Investor Insights

October 16, 2020

Flying high – a remarkable track record

By Gary Rollo

Back in 2002 Alliance Aviation Services (ASX:AQZ) commenced flying with just two aircraft. Today, the operating aircraft fleet size has grown to 43, with a further 14 new aircraft set to arrive in the next 12 months. AQZ’s business is literally flying! The company operates fly-in fly-out charter services for Australian mining companies and a range of ancillary aviation services, and has a strong track record of consistent profits and growth.

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October 13, 2020

Why yield investors should take a look at Centuria

If you’re looking for a robust income stock, Centuria Capital Group (ASX:CNI) is worth considering. Centuria owns a suite of assets focused on property and investment bonds, and pays an annual yield of around 4. 3 per cent. Making this business even more appealing, is a share price that keeps heading in the right direction.
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October 12, 2020

Dissecting the hype around US sports betting

Plenty of noise has been generated in the US online sports betting space this year. DraftKings stock has grown +400 per cent year-to-date, Penn National +170 per cent and Australia’s Pointsbet +150 per cent. The excitement is around an expected $20-30 billion addressable market, growing from around $1 billion in 2019.
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October 9, 2020

Our thoughts on the Ant Group IPO – Part I

Chinese payments and fintech giant Ant Group is expected to IPO in October at a valuation exceeding US$200 billion. Being investors in Alibaba Group, which owns 33 per cent of Ant, it was imperative for us to form a view on the Ant business.
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October 8, 2020

The $18.0 billion Merger of two Aussie Gold Miners

By David Buckland

In November 2019, Saracen Mineral Holdings (ASX: SAR) acquired 50 per cent of the Fimiston Open Pit, known colloquially as the Kalgoorlie Super Pit, from Barrick Resources for US$800 million. A month later Northern Star Resources (ASX: NST) bought Newmont’s 50 per cent stake for US$750 million.
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October 8, 2020

How much higher can Buy-Now-Pay-Later stocks go?

By Roger Montgomery

As you’ve no doubt noticed, Buy-Now-Pay-Later (BNPL) providers, like Afterpay and Zip, are all the rage. But do their soaring share prices reflect their real value and future earning power? Or are we just witnessing the latest incarnation of tulip mania? I sometimes wonder how we will look back on the rise of profitless growth stocks.
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October 6, 2020

An exciting growth stock: Macquarie Telecom

By Roger Montgomery

  In this week’s video insight Roger discusses cloud computing and a small cap opportunity in the space. We currently believe companies within this sector will see a long runway for growth. One company delivering the framework on which this innovation cycle is being built is Macquarie Telecom. The Montgomery Small Companies Fund  owns shares in Macquarie Telecom.
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September 29, 2020

What was the point of the Banking Royal Commission?

Just last week, the Federal Government decided to loosen lending requirements for Australian banks – a move that’s completely at odds with the recommendations of the Commissioner, Kenneth Haynes.   Sure, investors seemed to like the decision, pushing bank stocks higher. But will this all end badly, once again?
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September 28, 2020

One company to benefit from a vaccine and reopening

By Roger Montgomery

  In this week’s video insight Roger discusses how to position for the possibility of a vaccine and reopening. When the global economy reopens further, there will likely be many more sectors returning to growth. We are looking for companies that are winners in sectors that have had their outlooks impacted.
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September 28, 2020

The growth v value conundrum

By David Buckland

Since the market bottom of the Global Financial Crisis in March 2009, the Russell 1000 Growth Index (R1G) has outperformed the Russell 1000 Value Index (R1V) by over 300 per cent cumulatively.
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September 24, 2020

Lockdown, reopen, lockdown, reopen, repeat

By Roger Montgomery

Globally, investors have hitherto been blissfully optimistic about the end of hard lockdowns, the development of a potential vaccine and broad economic re-openings. But all that may be about to change. The share price of cruise line operators such as Carnival Cruises is perhaps one of the better indicators of how realistic such optimistic sentiment is. Figure 1.
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