Investor Insights

Archive: February, 2023

February 13, 2023

Aura Private Credit: Letter to investors 13 February 2023

By Brett Craig

Last week, the Reserve Bank of Australia (RBA) lifted interest rates off the back of the heightened inflation data that came in for the December 2022 quarter. The RBA decided to lift the cash rate by 25 basis points, bringing it to 3.35 per cent.

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February 13, 2023

Why paying down your mortgage could be your best investment

By Roger Montgomery

With interest rates rising, many of you are probably wondering if it would be beneficial to pay more off your mortgage. The good news is that if you have sufficient funds, and you are in a high personal tax bracket, it could be your best investment right now. Let me explain why.
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February 10, 2023

Nick Scali is the latest retailer hit by the consumer pull-back

By Roger Montgomery

On first blush, the much-anticipated consumer slowdown does not appear to have impacted Nick Scali (ASX:NCK), which reported half-year 2023 results earlier this week. But delving more deeply into the trading update reveals a different story. Nick Scali’s 1H23 sales revenue of $283. 9 million was up 57. 4 per cent on H1 FY22.
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February 9, 2023

Has Carsales paid too much to buy Trader Interactive?

By Roger Montgomery

Since its founding in Melbourne in 1997, carsales. com (ASX: CAR) has grown its footprint to now operate in digital marketplaces across Oceania, Asia and the Americas. This has largely been done via acquisitions. However, I’m scratching my head over its recent acquisition of the US marketplace, Trader Interactive. To my mind, they have simply paid too much.
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February 7, 2023

RBA raises interest rates again, to a 10-year high

By David Buckland

All English-speaking Central Banks seem committed to higher official cash rates. This interest rate tightening cycle began in New Zealand on 6 October 2021, and six months later Australia was the last to blink, on 6 April 2022. On average, the five Central Banks in the table below have increased their official cash rates on nine separate occasions.
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February 7, 2023

Why I steer clear of whisky – and distillers

By Roger Montgomery

Just how do you value a company like Lark Distilling (ASX:LRK), whose main asset (award-winning Tasmanian whisky) is locked up for years, but increases in value as it matures. The answer: it’s hard. Alcohol. While for many it’s a source of great pleasure, for others it’s a quandary.
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February 6, 2023

Aura Private Credit: Letter to investors 06 February 2023

By Brett Craig

Authorised Deposit-taking Institutions have been looking into how to incorporate the same underwriting technology that many fintech/non-bank lenders already have for some time now, with the intention of utilising the technology on unsecured SME credit.

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February 6, 2023

Why I’m cautiously optimistic about 2023

By Roger Montgomery

A number of commentators are calling the current rebound in global markets a ‘dead cat bounce’. Veteran fund manager, and famous ‘perma-bear’, Jeremy Grantham, has even warned that stocks could plunge a ‘stomach-churning 50 per cent’ from here. But I’m not so sure. I think there are plenty of reasons to be cautiously optimistic about the year ahead.
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February 2, 2023

Montgomery Investment Management offers a long-short strategy with impressive capital growth and outperformance over six years

By Roger Montgomery

Montgomery Investment Management (Montgomery), through its partnership with Australian Eagle, is pleased to announce retail investors can now access the Australian Eagle Trust, Long Short Fund. The Australian Eagle Trust, Long Short Fund (The Fund) is an open-ended, Australian-registered managed investment scheme with a minimum investment of $20,000.
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February 2, 2023

Wonderful companies at wonderful prices?

By Polen Capital

“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. ”1 This well-worn adage from Warren Buffett has guided our investment approach for over thirty years and is the title of a piece we published in 2018. 2 Given recent market conditions, we’ve chosen to revisit this concept.
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