-
Why Private Debt may be superior to bonds
Roger Montgomery
March 3, 2023
Looking for a higher rate of income? Who isn’t? But are bonds best? For decades investors have been told bonds provide uncorrelated ‘ballast’ for a portfolio of shares whilst generating much-needed regular income. The idea has been that shares offer growth, with bonds also offering diversification and stability. Continue…
by Roger Montgomery Posted in Aura Group, Editor's Pick.
- save this article
- POSTED IN Aura Group, Editor's Pick.
-
Adairs sheets home the blame for its poor HY23 result
Roger Montgomery
February 21, 2023
If you needed more convincing that Australia’s retailers are doing it tough, take a look at the HY23 result from manchester and homewares retailer Adairs (ASX:ADH). ‘Weak’, ‘disappointing’, ‘a miss’. That’s how various commentators described the result. But with the share price already in the doldrums, and the company paying an attractive dividend, the market seemed none too concerned. Continue…
by Roger Montgomery Posted in Companies, Consumer discretionary.
- save this article
- POSTED IN Companies, Consumer discretionary.
-
Why you shouldn’t worry about ‘what comes next’
Roger Montgomery
February 28, 2023
Lately, I’ve seen a number of media reports pondering if world economies – and equity markets – are headed for a soft, hard or no landing. To me, this kind of talk is a bit of a distraction. Because, as a long-term investor, the objective is still the same: to buy quality companies at good prices. Continue…
by Roger Montgomery Posted in Market commentary.
- save this article
- POSTED IN Market commentary.
-
Has Carsales paid too much to buy Trader Interactive?
Roger Montgomery
February 9, 2023
Since its founding in Melbourne in 1997, carsales.com (ASX: CAR) has grown its footprint to now operate in digital marketplaces across Oceania, Asia and the Americas. This has largely been done via acquisitions. However, I’m scratching my head over its recent acquisition of the US marketplace, Trader Interactive. To my mind, they have simply paid too much. Continue…
by Roger Montgomery Posted in Companies, Investing Education.
- save this article
- POSTED IN Companies, Investing Education.
-
Wonderful companies at wonderful prices?
Polen Capital
February 2, 2023
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”1 This well-worn adage from Warren Buffett has guided our investment approach for over thirty years and is the title of a piece we published in 2018.2 Given recent market conditions, we’ve chosen to revisit this concept. Continue…
by Polen Capital Posted in Polen Capital.
- save this article
- POSTED IN Polen Capital.
-
What is next for small caps?
Polen Capital
February 17, 2023
The past year posed considerable challenges for equity investors, including runaway inflation, a rising interest rate environment, geopolitical tensions, and the lingering effects of the pandemic. The confluence of these headwinds – and a lack of positive catalysts – roiled market sentiment, resulting in most equity analysts adjusting their expectations for corporate earnings growth substantially lower. Continue…
by Polen Capital Posted in Polen Capital.
- save this article
- POSTED IN Polen Capital.
-
Nick Scali is the latest retailer hit by the consumer pull-back
Roger Montgomery
February 10, 2023
On first blush, the much-anticipated consumer slowdown does not appear to have impacted Nick Scali (ASX:NCK), which reported half-year 2023 results earlier this week. But delving more deeply into the trading update reveals a different story. Continue…
by Roger Montgomery Posted in Companies, Consumer discretionary.
- 4 Comments
- save this article
- 4
- POSTED IN Companies, Consumer discretionary.
-
December quarter update on the Polen Capital Global Small and Mid Cap Fund
Polen Capital
January 23, 2023
The fourth quarter of 2022 echoed themes that endured throughout the year, and despite posting double-digit returns over the quarter, 2022 ended with the largest annual decline since 2008. While multiple compression was behind the broad decline over the year, the fourth quarter saw multiples expand for the first time since Q4 2021. Signs of inflation slowing mostly drove this reversal. Continue…
by Polen Capital Posted in Polen Capital.
- save this article
- POSTED IN Polen Capital.
-
ASX consumer discretionary stocks: Broker views and a fundie’s top pick
Sean Sequeira
January 9, 2023
Glenn Freeman published an article in Livewire Markets discussing what lies ahead for the consumer discretionary sector in the year ahead. Australian Eagle’s Sean Sequeira says there is a good reason that some stocks in the sector currently look cheap and many of these share prices don’t align with where they’ll be 12 months from now. Read the article: ASX consumer discretionary stocks: Broker views and a fundie’s top pick
by Sean Sequeira Posted in On the Internet.
- READ ONLINE
- save this article
- POSTED IN On the Internet.
-
A $9 billion Opportunity for Non-bank SME Lenders
Brett Craig
January 30, 2023
The conclusion of the Term Funding Facility and conclusion of the Federal Government Coronavirus SME Guarantee Scheme means approximately $9 billion1 of SME credit will require refinancing by Australian non-bank lenders over 2023 and 2024. Continue…
by Brett Craig Posted in Aura Group.
- save this article
- POSTED IN Aura Group.
Join us and Polen Capital for an engaging discussion on the state of high-quality global growth investing. Register now
