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Will the negative financial headlines lead the Aussie consumer?


Will the negative financial headlines lead the Aussie consumer?

In this week’s video insight David discusses the impact of all the recent negative financial headlines. Are they a reaction to the 5-7 per cent decline recorded by many stocks in October or the fact that the Australian housing market has entered first bear market in years?


Chief Executive Officer of Montgomery Investment Management, David has over 30 years of industry experience. David is a deeply knowledgeable and highly experienced financial services executive. Prior to joining Montgomery in 2012, David was CEO and Executive Director of Hunter Hall for 11 years, as well as a Director at JP Morgan in Sydney and London for eight years.

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.

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  1. While the ASX is down the AUD is holding up. Are you still bearish on the AUD? Given the decline in the ASX are you close to deploying some of the cash? Andrew seemed to indicate that Montaka took the Oct decline to add to long positions in the global portfolio.
    We have just had another stellar jobs report out today. Always puzzles me. I am beginning to think the Oz economy will tick along just fine regardless of the housing decline until something happens in the global economy, namely China.

    • Hi Peter, assuming the US Federal Reserve continues its tightening cycle, then we feel the A$, on the balance of probability, has further downside. The suspect the secondary effects from a weak housing market will be tested in 2019. We have also used recent market weakness to reduce our cash holding by a few percent in The Montgomery Fund.

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