Since early November 2016, owners of Australian bank shares have been heartened to see stock prices rise sharply.  But this could be as good as it gets – at least for a while – and it may be time for shareholders to take some profits and seek out opportunities in over-sold small and midcap companies. Continue…

by Roger Montgomery Posted in Companies, Editor's Pick, Financial Services.

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As part of netwealth’s portfolio construction webinar series, I gave an hour long presentation to an audience last year on the “value investing” approach and what our investing framework looks like. To watch the webinar please click on following link, a copy of the slides used in the presentation are also freely available.

by Roger Montgomery Posted in Montgomery News and Updates.

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by Roger Montgomery's Team Posted in Old Content.

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The outlook for Australia’s banks in 2017 is now tougher given the rerating of the stocks the last quarter of 2016. The expectations built into share prices have clearly lifted in 2017.  The big change we expect is a slowing of loan book growth. If interest rates have bottomed, affordability of debt will suffer. Market expectations imply a continuation of the growth rates we’ve seen over the past decade or two, but if the cost of debt stops falling this could act as a drag on loan book growth and the broader economy. Funding costs continue to rise, pressuring net interest margins. Slowing loan book growth is also likely to increase competitive pressure as banks look to gain market share as an offset.

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by Stuart Jackson Posted in Editor's Pick, Financial Services.

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Back in 2008, Satoshi Nakamoto conceptualized the first blockchain. The following year, he used it as a core component of the digital currency, bitcoin. Since then, blockchain has become something of a buzz word. So what is it, and why does it matter?
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by Lisa Fedorenko Posted in Market commentary, Technology & Telecommunications.

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by Roger Montgomery's Team Posted in Old Content.

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The 2016 financial year saw some significant changes in investment in Australia. There were major movements in relation to global shares, fixed interest, global property and infrastructure, and alternatives. We can learn a lot by looking at where the money flowed. Continue…

by Scott Phillips Posted in Market commentary.

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Intuitively investors know the principles of buying low and selling high. Each year Dalbar, a US based research firm, conducts their Quantitative Analysis of Investor Behaviour. The study looks at how investor decisions to switch in and out of mutual funds impacts the returns that they achieve. Dalbar’s research confirms that most investors fail to execute on this basic premise – consistently underperforming the funds they invest.

In this video for LiveWire I share my views on irrational selling and the opportunities this creates. 

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by Roger Montgomery Posted in On the Internet.

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