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I joined Paul Turton on ABC Newcastle Mornings to talk about digital asset funds – what they are, how investors can gain exposure to cryptocurrencies without directly buying or managing them, and whether the asset class is becoming more mainstream. We explored real-world cases that show why blockchain makes sense, as a digital version of cash that enables frictionless payments while bypassing banks to help preserve wealth. With regulation on the way, the space is becoming more comfortable for investors. Bitcoin isn’t going anywhere, but the real question is what’s driving its price higher. I also touched on funds that profit from bitcoin regardless of price direction by arbitraging futures contracts. You can listen to the full interview here: ABC Newcastle Mornings – Is cryptocurrency becoming more mainstream? 

by Roger Montgomery Posted in Radio.

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I recently penned a blog post in which I highlighted the market-related concerns of American economist, chess Grandmaster, professor of international economics at Harvard University, former International Monetary Fund (IMF) Chief Economist and co-author of This Time is Different: Eight centuries of Financial Folly, Kenneth Rogoff. Continue…

by Roger Montgomery Posted in Global markets, Market commentary.

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I joined Michael Thompson on FEAR + GREED podcast to unpack one of the most volatile reporting seasons in recent memory. From sharp share price swings to three key lessons for investors — including signs of recovery, earnings downgrades, and the resurgence of small caps — this episode cuts through the noise to help you make sense of the market.

Listen to the full episode here:

by Roger Montgomery Posted in Market commentary, Podcast Channel.

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In my article for Firstlinks, I explore whether a new brand of capitalism is emerging – one where governments take equity stakes in key industries to fund public services. Drawing on recent moves by the U.S. under Trump, I ask if Australia should consider a similar model to turn our resource wealth into broader social good, rather than relying solely on higher taxes or immigration.

You can read the article here: Firstlinks – Should Australia follow Trump’s new brand of capitalism? 

by Roger Montgomery Posted in In the Press, On the Internet.

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There are four major criticisms for holding cash as an investment. But what if there was a simple alternative that went some way to invalidating those criticisms? Continue…

by Roger Montgomery Posted in Aura Group, Investing Education.

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At face value, Iluka Resources (ASX:ILU) is best known as a mineral sands producer. However, the market continues to undervalue the hidden strategic and financial assets embedded across its diversified portfolio. With a current market capitalisation of over A$3 billion, Iluka trades below the implied value of its tangible holdings alone  – ~A$1 billion in mineral sands inventory, ~A$1.3 billion in rare earths concentrate feedstock (potentially greater than A$2 billion Net Present Value (NPV)) and a A$450 million equity stake in Deterra Royalties (ASX:DRR) – therefore ascribing very little value to the core mineral sands business. Continue…

by Sean Sequeira Posted in Companies, Stocks We Like.

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I recently read an interesting post on Substack about the state of the market. However, there was one paragraph whose significance might have been missed, even by those who subscribe to the author’s musings.  

Here’s the paragraph in question, followed by what I hope will prove a useful explanation.

The paragraph was titled “No Equity Risk Premium.”

“Meanwhile the macro-middle scenario that has prevailed in 2025 has helped stocks push higher, and with still elevated bond yields that has squeezed the forward-looking “prospective equity risk premium” deeper into the negatives. That may not matter this week, this month, or even this quarter, but it does tell us the forward looking risk vs return set points to an entirely different regime than what we’ve become accustomed to.” Continue…

by Roger Montgomery Posted in Aura Group, Investing Education.

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If you were listening carefully during reporting season, you might have noticed a growing buzz around small-cap stocks, both here in Australia and in the United States.

More investors are now seeing small caps as a hidden gem. Small caps seem undervalued, overlooked, and are showing signs of a strong recovery. 

If you don’t already have an allocation to small caps in your portfolio, now could be the right time to take a closer look. Continue…

by Roger Montgomery Posted in Companies, Investing Education, Market commentary.

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Last week, The Wall Street Journal (WSJ) published a piece commenting on the artificial intelligence (AI) infrastructure frenzy. As an investor, one can’t help but be awestruck while also feeling concern and a more than a hint of déjà vu.

According to the WSJ, Ellendale, North Dakota, is a sleepy town of just 1,100 now playing host to a half-built AI data centre that’s will be larger than 10 Home Depots – the U.S. equivalent of a large format Bunnings Warehouse here in Australia. Continue…

by Roger Montgomery Posted in Global markets, Market commentary, Technology & Telecommunications.

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I joined Ausbiz to explore why private credit is attracting growing interest from investors. It can offer equity-like returns with far less volatility, while providing both diversification and  income. With stretched markets and retirees prioritising stability, private credit is fast emerging as a mainstream asset class in Australia. Continue…

by Roger Montgomery Posted in Aura Group, TV Appearances.

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