Search Results for: coh
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An ear to the ground
Ben MacNevin
February 18, 2016
Cochlear’s (ASX: COH) strong focus on innovation has resulted in 440,000 people wearing its products. Management is now considering how to leverage this large and enduring customer base while attracting new ones. Continue…
by Ben MacNevin Posted in Insightful Insights.
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Lock up your Children!
Roger Montgomery
November 10, 2015
Do not wear a smart watch or fitness tracker or buy one for others.
In March this year we wrote an article for The Australian about the dangerous combination of wearable technologies that tracked vital health statistics and moods, the insurance industry, and artificial intelligence. Continue…
by Roger Montgomery Posted in Insightful Insights, Technology & Telecommunications.
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The Future for Cochlear
Tim Kelley
August 12, 2015
Cochlear (ASX: COH) shares took a step back this week following an underwhelming full year profit report. While the business continues to grow, the market expected more, and some scale back of FY16 expectations was required. Continue…
by Tim Kelley Posted in Health Care, Insightful Insights.
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Paying Dividends
Roger Montgomery
April 2, 2015
The emerging debate about whether the politically suicidal decision to reduce the tax benefits of franking credits and by extension the attractiveness of dividends for income, brings to my mind the company run by Warren Buffett – Berkshire Hathaway. This is a business that has not paid a dividend since 1967, but has created thousands of millionaires and quite a few billionaires too. Continue…
by Roger Montgomery Posted in Investing Education.
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Everybody Loves Raymond
Roger Montgomery
February 7, 2015
A couple of weeks ago at the World Economic Forum in Davos, Switzerland, Ray Dalio spoke with CNBC. Prominent economic thinkers in Davos believe the U.S. economy is strong, but its ability to deal with the next crisis is in doubt. “The U.S. is growing and I think that’s a non-debatable fact,” Gary Cohn, president of Goldman Sachs, said Thursday at the World Economic Forum in Switzerland. “What I am concerned about is the actual ability of the U.S. to raise rates with what’s going on with the rest of the world.” Below, we summarise the outtakes.
by Roger Montgomery Posted in Economics, Insightful Insights.
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Aussie dollar exposure
Ben MacNevin
September 26, 2014
Team Montgomery has long warned the Australian dollar, at near parity to the US dollar, has a fair bit of downside risk (see here, here and here). With that hypothesis now playing out – and commentators starting to crow – you may be wondering which companies may benefit from a stronger US dollar. Continue…
by Ben MacNevin Posted in Foreign Currency, Insightful Insights.
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Reflecting on Australia’s Future
Tim Kelley
September 24, 2014
It’s hard not to be impressed by US dominance of the online world. If you look at a list of the top internet sites in Australia, the leaders are almost all of US origin: sites like Google, Facebook, YouTube, eBay and Wikipedia. Continue…
by Tim Kelley Posted in Insightful Insights.
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The world according to Munger
Roger Montgomery
September 17, 2014
Daily Journal Corporation (DJC) publishes newspapers and websites covering California and Arizona, as well as the California Lawyer magazine, and produces several specialised information services. Sustain Technologies, Inc. (Sustain), a wholly owned subsidiary, supplies case management software systems and related products to courts and other justice agencies, including administrative law organisations. These courts and agencies use the Sustain family of products to help manage cases and information electronically and to interface with other critical justice partners.
The company’s Chairman is none other than Charles T. Munger. Here’s a transcript of his comments from last week’s DJCO Shareholders meeting.
We’ve copied it here raw and unedited, but there are many pearls. It’s long, so print it off and enjoy.
by Roger Montgomery Posted in Insightful Insights.
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Sounding out the risks
Ben MacNevin
August 7, 2014
Cochlear Ltd (ASX: COH) released its 2014 full-year financial results on Tuesday. The market reacted favourably to the result, largely due to the considerable increase in revenues from the first half of 2014 to the second half of 2014. However, we remain cautious about the company’s prospects for two reasons. Continue…
by Ben MacNevin Posted in Companies, Insightful Insights, Value.able.
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Navitas and the rock star lecturer
Ben MacNevin
July 10, 2014
(Additional commentary by Roger Montgomery.)
Navitas (NVT: ASX) has announced that its largest University Pathways partner – Macquarie University – will not extend its partnership after 12 February 2016. Continue…by Ben MacNevin Posted in Insightful Insights.
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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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2013… what a year!
Roger Montgomery
December 26, 2013
As we draw the curtains on 2013, we thought it would be interesting to look back at the three most popular stories from the year. They are… Continue…
by Roger Montgomery Posted in Market commentary.
