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Do we view Brambles as a high quality company?
Andreas Lundberg
May 2, 2019
Brambles is one of the companies that you’d think would tick quite a few of the quality criteria that we at Montgomery evaluate any potential investment on. Let’s have a look and see! Continue…
by Andreas Lundberg Posted in Companies.
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Do we see an upside for the Aussie dollar?
Andrew Macken
April 1, 2019
We have recently been asked about the Australian currency from several of our investors, and while it’s impossible to predict the future, do we foresee continued pressure on the Aussie dollar against the US dollar over the next 6 – 12 months? Continue…
by Andrew Macken Posted in Foreign Currency.
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Keeping Tabs on Property
Roger Montgomery
March 13, 2019
Home loan declines accelerated in January, falling 2.1 per cent in the month and 20.6 per cent compared to January 2018. This is the worst year-on-year fall since the GFC and loans are now down almost 25 per cent from their peak. How does this impact the mortgage system growth for the banks? Continue…
by Roger Montgomery Posted in Property.
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It’s Tech Boom 3.0
Roger Montgomery
April 2, 2019
Referencing two infamous investing quotes, I watch the enthusiasm in technology stocks wondering, “is this time different”? Or should we continue to “be greedy when others are fearful and fearful when others are greedy?” Continue…
by Roger Montgomery Posted in Companies, Editor's Pick.
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How a slowing listings environment impacts Domain and REA Group
Joseph Kim
May 13, 2019
The topic of the property market is a favourite obsession for many Australians given the significant percentage of household wealth the asset class represents for most Australians. There is plenty of media and other commentary discussing property market conditions on any given day – including from other contributors to the blog – so I won’t delve into where I think prices will go in the future. However, a slowing property market does have implications for listing volumes. Continue…
by Joseph Kim Posted in Companies, Property.
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Could Australia’s short-term rates hit Zero?
Roger Montgomery
March 27, 2019
A growing band of commentators are pondering whether Australian rates might fall further. Importantly, for investors, rate cuts from already ultra-low levels should have a positive effect on asset prices – particularly property – but the effect could be more muted, even with strong debt serviceability, given already record levels of household debt. Begging the question of whether the RBA has something else in its arsenal. Under most scenarios it does appear as though housing will be a low return asset class for some time. Continue…
by Roger Montgomery Posted in Market commentary.
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How to value Sydney Airport
Joseph Kim
March 19, 2019
Many investors regard Sydney Airport (ASX:SYD) as a key defensive asset due to its monopoly over Australia’s main gateway, solid earnings growth and yield. But just how do you value a company like SYD? In part 4 of our analysis, we look at the valuation considerations and a key issue that could impact the future earnings.
Continue…by Joseph Kim Posted in Companies.
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The Unicorn has arrived
Roger Montgomery
April 8, 2019
Investors should be aware that another tech boom appears to be underway. Exuberant valuations, zero profits and knowledgeable private equity owners lining up to sell their stakes are painting a cautious picture for technology stocks. This time the boom surrounds the conga line of technology unicorns that have filed to list, or are rumoured to do so, this year. Continue…
by Roger Montgomery Posted in Companies, Editor's Pick.
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Has Appen acquired a Committed Leadership Team?
Roger Montgomery
March 12, 2019
ASX-Listed crowdsourced data company, Appen (ASX:APX) has just announced its intention to purchase Figure Eight for its “Leading Tech Platform.” Appen will pay US$175 million upfront, which is circa 5.7 times 2018 revenue. It will also pay up to another US$125 million in March 2020 on outperformance of incremental 2019 subscription revenue targets. Continue…
by Roger Montgomery Posted in Companies.
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Uniti trying to Unify
David Buckland
April 4, 2019
Since writing about Uniti Wireless (ASX:UWL) a few weeks ago, several interesting things have happened under Michael Simmons and Vaughan Bowen’s stewardship. Continue…
by David Buckland Posted in Companies.
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A conversation with one of the owners of the largest residential builders has revealed that the slowdown in construction activity has indeed commenced. read here
