Search Results for: thorn group
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Insurance – we’re on the sidelines
Roger Montgomery
March 19, 2014
In this column, published in the Herald Sun, Roger looks at the mechanics behind insurance companies, and considers Insurance Australia Group and Suncorp Group from the viewpoint of an investor. Read here.
by Roger Montgomery Posted in In the Press.
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Klarman warns of impending asset price bubble: FT.com
Roger Montgomery
March 12, 2014
Earlier in the week, an article by Miles Johnson, Hedge Fund Correspondent for the Financial Times, caught our interest. Reporting on Seth Klarman, head of Baupost Group and “one of the world’s most respected investors”, Johnson writes of Klarman’s grave warning of an imminent asset price bubble. The highly regarded value investor (and bestselling author) is quoted as saying: “Any year in which the S&P 500 jumps 32 per cent and the Nasdaq 40 per cent while corporate earnings barely increase should be a cause for concern, not for further exuberance”. Read the article here (if you’re an FT.com subscriber).
by Roger Montgomery Posted in Market Valuation.
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Proceed With Caution
Roger Montgomery
March 6, 2014
In this article, published in the March issue of Money magazine, Roger runs market darling REA Group (realeastate.com.au) through the Harbour Bridge test. Read here.
by Roger Montgomery Posted in In the Press.
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Is $1.00+ unreasonable for BigAir?
Russell Muldoon
February 28, 2014
When BigAir Group Limited (ASX:BGL) was trading in the low $0.70 range back in September last year, we asked a relatively simple question: was $0.80+ unreasonable for BGL? Our thoughts at the time can be found here. Continue…
by Russell Muldoon Posted in Companies, Technology & Telecommunications.
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Ensure your tray tables are stowed!
Roger Montgomery
February 27, 2014
Qantas’ half-yearly ‘loss’ announcement today revealed a business in crisis. Fuel costs surged to a record level for any half-year period (there goes the hoped-for benefits of new, more efficient aircraft), intense competition, unfavourable currency movements and falling demand, have all been offered as reasons for the poor showing. In reality, however, the real reason for the poor result is that this is an airline. Continue…
by Roger Montgomery Posted in Airlines, Companies.
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Reporting Season’s Winners and Losers
Roger Montgomery
February 25, 2014
As the current reporting season draws to a close, we’ve come up with our list of the market’s best (and, by default, less-than-best) performers.by Roger Montgomery Posted in Companies.
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The Capital and Exploration Expenditure Cut – It’s Only Just Begun!
Ben MacNevin
February 20, 2014
Shareholders of Rio Tinto (ASX:RIO) and BHP Billiton (ASX:BHP), the world’s largest mining companies, have been pleased with their recently released profit announcements. Yet, upon closer inspection, shareholders of some mining services companies may not be pleased. Continue…
by Ben MacNevin Posted in Companies, Energy / Resources.
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SEEK: Topping the list of list providers
Russell Muldoon
February 19, 2014
Continuing on from our recent blog post on Australia’s best listed-list providers, specifically Carsales.com.au (CRZ), Domino’s Pizza Limited (DMP) and REA Group Ltd (REA) – or realestate.com.au – in what is arguably the standout result in this reporting season, Seek.com.au (SEK) has produced an outstanding update with impressive growth numbers reported across the board.
Naturally, given SEK holds the second largest position in both The Montgomery Fund and The Montgomery [Private] Fund, this is something we are very pleased to see. Below you will find some of our preliminary notes after skimming through their half-year report. Continue…
by Russell Muldoon Posted in Companies, Insightful Insights.
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Carsales: Cruising ahead of the pack
Russell Muldoon
February 17, 2014
Some of the biggest and best online businesses are lists. Everything from lists of cars, boats and houses, to lists of flights and hotel rooms, right on down to lists of pizza.
And just for you, we’ve even created one below. A shortlist of some of the market’s recent winners based on positive announcements so far this year. Continue…
by Russell Muldoon Posted in Companies, Consumer discretionary.
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Looking at: JB Hi-Fi’s pre-half-yearly report
Russell Muldoon
February 10, 2014
We’ve recently experienced a rash of downgrades to market expectations: including Super Retail Group (SUL) and The Reject Shop Limited (TRS), along with poor showings from US electronics retailers and the material decline to the share price of JB Hi-Fi Limited (JBH). Continue…
by Russell Muldoon Posted in Companies, Consumer discretionary.
