December 8, 2023

What can we expect from stocks and bonds in 2024?

By Roger Montgomery

Since late October, financial markets have witnessed a significant shift, adjusting to a softer labour market and persistent disinflation. As an aside, the latter – disinflation – was a condition we wrote about a year ago, suggesting it should support the share prices of innovative growth companies, especially those with pricing power.
December 4, 2023

Analysing Australia’s October CPI: Unexpected trends

By Brett Craig

The latest monthly consumer price index (CPI) read released last week, came in unexpectedly lower than anticipated, at 4. 9 per cent in the 12 months to October. This follows the previous read of 5. 6 per cent in September. With the 8.
December 1, 2023

Navigating success: Inside Seven Group Holdings

By Dominic Rose

In this week’s video insight, David Buckland and I discuss Seven Group Holdings (ASX: SVW), an Australian operating and investment group in the media, mining and construction industry in which the Montgomery Small Companies Fund holds a substantial stake. We spotlight the remarkable alignment between the Stokes family’s leadership and investors’ interests, emphasizing Seven Group’s astute counter-cyclical investment strategy. Additionally, we explore their recent strategic acquisition of Boral (ASX: BLD), shedding light on their concerted efforts to enhance operational efficiencies and bolster margins. Catch the full discussion here.

November 30, 2023

Temple & Webster’s share price soars following its AGM update

By Roger Montgomery

As we monitor the behavior of the Australian consumer, it’s crucial to acknowledge that consumption constitutes approximately 50 per cent of Australia’s GDP, significantly influencing decisions related to interest rates. The robust trading update presented during the annual general meeting (AGM) by Temple & Webster Group (ASX: TPW), an online retailer specialising in furniture and homewares, prompts thoughtful consideration.
November 29, 2023

Should we expect continued softness in retail sales?

By Roger Montgomery

Unsurprisingly, consumer spending dominates all other categories and contributors to economic growth in a consumption-based economy such as Australia’s. Australia’s private consumption accounted for 49. 8 per cent of nominal gross domestic product (GDP) in the June 2023 quarter.
November 28, 2023

Why I believe REA Group is one of Australia’s highest quality businesses

By Roger Montgomery

I believe REA Group (ASX:REA), is one of Australia’s highest-quality businesses. REA Group’s online portal – realestate. com. au – is the go-to destination for people wanting to buy, sell or rent property. Price rises in all property related areas have led to substantial revenue and earnings growth and have turbo-charged REA Group’s share price.
November 27, 2023

Insights from the Australian Securitisation Forum

By Brett Craig

Last week the team attended the Australian Securitisation Forum. The event is held annually and brings together the leading industry bodies, representing participants in the securitisation and covered bonds markets. We had the opportunity to hear from a wide range of market leaders and competition. Each provided valuable insights into their own current views and outlook on the market.
November 24, 2023

Is forecasting a waste of time?

By Roger Montgomery

I have had my fair share of bad calls. After more than three decades of investing, it’s safe for me to predict that there is next to no advantage in making predictions.
November 23, 2023

Forget inflation; wineway robbery might be here to stay

By Roger Montgomery

As a result of the corporatisation of restaurants, there’s a plethora of them. The emergence of the Restaurant Group – Merrivale, Bentley, and The Speakeasy Group are examples which offer a business solution to the cost of independence through bulk buying power (for food and fit-outs) and merged accounting and marketing functions.


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