Search Results for: property
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Cash is not so bad
Roger Montgomery
December 21, 2015
If you are of a certain vintage, you may have enjoyed watching the antics of Wylie.E.Coyote and his attempts to catch and eat Road Runner. In almost every episode there was a moment, commonly referred to the W.E Coyote moment, where the disingenuous coyote found himself momentarily suspended in thin air, invariably above a canyon, held up only by an initial failure to realize there was nothing underneath him. Continue…
by Roger Montgomery Posted in Insightful Insights.
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Too Hot to Handle!
Roger Montgomery
December 11, 2015
Back in June 2010, I was interviewed by Peter Switzer on the subject of coal. Continue…
by Roger Montgomery Posted in Insightful Insights.
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Chasing dividends often overlooks growth
Roger Montgomery
December 7, 2015
We have previously written about the bubble in stocks (and inevitably property) inflated by the baby boomer’s desperate search for yield. We described the pursuit of yield as a fad. So, while we were not surprised to watch investors rushing into higher yielding banks and Telstra, we were shocked to hear of investors buying BHP for its ‘progressive’ dividend. Continue…
by Roger Montgomery Posted in Investing Education, Market Valuation.
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Banking loan book growth is accelerating, but what is happening on pricing?
Stuart Jackson
December 4, 2015
APRA and the RBA released their October 2015 statistics on the growth in lending and deposits in the banking and non-banking system last week. Continue…
by Stuart Jackson Posted in Insightful Insights.
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A Scenario to Consider
Tim Kelley
November 18, 2015
This chart from the latest RBA Chart Pack shows (on the left hand side) the level of debt held by Australian households as a percentage of disposable income. As you can see, debt levels have been on something of a bender for the last few decades. Associated with this, we have seen excellent growth in mortgage books for the big four banks, and a generally chipper residential property market. Continue…
by Tim Kelley Posted in Financial Services, Insightful Insights.
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Property and banks
Roger Montgomery
November 17, 2015
In this interview with Ross Greenwood, Roger discusses the outlook for banks and the property market in Melbourne. Listen here.
by Roger Montgomery Posted in Radio.
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Considering converting your super to a SMSF?
Scott Phillips
November 11, 2015
Here at Montgomery we are often asked by investors whether or not they should have a self managed super fund (SMSF). As we are not financial advisers, we cannot help people make this decision, which should largely be based on their personal situation and circumstances. However, we thought it might be helpful to outline a few of the pros and cons to consider. Continue…
by Scott Phillips Posted in Insightful Insights.
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Hard Landings
Roger Montgomery
November 6, 2015
Australians should have all eyes focused on China. China is the dog upon whose tail Australia is attached and our view, as you know, has been that the country would slow dramatically as it tries to rebalance from an economy heavily dependent on fixed asset formation to one reliant on the consumer. Continue…
by Roger Montgomery Posted in Foreign Currency, Insightful Insights.
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John McGrath launches investor roadshow ahead of float
Roger Montgomery
November 5, 2015
Ben Wilmot writes an article about Sydney real estate agent and television star John McGrath. He mentions Roger Montgomery and his support of the concept. Read here.
by Roger Montgomery Posted in In the Press.
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Don’t bank on it getting better
Roger Montgomery
October 28, 2015
Invest for the long-term. That’s the catchcry of a phalanx of commentators since investing in equities emerged from the shadow of railway bonds. But investing for the long-term only makes sense if you invest in extraordinary businesses. The longer you stay invested in mediocre businesses the greater your loss in either nominal terms or opportunities foregone – or both. Continue…
by Roger Montgomery Posted in Financial Services, Insightful Insights.
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The great China slowdown – part 3
David Buckland
October 27, 2015
China cut its interest rates for the sixth time in less than a year as the economy grew by 6.9 per cent in the September 2015 Quarter, its lowest growth rate in 25 years. Continue…
by David Buckland Posted in Foreign Currency, Insightful Insights.
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What to expect from REA Group?
Scott Shuttleworth
October 22, 2015
Yesterday we attended Citi Group’s ‘Fireside discussion’ with Tracey Fellows, CEO of REA Group Limited (ASX: REA).
Below we share a few noteworthy points from the conversation. Continue…
by Scott Shuttleworth Posted in Companies, Property.
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REA among best quality businesses in Aussie market
Tim Kelley
October 20, 2015
In this video Tim Kelley, highlights some uncertainty in the property market and indicates that a correction is possible. He mentions the impressive business REA Group. Watch here.
by Tim Kelley Posted in TV Appearances.
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Financial Systems Inquiry consequences
Roger Montgomery
October 20, 2015
In this interview with Ross Greenwood, Roger discusses the implications of The Financial Systems Inquiry for banks, property and investors. Listen here.
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Five Forces
Stuart Jackson
October 16, 2015
The importance of ROE (return on equity) and buying companies with bright prospects is sacrosanct here at the Insights Blog but why? ROE is an important explanatory variable for superior share price performance and so we want businesses that can sustain high rates of return. When I talk about bright prospects it is the sustainability of these high rates of return that I am referring to. Whether the bright prospects relate to a rising tide of customers, the ability to pass on rising costs, the ability to be the low cost provider or the changing competitive landscape, how these factors serve to produce a high rate of return on equity is what we care about.
by Stuart Jackson Posted in Insightful Insights, Investing Education.
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Beware investor bubble babble
Roger Montgomery
October 14, 2015
In this column published in the Herald Sun, Roger comments on the continuing rise of property prices. Read here.
by Roger Montgomery Posted in In the Press.
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Don’t jump at shadows
Roger Montgomery
September 23, 2015
As most readers will know, in July 2015 we launched the Montgomery Global Fund and The Montaka Global Fund. We were rather shocked when, just a month later in August, two or three investors withdrew their investment. When surveyed, the investors who withdrew their investments cited fears about an economic slowdown in China and its potential impact on markets globally. Continue…
by Roger Montgomery Posted in Insightful Insights, Investing Education.
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No competitive advantage – now what?
Scott Shuttleworth
September 18, 2015
For a firm to grow in value, it must earn returns in excess of its cost of capital. Typically we expect that firms will achieve this by developing a competitive advantage difficult to replicate by competitors and exploiting said advantage for all it’s worth. But what if the firm has no competitive advantage? Continue…
by Scott Shuttleworth Posted in Economics, Insightful Insights.
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China Cracks
Roger Montgomery
September 9, 2015
As you already know, we have been very negative about China, it’s impact on iron ore and coal and ultimately Australia, for several years. We also avoid many, if not all Chinese companies listed in Australia or the United States because auditors can not give unqualified opinions about the numbers because China’s deems them a state secret. And finally we have often questioned the accuracy of China’s economic data, particularly GDP – which remarkably is released at the end of a quarter before the US releases their number.
by Roger Montgomery Posted in Foreign Currency, Insightful Insights.
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Small cap series: Bellamy’s Australia Limited
Scott Shuttleworth
September 9, 2015
With reporting season out of the way, we now can continue our series in small cap stocks.
One clear outperformer has been Bellamy’s Australia Limited (ASX: BAL). For those unaware, Bellamy’s is a Tasmanian firm producing organic baby milk powder and formula. Continue…
by Scott Shuttleworth Posted in Companies, Insightful Insights.
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