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Private Credit outclassing the asset classes
Roger Montgomery
August 30, 2023
Every six months, Morningstar assembles its Annual Asset Class Returns “gameboard” (Figure1.). The matrix displays the performance of seven major asset classes over the last 20 financial years to 30 June 2023. While the compilation doesn’t offer much by way of predictive value, its usefulness is in its educational content. Continue…
by Roger Montgomery Posted in Aura Group, Market commentary.
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The appalling treatment of Australia: high airfares, Qantas’ anti-competitive behaviour, and nepotism
Roger Montgomery
August 29, 2023
The skies above Australia have long symbolised freedom, exploration, and connection. Yet, in recent years, these skies have become shrouded in clouds of anti-competitive behaviour, sky-high airfares, and nepotism, threatening the very essence of Australia’s aviation industry. Continue…
by Roger Montgomery Posted in Airlines, Companies, Editor's Pick.
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The great Australian shift: A new dawn for income investment
Roger Montgomery
August 29, 2023
Last week’s ‘Intergenerational Report 2023’ released by Treasurer Jim Chalmers, underscores a pivotal shift: as Australia ages, the market emphasis will transition from capital growth to income. Sophisticated investors, take note. Continue…
by Roger Montgomery Posted in Market commentary.
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China wakes up, but is the nightmare just beginning?
Roger Montgomery
August 28, 2023
I have long ignored the reported vicissitudes of China’s economy, unable to reconcile the fact their gross domestic product (GDP) data – obtained from an impossibly large and disparate country – is released more quickly at the end of each month than the U.S. and the data is rarely, if ever, subsequently amended or adjusted. They get it right the first time, every time. A quick look at the piles of junked Chinese products at the local waste disposal centre quickly disabuses one of any belief in China’s systems producing data that is right the first time every time. Continue…
by Roger Montgomery Posted in Economics, Editor's Pick, Global markets.
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Altium – A quality stock with excellent momentum
David Buckland
August 25, 2023
In this week’s video insight, David Buckland, CEO of Montgomery, and Sean Sequeira, Chief Investment Officer of Australian Eagle Asset Management, discuss the investment landscape surrounding Altium (ASX:ALU). The discussion delves into Altium’s historical performance, its emphasis on quality, and its ambitious growth aspirations. Through an exploration of Altium’s positioning, management consistency, and recent achievements, this discussion underscores the significance of these factors in evaluating the company’s investment potential. Continue…
by David Buckland Posted in Companies, Stocks We Like, Video Insights.
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Is a BRICS gold-backed currency and bad idea?
Roger Montgomery
August 24, 2023
The idea of a gold-backed currency proposed by the BRICS countries (Brazil, Russia, India, China, and South Africa) as an alternative to the U.S. Dollar has gained attention. However, there are numerous reasons why this concept is considered impractical and unwise. This article explores the challenges and drawbacks of adopting a gold-backed currency, highlighting historical evidence and expert opinions that point to its shortcomings. Continue…
by Roger Montgomery Posted in Foreign Currency, Global markets.
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Another high quality result – Breville
Roger Montgomery
August 23, 2023
Breville Group (ASX:BRG) is a company owned in the Montgomery Small Companies Fund and one we have written about extensively. Back on April 14, I wrote about Breville, its 40 per cent share price decline from August 2021 highs and the fact that it was trading on a price earnings (P/E) ratio typically reserved for retailers with store lease obligations and few runways for growth. Continue…
by Roger Montgomery Posted in Companies, Editor's Pick, Stocks We Like.
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Megaport is seeing excellent momentum
David Buckland
August 23, 2023
After exceeding $21 per share in late-2021, Megaport Limited (ASX:MP1) experienced a very rough 17 months. The company now seems to have its mojo back from the trough in April 2023. Not only has the share price more than tripled to $12.15, but this has been accompanied by some very positive company announcements. Continue…
by David Buckland Posted in Companies, Editor's Pick, Stocks We Like.
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