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Is QBE finally back on track?
Sean Sequeira
March 9, 2023
Just a cursory glance at the share price history of QBE Insurance Group (ASX:QBE) is enough to scare most investors away. After hitting a high of around $34 back in 2007, the stock has more than halved to around $15. But a new management team seems to be steering the business in the right direction, and many analysts see QBE as a turnaround story. Continue…
by Sean Sequeira Posted in Companies, Editor's Pick, Stocks We Like.
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Is Corporate Travel the pick of Australia’s travel stocks?
Sean Sequeira
January 18, 2023
The COVID-19 pandemic smashed the earnings of travel businesses across the globe. But here in Australia, Corporate Travel Management (ASX:CTD) not only withstood the tourism downturn – it was able to grow. With its share price still below the pre-COVID-19 level, and the business in great shape, Corporate Travel Management is a quality company with potential for much larger earnings growth in the years ahead. Continue…
by Sean Sequeira Posted in Companies, Editor's Pick, Stocks We Like.
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Hardly normal conditions for Harvey Norman
Roger Montgomery
March 6, 2023
For big-ticket household items, established retailer Harvey Norman (ASX:HVN) is a bellwether company, offering insights into consumer behaviour and retail conditions, particularly in Australia. The company recently released its first-half results, and reactions were mixed. Continue…
by Roger Montgomery Posted in Companies, Consumer discretionary.
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Australian superfunds driving growth in private debt
Dean Curnow
February 3, 2023
At the end of 2021, Ernst and Young in an annual paper exploring the private debt market in Australia estimated its size to be AU$133 billion and growing 21 per cent year on year.[1] Whilst at a record size for Australia, it remains vastly immature when compared globally where the private debt market is estimated to be as large as US$1.2 trillion which has grown by 13.5 per cent annually over the last decade.[2] Continue…
by Dean Curnow Posted in Aura Group.
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Get set for the year of efficiency
Roger Montgomery
February 8, 2023
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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What does the U.S. yield curve tell us about recessions?
Roger Montgomery
March 16, 2023
Today, the vast majority of the U.S. yield curve is negatively sloped. Every time this has happened in the past, a recession soon followed. This is no doubt troubling for those adversely affected. But, as an investor, I am not unduly concerned – any market turmoil could present opportunities to invest in quality businesses at bargain prices. Continue…
by Roger Montgomery Posted in Editor's Pick, Global markets.
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I was late to the party, but “I’ve got to contain inflation”
David Buckland
February 22, 2023
“I’ve got to contain inflation. I’ve got to convince the community that we’re serious about that. That’s our job and its unpopular and I accept that”. Philip Lowe, Governor of the Reserve Bank of Australia. Continue…
by David Buckland Posted in Market commentary.
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The silver lining in higher rates
Roger Montgomery
February 21, 2023
Financial media is replete with stories observing the fastest increase in interest rates in recent memory, the end of the declining interest rate era, how the fastest rise in short-term rates is inverting the yield curve (2-year bond yields higher than 10-year bonds) and predicting a recession, rising rates are causing the property market to collapse, and how causal inflation is responsible for it all and the financial destruction of many peoples’ lives. Continue…
by Roger Montgomery Posted in Aura Group.
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Gary’s best and worst pick from reporting season so far
Scott Phillips
February 23, 2023
In this video Scott speaks with Gary Rollo, portfolio manager of the Montgomery Small Companies Fund on an update on small caps reporting this results season. There’s been more beats from an earnings point of view than misses, but that’s looking backwards. Outlooks count because after all, the stock market buys the future and those have definitely been more negative. Gary also shares one of the best results he has seen and one of the worst. Continue…
by Scott Phillips Posted in Editor's Pick, Stocks We Like, Video Insights.
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Don’t bet on a U.S. recession in 2023
Roger Montgomery
March 1, 2023
After a 4.65 per cent increase in interest rates this past year, why isn’t the U.S. economy tanking? And why aren’t retail sales plummeting? One reason, perhaps, is that during the pandemic, many home buyers locked in fixed-rate 30-year mortgages at ultra-low rates, and they are thus unaffected by recent rate rises. If I’m right, the U.S. economy might avoid a recession in 2023. Continue…
by Roger Montgomery Posted in Editor's Pick, Global markets.
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