The Whyalla Steelworks was established in 1941 and employs 1,100 people. The Mount Isa copper smelter was established in 1953 and employs 550 people, and the Townsville refinery was established in 1959 and employs 500 people. Without enormous government subsidisation, all three businesses look like they will follow the Exxon Mobile refinery, Oceana Glass and plastics makers, Qenos and Trident, into oblivion. Continue…

by David Buckland Posted in Energy / Resources, Manufacturing, Market commentary, Property.

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In this video, Fraser Heard, Head of Partners Private, shares his perspective on the growing role of private credit within client portfolios. He outlines why private credit is emerging as a core asset class in Australia, particularly as investors seek income and diversification away from traditional sources. Fraser discusses how Partners Private evaluates private credit opportunities, with a strong focus on manager quality, transparency, risk discipline, and the structural benefits the asset class can offer. Continue…

by Roger Montgomery Posted in Aura Group, Popular, TV Appearances.

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At one point, back in 2022, the market cap of U.S. technology giant Meta (formerly Facebook) dropped as low as US$230 billion. The company and its investors had lost US$800 billion in market capitalisation in just one year, and the shares were down 75 per cent from their previous all-time high.

While the detailed reasons for the company’s significant decline are debatable – the broader market and its peers also fell significantly – the official reasons seem to be that the company experienced slowing growth in its daily active users and rising competition from TikTok.

This article was first published in The Australian on 16 July 2025. Continue…

by Roger Montgomery Posted in In the Press.

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Yesterday I joined Jess Maguire on ABC Statewide Drive to discuss why markets are defying expectations and soaring to new highs despite escalating global tensions, war, and looming U.S. tariffs.

I explained that while investors typically flee from uncertainty, many are instead focused on the potential benefits of select Trump policies and the artificial intelligence (AI) boom, creating a surge in optimism. Continue…

by Roger Montgomery Posted in Radio.

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Financial markets are acting like a friend who says one thing but does another. Investors are sending conflicting messages about the economy, interest rates, and what’s coming next.

The mixed signals

Investors are betting that the Federal Reserve will cut interest rates by up to two per cent over this easing cycle. Trump of course, always the glutton, wants even more. That’s a big deal – rate cuts of this size usually happen when the economy is in trouble or heading into a recession. Lower rates make borrowing cheaper, encouraging spending and investment to boost a slowing economy. Continue…

by Roger Montgomery Posted in Market commentary.

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This morning on Ausbiz with Juliette Saly, we unpacked the confusing signals coming from global markets. Despite geopolitical turmoil, rising inflation expectations, and forecasts of rate cuts – which usually signal economic weakness – equity markets are hitting all-time highs, credit spreads remain narrow, and liquidity appears abundant. Continue…

by Roger Montgomery Posted in TV Appearances.

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This week I explored the growing warning signs lurking beneath the market’s strong performance. From ballooning U.S. fiscal deficits and overexposure to a handful of mega-cap tech stocks, to sky-high artificial intelligence (AI) valuations that echo the dot-com era – there are clear signals that caution is warranted.

While the current market resilience is impressive, now is the time to focus on quality stocks and diversifying your portfolio. Exploring alternative asset classes like private credit – which remains uncorrelated to public markets – could help investors navigate what comes next.

Continue…

by Roger Montgomery Posted in Video Insights.

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In this video, we hear from Russell, an experienced professional who chose to invest in private credit for a specific, short-term goal. Unlike long-term investors, Russell needed access to his capital within a defined timeframe for a property purchase. His story highlights how private credit can offer a flexible, lower-volatility solution for investors with clear time horizons – especially when public markets may not be suitable. Continue…

by Roger Montgomery Posted in Aura Group, Popular, TV Appearances.

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