution income. Meanwhile, the conference call revealed several additional headwinds that lower the starting point for the 2027 financial year (FY27). Continue…

by Roger Montgomery Posted in Companies, Financial Services.

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In my article for Firstlinks, I explore whether the extraordinary investment boom in artificial intelligence (AI) could ultimately end in financial pain for investors, even if the technology itself transforms society. History shows that revolutionary technologies can deliver enormous benefits while destroying the capital of those who overpaid to build them. With Big Tech committing hundreds of billions of dollars to AI infrastructure, costs rising, competitive moats weakening and the price of intelligence rapidly falling, the pressure to generate adequate returns is mounting. As cash flows come under strain and the AI trade begins to unwind, investors are left with a critical question: can the hyperscalers generate enough profit to justify the scale of spending, or is the AI boom following a familiar historical path?

You can read the article here: Firstlinks – Will AI destroy investor capital? 

by Roger Montgomery Posted in On the Internet.

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Harvey Norman Financial Year 2026 (FY26) results: Australian squeeze, overseas drag, and what it signals for the broader economy

Harvey Norman Holdings (ASX: HVN) released its FY26 full-year financial results and early FY27 trading update. While property revaluations boosted top-line profit, the underlying retail and franchising operations reflect the well-documented challenges in the domestic consumer environment, as well as overseas operational challenges. Continue…

by Roger Montgomery Posted in Companies, Consumer discretionary.

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