Popular Articles

The U.S. economy and stock market are teetering, according to Federal Reserve Chair Jerome Powell and billionaire hedge fund manager Paul Tudor Jones. Together, they warn that aggressive tariffs and a cautious monetary policy result in the economy and market facing heightened inflation risks, unemployment, and a downturn. Continue…

by Roger Montgomery Posted in Market commentary.

• save this article
• POSTED IN Market commentary.

I recently joined Paul Turton on ABC Newcastle Mornings to discuss the market turmoil triggered by Trump’s tariffs. Investor sentiment plays a significant role in the rise and fall of markets, and right now investor confidence is shaken. During this segment we explored what investors should keep in mind during this period of heightened volatility. Continue…

by Roger Montgomery Posted in Radio.

• LISTEN
• save this article
• POSTED IN Radio.

I joined Philip Clark on ABC Nightlife to unpack the recent market volatility, sparked by Donald Trump’s latest tariff announcements – and what’s next for equities, interest rates, and global markets. Continue…

by Roger Montgomery Posted in Radio.

• LISTEN
• save this article
• POSTED IN Radio.

In a May 2025 letter to clients entitled ‘Brace for Impact’, Perpetual Asset Management Australia (ASX:PPT) echoed the cautionary sentiments of legendary investor Paul Tudor Jones, warning investors to “brace for impact” as markets fail to price in an economic slowdown already underway.

Their letter highlights a precarious optimism in U.S. equity markets, despite looming threats from trade wars, elevated valuations, and diminishing diversification from traditional safe havens like U.S. treasury bonds. Continue…

by Roger Montgomery Posted in Global markets.

• save this article
• POSTED IN Global markets.

The U.S. Copyright Office recently released a detailed report on the complex issue of using copyrighted materials to train artificial intelligence (AI) models, which has sparked heated debate in the tech and creative industries. However, the report’s measured recommendations were overshadowed by the Trump administration’s swift dismissal of the office’s director. Continue…

by Roger Montgomery Posted in Market commentary.

• save this article
• POSTED IN Market commentary.

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.

• save this article
• POSTED IN Podcast Channel.

In the world of investing, few ­assets are as polarising as cash. On one hand, holding cash in an environment where interest rates lag inflation guarantees a loss of purchasing power. On the other hand, cash can be a powerful tactical tool for seizing opportunities, particularly in times of market distress.

This article was first published in The Australian on 24 April 2025. Continue…

by Roger Montgomery Posted in In the Press.

• READ
• save this article
• POSTED IN In the Press.

The bond market is currently grappling with significant turbulence, driven by a confluence of fiscal, monetary, and geopolitical factors. Investors are shying away from bonds, particularly U.S. Treasurys, as yields climb and uncertainty mounts. This article explores what’s happening in the bond market, why it’s occurring, and the implications for equity markets in both the short and long term, offering guidance for investors navigating this challenging landscape. Continue…

by Roger Montgomery Posted in Market commentary.

• save this article
• POSTED IN Market commentary.

Last week, REA Group delivered a broadly in-line third quarter result, highlighting the resilience of its pricing power and disciplined cost management, even as listing volumes soften into the final quarter.

Revenue for the period rose 12 per cent year-on-year to A$374 million, essentially matching market expectations, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) excluding associates increased 12 per cent to A$199 million, just shy of consensus estimates. Free cash flow was robust at A$132 million, marking a 19 per cent year-on-year increase. Continue…

by Roger Montgomery Posted in Companies, Property.

• save this article
• POSTED IN Companies, Property.

We recently published a blog post here showing that all of Berkshire Hathaway’s alpha between 2016 and 2023 came from just one stock – Apple. Without Apple, Berkshire would have underperformed the S&P 500. 

I know firsthand how challenging it can be to invest in equities. Pursuing exceptional returns requires the ability to identify rare out-performers and the discipline to hold them through inevitable market turbulence. Continue…

by Roger Montgomery Posted in Investing Education.

• save this article
• POSTED IN Investing Education.