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MEDIA
Fear + Greed – what went wrong at Myer
Roger Montgomery
September 24, 2025
I joined Sean Aylmer on Fear + Greed yesterday to discuss Myer’s disappointing announcement of a 30 per cent decline in profit, which was followed by a 25 per cent drop in its share price.
So, what went wrong?
As a traditional bricks-and-mortar department store, Myer has been grappling with significant challenges. Its move into the highly competitive online retail space has brought debt and complex integration issues, while also placing it in direct competition with pure-play online retailers. Continue…
by Roger Montgomery Posted in Companies, Market commentary, Podcast Channel.
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MEDIA
To help fix the housing crisis, we need smarter migration policy
Roger Montgomery
September 18, 2025
As investors, we have a particular interest in Australia’s condition, its desirability as a destination for living and its quality as a destination for investing. For some time now, I have feared better destinations exist elsewhere. Whether deliberate or unwitting, the government is not prioritising the betterment of the nation. Continue…
by Roger Montgomery Posted in In the Press, Property.
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Optimism surrounds artificial intelligence numbers
Roger Montgomery
October 1, 2025
As I delve a little deeper into the aggregate artificial intelligence (AI) capital expenditure (capex) numbers and the revenue and profits subsequently required to recoup them, one thing stands out: a world of AI forecasts that are universally optimistic.
That’s not usual in any hype-inspired boom, but these numbers are extraordinary. Continue…
by Roger Montgomery Posted in Market commentary, Technology & Telecommunications.
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The crypto treasury frenzy
Roger Montgomery
October 2, 2025
This U.S. summer, a new investment frenzy – akin to the SPAC (Special Purpose Acquisition Company) exuberance of 2020/21 – has gripped Wall Street as companies transform their balance sheets into crypto vaults. And as September unfolds, the corporate dash into cryptocurrencies shows no signs of slowing.
From Japanese hotel operators to chipmakers, tech startups, and legacy manufacturers, they have all funnelled tens of billions into Bitcoin and altcoins, reimagining their cash reserves as bets on digital assets. Continue…
by Roger Montgomery Posted in Digital Asset Funds Management, Global markets, Market commentary.
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Decoding mixed signals
Roger Montgomery
July 25, 2025
Financial markets are acting like a friend who says one thing but does another. Investors are sending conflicting messages about the economy, interest rates, and what’s coming next.
The mixed signals
Investors are betting that the Federal Reserve will cut interest rates by up to two per cent over this easing cycle. Trump of course, always the glutton, wants even more. That’s a big deal – rate cuts of this size usually happen when the economy is in trouble or heading into a recession. Lower rates make borrowing cheaper, encouraging spending and investment to boost a slowing economy. Continue…
by Roger Montgomery Posted in Market commentary.
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CrossBorder Capital’s liquidity warning
Roger Montgomery
October 1, 2025
CrossBorder Capital’s latest report by founder Michael Howell paints an ominous picture of a maturing global liquidity cycle, raising concerns that the U.S. Federal Reserve’s (the Fed) waning role in providing liquidity (the fuel for market and asset rises) has negative implications for markets and the U.S. economy.
Howell’s analysis concentrates on the September Federal Open Market Committee (FOMC) meeting, where a 25-basis-point rate cut was delivered alongside hints of further cuts, consistent with Trump’s demands. Yet, he labels this a “hawkish cut,” emphasising the Fed’s tough stance on liquidity. Fed Chair Jerome Powell, incoming appointee Stephen Miran, and Treasury Secretary Scott Bessent are reportedly aligned in their push to shrink the Fed’s balance sheet and minimise its market influence. Continue…
by Roger Montgomery Posted in Global markets, Market commentary.
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The hidden perils of plugging in
Roger Montgomery
October 3, 2025
In the sun-drenched suburbs of Sydney and the graffiti-covered laneways of Melbourne, electric vehicles (EVs) are silently zipping around, charging up in garages, and bringing smiles to the faces of those who voted for Labor’s march toward net zero.
It is, without doubt, a feel-good story: cleaner air for the user, reduced emissions for the suburb, and tech-savvy signalling to everyone else on the road. But beneath the glossy ads and government incentives lies a darker undercurrent – one that cybersecurity experts, former military leaders, and national security advisors have recently shouted from the rooftops. Continue…
by Roger Montgomery Posted in Manufacturing.
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Adviser report reveals increasing wealth
Roger Montgomery
September 2, 2025
Amid the generational avalanche that is retiring baby boomers, Adviser Ratings released their 7th Annual Australian Financial Advice Landscape Report – 2025, earlier this month, which highlighted some fascinating shifts in the adviser ecosystem and in the relationship between clients and financial advisers. Continue…
by Roger Montgomery Posted in Financial Services.
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What to watch this reporting season: a primer
Roger Montgomery
August 6, 2025
Earlier this week, we published our Financial Year 2025 (FY25) Reporting Season calendar, so make sure you have a look at that. Here a quick overview of what you could be watching for as Australia’s FY25 reporting season gets underway.
While equity markets have demonstrated resilience through the first half of the year, this earnings season could prove to be an inflection point – one that will either reaffirm confidence or expose the cracks beneath recent optimism. Continue…
by Roger Montgomery Posted in Companies.
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Tariffs are back… bigger and better than ever
Roger Montgomery
August 12, 2025
In 2025, the U.S. enacted the most significant trade policy shift in decades, with average tariffs rising from roughly 2.4 per cent in January to approximately 18–20 per cent by August, levels not seen since the 1930s.
In some cases, duties on Chinese imports have exceeded 50 per cent, marking a sharp departure from the stable global trade arrangements of recent decades. Continue…
by Roger Montgomery Posted in Market commentary.
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