The Bull’s stock pick of the week
Shareholders of McMillan Shakespeare,Australia’s biggest provider of salary packaging, continue to sing “Let the good times roll.” But not everyone is thrilled with McMillan Shakespeare’s current market valuation, including well know Australian Fund Manager and Author, Roer Montgomery. Roger first penned his concerns about MMS at his blog back in August 2010. MMS is now above $7.00 compared to Roger’s Value.able intrinsic value of $2.64, there is also the problem of increased debt following MMS’ acquisition of Interleasing. Read article.
Well-known Australian commentator, Roger Montgomery penned his concerns about MMS in his blog back in August. Being a value investor it is easy to see why he is less enthusiastic with MMS above $7.00, than $2.64, when he first wrote his opinion on McMillan Shakespeare. Montgomery was also unhappy with debt levels that MMS took on after its acquisition of Interleasing.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
