The Australian equity market has been unfriendly to our style of investing recently.  We knew before we stepped onto the field that there would be years when we generated very large excess returns and years when we would suffer, but even when you know they will happen, the bad years are always painful when they occur. Continue…

by Tim Kelley Posted in Market commentary.

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Howard Marks is the Founder and Co-Chairman of Oaktree Capital Management – which manages funds of around US$100b. He is greatly respected for his investment strategies and insights. I recently heard him speak at the Sohn Hearts and Minds Conference and re-read his book, ‘The Most Important Thing’. In a nutshell, Marks has seven key lessons for all investors. Continue…

by David Buckland Posted in Editor's Pick, Investing Education.

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Right now, many investors are probably patting themselves on the back, having profited from a booming property market and the makings of a resurgent share market.  But there is an elephant in the room – rising bond yields.  And they could bring the party to an abrupt end. Continue…

by Roger Montgomery Posted in Market commentary.

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Isentia recently caused the market price for its shares to stumble by more than 25%. So is this an overreaction? Continue…

by Roger Montgomery Posted in Companies.

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Hands up if you read the fine print when you receive a company prospectus. Odds on, your hand is still down. Because the sad fact is most of us have a terrible habit of ignoring the fine print. Put it down to lack of time, a trusting nature, or lack of expertise. Either way, it can be a costly mistake – you need to know what you are about to buy. Continue…

by Ben MacNevin Posted in Market commentary.

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Boral generated rare headlines this week when it announced an agreed bid for rival US building materials company Headwaters Inc for US$2.564bn. Boral called it a “strategically compelling acquisition” with “attractive financial metrics” that will transform the company. But, looking at the history of such take-overs, and the metrics behind the deal, we are not as optimistic. Continue…

by Stuart Jackson Posted in Companies.

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In this interview with Ross Greenwood, Roger discusses gold as an investment and Buffett’s recent decision to invest in airlines.

by Roger Montgomery Posted in Radio.

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by Roger Montgomery's Team Posted in Old Content.

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