Investor Insights

NEW INVESTORS TAKE NOTE: IT MAY BE TIME TO TAKE YOUR PROFITS

It is important to ask yourself, are you an investor or are you a trader? Typically traders work with far shorter timeframes and are active with their positions. Since the March market rout many share market investors have enjoyed strong gains. There is a genuine risk that lower share prices will decimate inexperienced share speculators, so should you be taking profits off the table now?

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Popular & Featured

June 25, 2020

Nick Scali reports strong sales in May and June

By Roger Montgomery

As you may know, the furniture retailer, Nick Scali, is one of our holdings in the Montgomery Small Companies Fund and CEO Anthony Scali has just updated fund managers through a broker-arranged conference call.
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June 22, 2020

Why it’s so hard to pick the market direction right now

By Roger Montgomery

In a recent interview, Peter Switzer asked me if I was a bull or a bear. It’s a simple question, but one that requires a nuanced response. Because these are complex and unprecedented times for investors. Had Peter asked me that question prior to February, I would have said a bear.
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June 19, 2020

A recap of the bids made for Infigen Energy

By Gary Rollo

Our readers know we like the Infigen Energy (ASX:IFN) equity story; IFN is a renewable electricity generator and it offers a way to play the green theme here in Australia. We shared our investment thesis in an article posted in early February, a lot has happened since then. Here’s why we have sold and moved on.
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June 17, 2020

Here’s a story worth telling

By Scott Phillips

There is a popular aphorism in investing circles that originally came from Winston Churchill; “never let a good crisis go to waste.
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Learn About Investing

In this section we explore investing basics, common themes and information to help guide your investing journey. 

The information provided is general information only. The information does not take into account your investment objectives, financial situation or particular needs. You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided in this document and consider seeking advice from a financial adviser if necessary.
June 22, 2020

Limits on growth

By George Hadjia

Value investing involves buying something for less than it is worth. In concept this is simple, but in practice it involves the more challenging task of estimating the future growth of cashflows over coming decades. There are certain types of businesses that have characteristics that allow for multiple S-curve growth patterns.
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May 21, 2020

Where models fail

By George Hadjia

At Montaka we consider ourselves value investors. That is, we aim to buy a dollar of value for less than it is worth. Inherent in this approach is estimating the intrinsic value of an investment, and we use financial models to achieve this.
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Latest Insights

July 1, 2020

Farewell fiscal 2020, hello fiscal 2021

By David Buckland

Twelve months back, who could have predicted the world would be in the state it’s currently in?  And yet, despite the pandemic-induced turmoil, some world markets are not that far from where they were a year ago.   Here’s a quick look at the year that was. The US Nasdaq Index continued to deliver a pull-up effect, appreciating 12.
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June 29, 2020

New investors take note: it may be time to take your profits

By Roger Montgomery

One of the rather surprising trends since the COVID-19 lockdown has been the new wave of first-time share market investors. Many have enjoyed huge gains since the March market rout – often by speculating on highly risky businesses. But the ensuing dislocation between share prices and economic reality tells me that some could get their fingers badly burnt.
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June 25, 2020

Nick Scali reports strong sales in May and June

By Roger Montgomery

As you may know, the furniture retailer, Nick Scali, is one of our holdings in the Montgomery Small Companies Fund and CEO Anthony Scali has just updated fund managers through a broker-arranged conference call.
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June 24, 2020

Codan goes from strength to strength

By Andreas Lundberg

If you’re a regular reader, you probably know that one of my favourite Australian companies is Codan Limited (ASX: CDA), which makes communications, metal detection, and mining technology. Its share price has doubled in the past year, and its latest trading update gives me more reasons to be pleased we hold it in our funds.
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Media Clips

June 26, 2020

Small businesses say JobKeeper works, but will its end be a sucker punch?

By Roger Montgomery

Nick Sundich published an article in Stockhead which discusses the assistance Jobkeeper is having on Australian companies.  Eighty-four per cent of small business owners reported the scheme allowed them to stay afloat. Nick comments on Roger’s concern that households and businesses will not be able to start paying their debt once the stimulus packages go away. Read here.
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June 24, 2020

Stocking up is not a sign of optimism

By Roger Montgomery

In this article for the Herald Sun Roger discusses the current market status. Whether the current economic disaster can be repaired through the printing of money remains a multitrillion-dollar question. The same goes for whether it leads to inflation, or possibly hyperinflation after excess productive capacity is soaked up.
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June 24, 2020

Is it about time we stopped paying tax?

By Andrew Macken

In this article for the Herald Sun Andrew questions why we pay taxes. If the Fed can simply buy an infinite amount of government debt, then it must be true that the government can issue an infinite amount of debt. And if this is true, then government spending will be financed by the central bank.
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THINK FOR YOURSELF.
WE DO.

At Montgomery, we’re independent thinkers who look past market noise to focus on the long-term prospects for companies. We don’t follow the herd. Subscribe now to receive our articles, whitepapers and insights.

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Our Funds

Concentrated High Conviction Equities

Listed

Montgomery Global Equities Fund (ASX:MOGL)

Global
Available on the ASX as an Exchange Traded Managed Fund, invests in 15 to 30 quality global businesses for long-term capital growth with a target distribution yield of 4.5% per annum. Mirrors the strategy of the Montgomery Global Fund.
Unlisted From $25,000

Montgomery Global Fund

Global
Invests in 15 to 30 quality global businesses for long-term capital growth. Priced daily. Mirrors the strategy of the Montgomery Global Equities Fund (ASX:MOGL).
Unlisted from $25,000

The Montgomery Fund

Australia/NZ
Aims to provide long-term growth and income by investing in 20 to 40 high-quality Australian and New Zealand businesses trading at attractive valuations. Priced daily.
New Fund

Montgomery Small Companies Fund

Australia/NZ
Aims to provide long-term growth by investing in 30 to 50 high quality, undervalued, Australian and NZ small and emerging companies with strong growth potential. Priced daily.
Unlisted from $1 Million

The Montgomery [Private] Fund

Australia/NZ
Seeks to deliver absolute returns from a portfolio of high-quality Australian and New Zealand businesses. Capital preservation is paramount. By invitation only.

Alternate Equity Strategies

Unlisted from $50,000

Montaka Global Access Fund

Global
Aims to generate materially higher risk-adjusted returns, net of fees, than is generally available in the equities market over the medium term. Priced monthly. Provides retail investors access to the Montaka Global Fund.
Unlisted from $1million

Montaka Global 130/30 Fund

Global
Provides the opportunity to benefit from both the gains of extraordinary businesses and the declines of deteriorating businesses through a global equity active extension strategy, which has the potential to significantly outperform the broader equities market over time. Seeks to generate double-digit annual average returns, net of fees. Daily priced.
Unlisted From $1 Million

Montaka Global Fund

Global
Aims to generate materially higher risk-adjusted returns, net of fees, than is generally available in the equities market over the medium term. By invitation only.