Monodelphous Group Limited (ASX: MND) is the bellwether company for the Australian resource service sector.  After seeing the MND share price decline 80 per cent from $28.50 to $5.50 in the three years to early-2016, it has more than doubled this year, indicating investors appetite to switch into cyclical stocks as the expectation for resource projects proceeding has increased with the recovery in commodity prices. Continue…

by David Buckland Posted in Energy / Resources.

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For most of 2016, we have warned investors about the dangers of accepting historically low bond rates as the ‘new normal’. The reality is that US 10-year rates lower than at any time since George Washington was sworn in as the first President of the United States is anything but normal.

by Roger Montgomery Posted in Market commentary.

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by Roger Montgomery's Team Posted in Old Content.

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We understand many investors have been watching the recent share price action of Vita Group closely.  Many have expressed dismay at the slump following ‘news’ that Telstra was renegotiating its terms with its licencees – something that Telstra does every quarter and ‘more than 50 times’ with VTG. Continue…

by Roger Montgomery Posted in Companies.

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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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