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This article was first published in The Australian on 30 March 2013.

Back in 2013, Wesfarmers (ASX:WES) chairman and head of a business council panel on the decline of value-adding and manufacturing in Australia Bob Every described Australia as a mere “quarry”. Continue…

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

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You gotta love it when a party ends and the lights come on. Blinking and adjusting to the bright lights, you begin to see clearly that which was previously blurry and obscured. 

One of the most repeated mistakes equities investors make is the assumption that their poster-child industry leader will always remain so. Nobody ever seems to assume that competitors will emerge and take a significant share from the first mover. That failure leads to sky-high price-to-earning (P/E) ratios and unrealistic pricing. Continue…

by Roger Montgomery Posted in Companies, Technology & Telecommunications.

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In this video, Brett Craig from Aura Credit Holdings addresses the myth that private credit is illiquid and funds are locked until maturity. He explains that the Aura Private Credit Income Fund offers monthly liquidity windows, allowing investors to redeem funds from available cash or loan repayments. Continue…

by Roger Montgomery Posted in Aura Group, Video Insights.

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According to multiple commentators and outlets reporting on those commentators, the equity market is now at a euphoric level – officially. Evidently, there’s a measure for euphoria produced by Callum Thomas, the founder of Topdowncharts, in Queenstown, New Zealand. Continue…

by Roger Montgomery Posted in Market commentary.

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The U.S. recorded its 23rd consecutive federal deficit in the year to September 2024 at US$1.83 trillion, around 6.5 per cent of gross domestic product (GDP). For October and November 2024, the federal budget deficit hit US$622 billion, up US$242 billion or 64 per cent year-on-year. Admittedly, some of the jump was related to timing differences. Continue…

by David Buckland Posted in Economics.

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As Christmas approaches and we gradually unplug from the frenzied activity of another year, I’d like to leave you with a brief summary of the year that was, provide some guidance on what 2025 might bring and offer you my prayers for a safe and peaceful Christmas. Continue…

by Roger Montgomery Posted in Market commentary.

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by Roger Montgomery Posted in Small Caps, TV Appearances.

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Although recent Federal Reserve statements about slowing the pace of future rate cuts prompted a swift market pullback and led to higher bond yields, many analysts believe any downturn will be short-lived.

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by Roger Montgomery Posted in In the Press.

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John Templeton famously observed; bull markets are born on pessimism, grow on scepticism, mature on optimism, and die on euphoria.

With several commentators now labelling markets euphoric, the call for a correction is becoming louder. Continue…

by Roger Montgomery Posted in Economics, Market commentary.

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The Reserve Bank of Australia (RBA) is fighting the government sctor where aggregate expenditure has jumped from a long-term average of 22.5 per cent of gross domestic product (GDP) for the five decades from 1970 to a forecast 28 per cent of GDP. “Underlying inflation” is running at 3.5 per cent, and the strength of public spending has been underappreciated, assisting aggregate demand and keeping unemployment low.    

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by David Buckland Posted in Economics.

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• POSTED IN Economics.