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REA Group offers some upside
Roger Montgomery
February 6, 2014
In this article for the Switzer Super Report, Roger looks at the most recent results reported by Australian online property listing site, realestate.com.au. Read here.
by Roger Montgomery Posted in On the Internet.
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REA Group offers some upside
Roger Montgomery
February 6, 2014
In this article for the Switzer Super Report, Roger looks at the most recent results reported by Australian online property listing site, realestate.com.au. Read here.
by Roger Montgomery Posted in Companies, On the Internet, Property.
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Sector Sentiment
Ben MacNevin
February 5, 2014
Analysts weren’t expecting a bumper Christmas period; the general expectation was for relatively steady sales growth to finish the year. However, sentiment in the retail sector has taken a negative turn after disappointing trading updates from key retailers. Should this be cause for concern? Continue…
by Ben MacNevin Posted in Consumer discretionary, Insightful Insights.
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Credit Corp Maintains Momentum
Russell Muldoon
February 3, 2014
For those who have been reading our quarterly updates for the past few years on Credit Corp Group Limited (CCP), we must be beginning to sound like a broken record. We certainly feel like one. Continue…
by Russell Muldoon Posted in Companies, Consumer discretionary, Technology & Telecommunications.
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The Reject Shop: Bright future or burn-out?
Russell Muldoon
January 29, 2014
Despite the media talking up a very positive sales period over Christmas for our retailers, a mixed bag of trading results reported by the likes of JB Hi-Fi Limited (JBH), Super Retail Group Limited (SUL) and The Reject Shop Limited (TRS), have left many investors scratching their heads. Continue…
by Russell Muldoon Posted in Companies, Insightful Insights.
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Gaining from the declining AUD
David Buckland
January 20, 2014
The declining Australian dollar is often seen as a negative event, raising the cost of imports and overseas holidays. Over 2013, the Australian dollar fell by 14 per cent against the US dollar (US$1.04 to US$0.89), 16 percent against Sterling (GBP0.64 to GBP0.54) and unbelievably 18 per cent against the Euro (EUR0.79 to EUR0.65).by David Buckland Posted in Insightful Insights.
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Seeking Out Sustainable Growth
David Buckland
January 16, 2014
In this interview with Marty Switzer, broadcast on Sky Business, David Buckland reintroduces viewers to Montgomery’s investment philosophy, and looks at which companies are currently reporting good growth – Veda Group, LifeHealthcare and McMillan Shakespeare among them. Watch here.
by David Buckland Posted in TV Appearances.
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Reckon and DuluxGroup: double edition white paper report
Roger Montgomery
January 16, 2014
While the growth of the technological industry is greatly impacting the share price of accounting software company Reckon, DuluxGroup is facing challenging times ahead owing to the uncertainty surrounding the housing construction market. In the first subscriber-only double edition white paper for 2014, find out whether either company is Montgomery investment grade. Continue…
by Roger Montgomery Posted in Companies, Whitepapers.
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White Paper Reports
Roger Montgomery
January 16, 2014
Are you looking for our January or March white paper reports?
You can find them via the links below:
January 2014: RECKON AND DULUXGROUP: DOUBLE EDITION WHITE PAPER REPORT
March 2014: BEYOND PRODUCTIONS AND THE QUESTION OF ECONOMISTS: DOUBLE EDITION WHITE PAPER REPORT
by Roger Montgomery Posted in Value.able.
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TPG expanding its reach
Russell Muldoon
December 20, 2013
TPG Telecom (TPM) is set to become a major player in the Australian Telecommunications sector after announcing the acquisition of Telecom New Zealand Australia Pty Ltd and its subsidiaries, which include AAPT and PowerTel.
The acquisition, to be consummated on 28 February 2014, is highly complementary given it will add 11,000km of optical fibre, 254 Mid Band Ethernet exchanges, 1,500 directly connected premises and 15 data centres, servicing 300 wholesale customers and ~5,000 business customers, to TPG’s current infrastructure base. Continue…by Russell Muldoon Posted in Companies.
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