Investor Insights

February 4, 2020

It’s time to focus on quality global businesses

By Roger Montgomery

Rallying markets have raised the valuations of many businesses, possibly to unsustainable levels. To my mind, it’s made one thing clearer than ever: investors need to bulk up on high quality Australian and global businesses, like CSL, Microsoft and Vivendi. I recently talked about the gravitational force exerted on asset prices and values by interest rates.
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February 3, 2020

What’s behind the weak performance of quantitative investing?

Equity markets have been very kind to investors in recent years, with stock indices setting new records in Australia and overseas. Notwithstanding some episodes of turbulence along the way, these good results continue a decade-long run of mainly positive returns following the depths of the GFC in early 2009.
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January 17, 2020

Montaka’s fourth quarter update

  In this video Andrew shares a summary of Montaka’s Q4 2019 letter to investors. Discussing the view that the world is favourable for equities at the moment with monetary policies highly accommodative around the world. Andrew also shares a holding in the portfolio – Floor & Decor.
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January 13, 2020

What should we expect from the big four banks in 2020?

  In this week’s video insight Stuart reviews the banks performance in 2019. The banks have endured a turbulent few of years and 2019 was no different, generating a total return of 9. 5 per cent for the calendar year, less than half that of the broader market return of 23. 8 per cent.
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December 18, 2019

Infrastructure assets for the digital economy – Data Centres

By Gary Rollo

  Technology was once a major competitive advantage for large companies, today that’s no longer the case, smaller companies can now compete on a level technology playing field thanks to Cloud Computing and the Digital Economy.   It’s why we believe that small companies represent an attractive area for investing.
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December 16, 2019

2019 – the year in review

With the year coming to a close, I thought it would be interesting to look at 2019 in terms of some of the movements we saw in the ASX300 and its constituents.
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December 12, 2019

IMDEX a true innovator – how is technology leading growth?

By Gary Rollo

  IMDEX Limited (ASX:IMD) is a mining services company with solid leverage to gold exploration and development activity. The key attraction for us is the strong IP within the business. Incoming Chief Executive Officer, Paul House shares the exciting pipeline of new technologies.
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December 11, 2019

Medibank ‘insuring’ growth

By Roger Montgomery

Medibank Private (ASX:MPL) is a long term holding in The Montgomery Fund and The Montgomery [Private] Fund with our investment case being partly based on superior investment in productivity, thanks to scale, that delivers both a functionality and cost advantage over its competitors.
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December 10, 2019

A step change for Adairs

By Dominic Rose

As small cap investors, we are constantly seeking money-making opportunities arising from change events. We look for the emergence of specific structural or cyclical factors which have the potential to open up new markets, drive earnings higher or alter market perceptions about business quality or valuation.
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December 9, 2019

Uniti Continues to Unify at an Electrifying Pace (Part 2)

By David Buckland

Adelaide-based telecommunications company Uniti Wireless (ASX: UWL) is continuing its spending spree with additional acquisitions that has seen the market capitalisation grow from $33 million to the current $555 million. A staggering increase of $522 million in just nine-months! In my last blog, I wrote “Forecast Revenue and EBITDA for Fiscal 2020 is $57. 3 million and $16.
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December 3, 2019

Is PointsBet Holdings worth a bet?

By Gary Rollo

Finding growth businesses with a long runway of opportunity, that can also grow independent of the economic cycle, can feel a bit like looking for a needle in a haystack. But we think PointsBet Holdings (ASX:PBH) is one of those businesses. PointsBet Holdings is at the ground floor of the commercialisation of legal online sports betting in the US.
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December 2, 2019

Data centre growth to benefit NextDC

By Roger Montgomery

  In this week’s video insight Roger discusses why we view NextDC as a long-term infrastructure play that investors should be viewing with a telescope rather than a microscope to understand the opportunity. You can read Gary Rollo’s article here: Why I think NextDC is undervalued The Montgomery Small Companies Fund  owns shares in NextDC.
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