Peter Lynch, the legendary investor, once quipped that it’s best to invest in businesses that any idiot could run, because sooner or later one will. This begs the question of what drives the economic returns of businesses: is it the competitive forces of that industry or the skill of management? It’s likely a combination of both.

When it comes to investing, it can often pay dividends to zag when everyone else is zigging.   And that’s equally so when it comes to interest rates. At a time when everyone is assuming that rates will go to zero – and possibly beyond – it may be worth stepping back and pondering… what if they don’t?

One of the better-known market anomalies is the momentum effect. This describes the tendency for stocks that have recently performed well to have a better-than-average chance of continuing to rise. Can investors can profit from the momentum effect by staying with a trend until it stops?

Andrew Macken joined Tom Piotrowski at CommSec on the Executive Series to discuss the outlook for global markets. With a wide range of possible outcomes for many global scenarios there are some key themes which you should be aware of. Watch here.

If you’re looking for growth, then a good place to find it is among the smaller companies universe. That’s why Montgomery has decided to launch a new small companies fund focused on businesses outside the ASX100. This article is designed to share some information for would-be investors.

Total Addressable Market (TAM) is a concept used by management and investors to define the maximum market opportunity that is available to a business or a company.

“Our favorite stock holding period is forever” Warren Buffett once mused. On the surface this might sound at odds with the adage of buy low and sell high, given the absence of any selling. It’s worth exploring what Buffett meant, and the circumstances in which it might make sense to follow this piece of advice.

The small-cap universe (outside the ASX100) is vast and varied, comprising around 2,000 companies operating across a broad array of industries and ranging in size from just a few million dollars in market value to multiple billions. How do we profit from companies as they grow?