Attending my undergraduate degree in the early 1980s, there was a big focus on gross domestic product (GDP) per capita. This meant economists took out the often-large stimulus from a rising population, and analysis was done over the population of the day. Continue…

by David Buckland Posted in Editor's Pick, Market commentary.

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It’s unlikely you’ve heard of Audinate (ASX:AD8), a holding in the Montgomery Small Companies Fund. Audinate is a company with shares listed in the small cap sector of the Australian stock market. It might have flown under your radar by virtue of its size. But the other reason you might not have heard of it is you’re probably not a customer.  Continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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ASX listed Life360 (ASX:360), a family safety app that allows GPS location sharing is one of the larger and more exciting companies held by the Montgomery Small Companies Fund. In the two business days since Life360 announced its results for the year to 31 December 2023, the share price has jumped 46 per cent from $8.30 to $12.14. Continue…

by David Buckland Posted in Companies, Stocks We Like.

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2023 marked a year of both challenges and opportunities for the Australian private credit market. On the one hand, the tighter credit conditions in the first half of the year saw decreased activity in mergers and acquisitions (M&A), project finance and real estate development financing. On the other, the latter part of the year boasted a more stable interest rate and inflation outlook, as well as improved credit margins, supporting more resilient private credit portfolios. 

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by Dean Curnow Posted in Market commentary.

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In this week’s video insight, I delve into the highlights of the February reporting season and its unexpected outcomes, a key period for those of us monitoring the Australian equity market. Despite a challenging economic backdrop, a noteworthy number of companies have outperformed expectations, bolstering my optimistic view on the potential of quality, innovative companies. As the season concludes, I offer my insights on the unexpected turns and the bright prospects for equity investors, reaffirming my bullish stance for the future.  Continue…

by Roger Montgomery Posted in Companies, Editor's Pick, Market commentary, Video Insights.

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Recently, Wilsons Advisory released a report outlining their case for small caps. At the risk of repeating what we have already said over the last twelve or so months, investors keen to allocate capital to an opportunity to potentially boost returns, will be interested in the small cap bull case from a third party. Continue…

by Roger Montgomery Posted in Financial Services.

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Last year, investors who held a non-consensus bullish stance on equities saw their optimism rewarded as the market trended up through 2023. As we pivot into 2024, the outlook might appear to be more complex, but in reality, the preconditions remain the same: disinflation accompanied by positive economic growth. Continue…

by Roger Montgomery Posted in Global markets, Market commentary.

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After highlighting the Vaughan Bowen and Michael Simmons lead Uniti Corporation and the several bolt on acquisitions from early-2019 (and then seeing the takeover from Morrison & Co at $4.50 per share a few years later), it appears the team at Aussie Broadband (ASX:ABB), led by Phil Britt, are following a similar run sheet by taking market share from the incumbents via organic growth and roll-up acquisitions.  Continue…

by David Buckland Posted in Companies, Stocks We Like.

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