Auckland International Airport (ASX:AIA), New Zealand’s premier gateway handling the bulk of the nation’s international traffic, delivered a resilient performance for 2025, after navigating a weakening economy, airline capacity constraints, and ongoing infrastructure investments. Continue…

by Roger Montgomery Posted in Airlines, Companies, Stocks We Like.

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In this week’s video insight I explore signs that today’s bull market may be showing signs of a bubble. The bulls point to two key observations supporting the markets’s strength. First, market breadth is widening – with more stocks joining the rally. And second, earnings momentum is improving with over 80 per cent of U.S. companies seeing positive earnings revisions. 

While these observations appear supportive on the surface, they can also be read as signs of a maturing bull market edging towards a bubble. Continue…

by Roger Montgomery Posted in Video Insights.

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Last night I joined Phil Clark on ABC Nightlife to explore Kenneth Rogoff’s warnings on the looming U.S. debt pile and the end of the “free money” era, and why investors should stay cautious. With debt levels near WWII highs, foreign buyers showing less appetite for U.S. bonds, and Trump’s tax cuts paired with massive borrowing, the risks of a crisis are mounting. Continue…

by Roger Montgomery Posted in Value.able.

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I am fascinated by the standard descriptions of returns cited by commentators in the real estate market. I am also disappointed that a regular opportunity to educate investors about returns is so frequently missed. 

Back in July, an article in The Australian Financial Review, entitled Renovators’ return: How to maximise property value in 2025, observed, “The nurse and engineer have transformed the house they bought in Adelaide’s seaside Glenelg for $450,000 back in 2012. They’re now looking to sell for $1.9 million, a four-fold return compared with the doubling of house prices over the same period.” Continue…

by Roger Montgomery Posted in Market commentary.

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I joined David Taylor on ABC The Business to discuss signs that the market might be entering bubble territory.  

Sharemarkets continue to climb, driven by fear of missing out (FOMO), expectations of interest rate cuts, and easing global tensions. But these same forces are also evidence that this boom could be shifting into the early stages of a bubble. Continue…

by Roger Montgomery Posted in TV Appearances.

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Since the advent of the car, railroads or electricity, few technologies have captured investor imagination quite like generative artificial intelligence (GenAI).  

The debut of AI tools like ChatGPT has attracted billions in research and development (R&D) and related construction investment at the same time that share market investors have poured trillions into AI-related stocks, inflating valuations to levels that some suggest should make even the dot-com era blush.   Continue…

by Roger Montgomery Posted in Market commentary.

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The Reece Limited (ASX: REH) share price has recorded a rough year, down around 60 per cent from A$29.20 to sub A$12.00. The company reported its results for the 12 months to 30 June, and it appears pressure on the earnings before interest and tax (EBIT) margin from 7.4 per cent in fiscal 2024 to 6.1 per cent in the six months to June 2025 could continue. Continue…

by David Buckland Posted in Companies.

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Kenneth Rogoff, the American economist, chess Grandmaster, professor of international economics at Harvard University, former International Monetary Fund (IMF) chief economist and co-author of This Time is Different: Eight centuries of Financial Folly, has spent his career chronicling the anatomy of financial collapses. In his latest article for Foreign Affairs (Sep/Oct 2025), Rogoff issues a stark warning: the U.S. is flirting with a once-in-a-century debt crisis – and its current political and economic trajectory makes a crisis not just possible, but probable. Continue…

by Roger Montgomery Posted in Foreign Currency, Global markets, Market commentary.

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