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Checking in on Cochlear
Tim Kelley
November 22, 2013
Cochlear Limited (COH) is one of the businesses we have followed with interest over the years. More recently, we have been concerned that competitors like Med-El and Sonova might be closing the technological gap on COH, and threatening its dominant market position. Continue…
by Tim Kelley Posted in Companies.
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Thinking about Virtus
Russell Muldoon
June 19, 2013
A key investing theme at Montgomery Investment Management has for some time been the positive financial impact on healthcare companies from an ageing western demographic. Given that the sector is stable and growing, it’s a must have, at the right price, in our investment portfolios. Of the invested assets in The Montgomery [Private] Fund, healthcare currently occupies approximately 26%. Continue…
by Russell Muldoon Posted in Health Care, Insightful Insights.
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Analysing developments at Cochlear
Tim Kelley
June 5, 2013
Disappointing news from Cochlear (COH) this week. Following weak 2nd half sales, the company announced that it expected FY13 NPAT to fall between $130 and $135m – a large step down from what broking analysts had expected. Continue…
by Tim Kelley Posted in Companies.
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What’s happening in the markets?
David Buckland
May 22, 2013
In these highlights from Your Money Your Call, David Buckland talks about whether confidence is likely to climb in the new financial year, as well as giving his views on Fleetwood (FWD), IMF (IMF), Silver Lake (SLR), Navitas (NVT), Carsales.com (CRZ), Newcrest Mining (NCM), and Cochlear (COH). Watch here.
by David Buckland Posted in TV Appearances.
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Threats to Cochlear’s market position?
Tim Kelley
April 22, 2013
Many readers will have noticed the dramatic fall in the price of Cochlear (COH) shares from above $80 per share at the start of February to below $60 recently. COH is an Australian-based world beater in cochlear implants (note that “cochlear” is both the name of the company (COH) and the part of the inner ear into which cochlear implants are implanted, whether they are supplied by COH or a competitor). At Montgomery, we are big fans of COH, and in the past it has been a significant holding of the Montgomery [Private] Fund. With the recent decline in share price we have again been taking interest in the business.
Continue…by Tim Kelley Posted in Insightful Insights, Technology & Telecommunications.
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Is now the right time to buy gold?
Roger Montgomery
April 17, 2013
In these highlights from Your Money Your Call, David shares his insights on Gold, including Robust Resources (ROL), and discusses the prospects for Telstra (TLS), Cochlear (COH), The Reject Shop (TRS), Cedar Woods (CWP) and Codan (CDA). Watch here.
by Roger Montgomery Posted in TV Appearances.
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The view from the top of Australia…
Roger Montgomery
April 16, 2013
It was interesting to read in yesterday’s Australian Financial Review that auction clearance rates surged past 70% at the weekend. There’s almost an air of desperation at some auctions. The fear of missing out is a much greater influence on investor behaviour than the fear of loss.
Continue…by Roger Montgomery Posted in Insightful Insights, Property.
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What is the ‘new normal’ for housing?
Russell Muldoon
December 10, 2012
A few months ago we commented here on an article in the AFR speculating that Gen Y may soon be buying a house cheap from boomers who have no-one else to sell to and why renting makes more sense than buying. Since Roger bought the bigger family home in 2006,he has argued that house prices would cease rising to new highs – especially the six and seven bedroom variety.
Whilst the mere mention of Australian housing and prices can stir up passionate and spirited argument for and against house price rises, just this morning I stumbled across the below series of charts produced by Citigroup’s Matt King.
Similar to the M/O ratio which plots P/E ratios against the ratio of the middle-age cohort, age 40–49, to the old-age cohort, age 60–69 from 1954 to 2010, Matt looks at the relationship between the inverse dependency ratio (the proportion of population of working age relative to old and young) and maps that against real house prices over time. This produces a longer-term measure of prices home owners are willing to (or have to) pay for housing.
The charts are a powerful representation of a force driving all economies and prices: demographics. Whilst prices have somewhat lagged the dependency ratio on the way up, give or take a number of years and almost every country here shows that the peak in real estate prices is highly correlated with the peak in dependency ratio.
Its worth contemplating whether the recent past, characterised by rising gearing levels and falling price to income ratios (affordability) is the new normal, or whether, as we transition into an environment where there are more pensioners than workers and therefore fewer people to ‘downsize’ too,what may transpire in the future in Australia is anything like the experience in the US, Japan, Ireland, Spain and the UK.
As always, delighted to hear your thoughts.
by Russell Muldoon Posted in Insightful Insights.
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