On first blush, the much-anticipated consumer slowdown does not appear to have impacted Nick Scali (ASX:NCK), which reported half-year 2023 results earlier this week. But delving more deeply into the trading update reveals a different story. Continue…

by Roger Montgomery Posted in Companies, Consumer discretionary.

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The Australian market was dragged higher in January by roaring global markets. It has really been a case of last year’s losers being this year’s winners. By way of example US-listed Facebook’s peak-to-trough drawdown described a fall of 76 per cent. Facebook shares rose 55 per cent in January. However, I am not too excited, Facebook shares are still down 52 per cent from their high. Watch: In the markets, last year’s losers are this year’s winners

by Roger Montgomery Posted in On the Internet.

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Since its founding in Melbourne in 1997, carsales.com (ASX: CAR) has grown its footprint to now operate in digital marketplaces across Oceania, Asia and the Americas. This has largely been done via acquisitions. However, I’m scratching my head over its recent acquisition of the US marketplace, Trader Interactive. To my mind, they have simply paid too much. Continue…

by Roger Montgomery Posted in Companies, Investing Education.

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IMDEX (ASX:IMD) reported a strong set of 1H23 results, well ahead of consensus with revenue up 18.5 per cent from 1H22 and EBITDA up 21.9 per cent from 1H22.  Despite great results these were overshadowed by IMDEX’s proposed acquisition of Devico, which appears highly strategic. Dominic joined IMDEX’s CEO Paul House to take a deep dive into the proposed acquisition which is highly strategic with strong synergies. Continue…

by Dominic Rose Posted in Companies, Editor's Pick, Montgomery Small Caps Management Video Series, Stocks We Like, Video Insights.

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Roger joined Philip Clark on ABC Nightlife to discuss whether historical trends and precedents can help guide you in the future. Discussing the issues weighing on financial markets and if there could be a bull market happening this year. In the very worst years, when the market fell between 30-50 per cent, after those years what we find is that the pendulum then swung almost completely the other way.

Does past performance help us predict future performance?
Listen to the podcast here: ABC Nightlife 7 February 2023

by Roger Montgomery Posted in Radio.

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After a big spending couple of years, Meta CEO, Mark Zuckerberg, last week declared 2023 would be a “year of efficiency.” Zuckerberg’s statement sent Meta’s share price soaring. And his objective of delivering a leaner organisation in the face of a slowing economy is shared by many U.S. companies now reporting full-year 2022 results. Efficiency, it seems, will be one of the key themes this reporting season. Continue…

by Roger Montgomery Posted in Companies, Technology & Telecommunications.

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All English-speaking Central Banks seem committed to higher official cash rates. This interest rate tightening cycle began in New Zealand on 6 October 2021, and six months later Australia was the last to blink, on 6 April 2022. Continue…

by David Buckland Posted in Market commentary.

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Just how do you value a company like Lark Distilling (ASX:LRK), whose main asset (award-winning Tasmanian whisky) is locked up for years, but increases in value as it matures. The answer: it’s hard. Continue…

by Roger Montgomery Posted in Companies, Editor's Pick.

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