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Nick Scali Limited (ASX:NCK), a holding in the Montgomery Small Companies Fund has released its half-year 2025 (1H25) results. Despite the mixed headline picture, Nick Scali’s 1H25 results outperformed consensus estimates. Continue…

by Roger Montgomery Posted in Companies, Small Caps, Stocks We Like.

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Two months into 2025 and a palpable sense of disquiet seems to have settled over equity markets. Far from the jubilant ascents of the previous two years, the stock market’s performance this year has been a sobering affair, marked by a notable absence of vigour. Continue…

by Roger Montgomery Posted in Technology & Telecommunications.

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On the surface, evidence shows that the Australian Securities Exchange (ASX) may be at a crossroads. Companies like James Hardie are jumping ship for U.S. primary listings, Australian investors are piling into American stocks, and local unicorns like Canva might not even glance at the ASX for their big initial public offering (IPO) debut. It’s not a collapse – yet; remember, Guzman Y Gomez (ASX:GYG) chose Australia over a U.S. listing – but the cracks are starting to show. Is the ASX in trouble or just stuck in a tough spot? Continue…

by Roger Montgomery Posted in Global markets, Market commentary.

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U.S. President Donald Trump has embarked on what some say is a belligerent and dangerous mission to upend and reshape the international economic and competitive landscape through a series of aggressive tariff policy changes. His approach which is characterised by sudden shifts and strategic reversals, aims to bolster American manufacturing and fill government coffers. Continue…

by Roger Montgomery Posted in Global markets, Market commentary.

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With our own construction industry grappling with challenges and vulnerabilities highlighted by a wave of recent high-profile collapses, investors – especially private credit investors – you need to sit up, pay attention and make some decisions. Continue…

by Roger Montgomery Posted in In the Press.

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In this week’s video insight, I discuss tariffs; what they are, how they work, and their broader impact. While much attention is on recent geopolitical theatrics, tariffs are reshaping trade and markets. Rather than speculating on their effects, I break down their mechanics, from taxation, to supply chains and consumer prices. Continue…

by Roger Montgomery Posted in Video Insights.

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by Roger Montgomery Posted in Global markets.

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TUAS Limited (ASX:TUA), an emerging player in the Singapore telecom market, has caught the attention of investors and analysts alike. With its subsidiary, Simba, driving robust subscriber growth and a bold expansion into broadband and innovative eSIM products, TUAS is positioning itself as a formidable contender in a highly competitive landscape. A 31 March, 2025 report from broker, Peloton Capital, paints an optimistic picture, valuing the stock at A$8.04 and offering significant upside potential.

Let’s see if this ASX-listed telecom stock deserves further investigation. Continue…

by Roger Montgomery Posted in Companies.

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President Donald Trump’s tariff policies have understandably sparked fierce debates, with supporters praising their intent to bolster American economic strength as a reflection of the nation’s geopolitical pre-eminence and critics warning of unintended fallouts.

At their core, these tariffs aim to reshape global trade dynamics in favour of the U.S. But are these measures a masterstroke for American prosperity, or do they risk unravelling the very economic stability they seek to secure? I thought it might be worth unpacking the motivations behind Trump’s tariffs, their potential upsides, and the complex consequences that could follow. Continue…

by Roger Montgomery Posted in Market commentary.

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I joined Sean Aylmer on the Fear and Greed podcast to explore what happens when companies are taken over. We discussed James Hardie’s planned merger with U.S. giant AZEK – a deal that will shift the company’s primary listing to Wall Street, with a secondary listing on the ASX. Meanwhile, Australian investors are increasingly buying U.S. shares. So, is the local stock exchange at risk? Should the ASX be concerned?

by Roger Montgomery Posted in Podcast Channel.

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