What is Roger Montgomery’s intrinsic value for QR National?
In this appearance on the Sky Business Channel, Peter Switzer asked Roger Montgomery for his expert opinion on the upcoming float of QR National. QR’s ROE is around 5%, it plans to spend over $7 billion on infrastructure, dividends will be paid out of borrowings and given the track record of government floats in Australia, Roger Montgomery does not believe QR National will provide long term value for its shareholders. Roger tells viewers there are other more attractive businesses that have exposure to China. Which great Australian business does Roger award his A1 Montgomery Quality Rating? Watch the interview.
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.
