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When Warren Buffett was asked to distil the essence of investing success, he offered the following:

“Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are virtually certain to be materially higher five, 10 and 20 years from now. Over time, you will find only a few companies that meet these standards – so when you see one that qualifies, you should buy a meaningful amount of stock. You must also resist the temptation to stray from your guidelines: If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio’s market value.” Continue…

by Roger Montgomery Posted in Investing Education, Market commentary.

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Kenneth Rogoff, the American economist, chess Grandmaster, professor of international economics at Harvard University, former International Monetary Fund (IMF) chief economist and co-author of This Time is Different: Eight centuries of Financial Folly, has spent his career chronicling the anatomy of financial collapses. In his latest article for Foreign Affairs (Sep/Oct 2025), Rogoff issues a stark warning: the U.S. is flirting with a once-in-a-century debt crisis – and its current political and economic trajectory makes a crisis not just possible, but probable. Continue…

by Roger Montgomery Posted in Foreign Currency, Global markets, Market commentary.

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In this week’s video insight, the focus is on Rolls Royce’s groundbreaking technology that could transform the green energy landscape. They have partnered with Skoda JS to manufacture components for a new 470-megawatt-electric pressurised water reactor, which is compact and capable of powering a million homes for sixty years – with zero emissions. As the world shifts towards more reliable energy sources, Rolls Royce’s advancements in nuclear technology promise a smarter, emission-free future. Continue…

by Roger Montgomery Posted in Video Insights.

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Last week, I attended an Australian housing market update from Eliza Owen, Head of Research at Cotality (formerly Core Logic). Below are some key insights that I thought were worth highlighting. Continue…

by David Buckland Posted in Market commentary, Property.

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JB Hi-Fi Limited (ASX:JBH), stamped its leadership on Australia and New Zealand’s retail landscape again, delivering impressive financial year 2025 (FY25) results, and demonstrating exceptional resilience across its portfolio of brands – JB Hi-Fi, The Good Guys, and the recently acquired E&S. With its laser-like focus on technology, consumer electronics, and home appliances, JB Hi-Fi continues to win customers, and market share, particularly among younger, tech-savvy shoppers. Continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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The latest data out of China reveals the country is sliding deeper into deflation. In May 2025, consumer prices fell 0.1 per cent year-on-year, the fourth consecutive monthly decline, while producer prices plunged 3.3 per cent – the steepest drop since mid-2023. Continue…

by Roger Montgomery Posted in Foreign Currency, Market commentary.

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Super Retail Group (ASX: SUL), the parent company of brands like Supercheap Auto (SCA), Rebel Sport, BCF, and Macpac, just released its full-year 2025 results, delivering a strong performance and beating consensus net profit after tax (NPAT) and earnings before interest and tax (EBIT) expectations on the back of accelerating like-for-like (LFL) sales growth, better-than-expected gross margins, and tight cost control. Continue…

by Roger Montgomery Posted in Companies.

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Cochlear’s financial year 2025 (FY25) results delivered a steady, if unspectacular, performance that broadly aligned with the company’s June guidance reset. Revenue came in at $2.34 billion, consistent with market expectations following the downgrade, while underlying net profit landed at $392 million – the low end of the revised $390-400 million range.

These results reflected a year of mixed dynamics: implants and acoustics continued to post strong growth, but the Services segment remained a significant drag on both revenue momentum and operating leverage. Continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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Over the weekend, many Australians took to the streets to raise awareness about the adverse consequences and costs of Australia’s current migration policy. Those marches were peaceful, except, of course, in Victoria (where the government has legislated, or seeks to legislate, working from home and stealing from Woolworths, Bunnings, and Coles). Unfortunately, a radical element has grabbed the headlines, but setting those headlines aside, it is worth noting that the current architects of Australia’s migration policy have MPs who agree the system is broken and failing to deliver for Australia. Continue…

by Roger Montgomery Posted in Market commentary.

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An article published by the Shanghai Metal Market on 7 June 2025, revealed that the People’s Bank of China (PBOC) increased its gold reserves for the seventh consecutive month, up 60,000 ounces month-on-month. Continue…

by Roger Montgomery Posted in Foreign Currency, Global markets, Market commentary.

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