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Statewide Drive – Stagflation and rising debt
Roger Montgomery
September 5, 2025
This week on ABC Statewide Drive with Jess Maguire, I explored the risks of stagflation and rising debt. While markets may look strong on the surface, the reality is more complex. Stagflation – when economic growth slows or stalls while prices continue to rise – creates a challenging environment for investors. We’re beginning to see signs of a slowing economy alongside persistent inflation, and that combination is far from ideal. So, what does this mean for share prices, and how should investors think about adapting their portfolios?
Listen to the full conversation from 1:44:30 here: Statewide Drive – Stagflation and rising debt
by Roger Montgomery Posted in Radio.
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Auzbiz – How can investors navigate mixed signals?
Roger Montgomery
July 24, 2025
This morning on Ausbiz with Juliette Saly, we unpacked the confusing signals coming from global markets. Despite geopolitical turmoil, rising inflation expectations, and forecasts of rate cuts – which usually signal economic weakness – equity markets are hitting all-time highs, credit spreads remain narrow, and liquidity appears abundant. Continue…
by Roger Montgomery Posted in TV Appearances.
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Ausbiz – the liquidity engine driving markets to new heights
Roger Montgomery
August 7, 2025
This morning i joined Juliette Saly on Ausbiz to discuss how investors should focus on central bank actions rather than rhetoric – given liquidity continues to be a key driver behind today’s market momentum. Over the past year, global liquidity has surged by around US$10 trillion, helping to fuel the dramatic rise in equities, defence stocks, and artificial intelligence (AI). Continue…
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ABC Nightlife – debt, hype and the case for diversification
Roger Montgomery
August 27, 2025
Last night I joined Phil Clark on ABC Nightlife to explore Kenneth Rogoff’s warnings on the looming U.S. debt pile and the end of the “free money” era, and why investors should stay cautious. With debt levels near WWII highs, foreign buyers showing less appetite for U.S. bonds, and Trump’s tax cuts paired with massive borrowing, the risks of a crisis are mounting. Continue…
by Roger Montgomery Posted in Value.able.
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What’s the CAGR?
Roger Montgomery
August 27, 2025
I am fascinated by the standard descriptions of returns cited by commentators in the real estate market. I am also disappointed that a regular opportunity to educate investors about returns is so frequently missed.
Back in July, an article in The Australian Financial Review, entitled Renovators’ return: How to maximise property value in 2025, observed, “The nurse and engineer have transformed the house they bought in Adelaide’s seaside Glenelg for $450,000 back in 2012. They’re now looking to sell for $1.9 million, a four-fold return compared with the doubling of house prices over the same period.” Continue…
by Roger Montgomery Posted in Market commentary.
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ABC The World Today – is liquidity fuelling the meme stock frenzy?
Roger Montgomery
July 30, 2025
I joined David Taylor on ABC’s The World Today to discuss the growing wave of speculative euphoria sweeping global financial markets. From meme stocks and cryptocurrencies to gold and penny stocks, investors are chasing high returns. Could this just be a reflection of greater liquidity? Continue…
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Liquidity, debt, and what it means for equities
Roger Montgomery
August 23, 2025
In an interview earlier this month, Michael Howell of CrossBorder Capital delivered his analysis of the global liquidity environment and its implications for financial markets. His message to investors was clear: liquidity, not interest rates or economic cycles, remains the true driver of asset performance – and right now, the liquidity tide is rising. But as always, tides reverse. Continue…
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ABC Nightlife – are markets getting ahead of themselves?
Roger Montgomery
July 31, 2025
I joined Phil Clark on ABC Nightlife to explore why markets are rallying despite wars, tariffs, and economic uncertainty. I explained how abundant liquidity is fuelling speculation – from meme stocks to cryptocurrency – and shared why investors should tread carefully. Continue…
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Celebrating another milestone – 96 positive consecutive monthly returns, 9.55% p.a. since inception
Roger Montgomery
September 9, 2025
Montgomery Investment Management recently celebrated the 8th anniversary of the Aura Private Credit Income Fund (the Fund), and its 96 consecutive positive monthly cash distribution, delivering a compound net return of 9.55 per cent per annum since inception in August 2017.* Continue…
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ABC Statewide Drive – making sense of market highs in hard times
Roger Montgomery
July 25, 2025
Yesterday I joined Jess Maguire on ABC Statewide Drive to discuss why markets are defying expectations and soaring to new highs despite escalating global tensions, war, and looming U.S. tariffs.
I explained that while investors typically flee from uncertainty, many are instead focused on the potential benefits of select Trump policies and the artificial intelligence (AI) boom, creating a surge in optimism. Continue…
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The world is volatile. Your financial future doesn’t have to be. Explore our private credit funds here.