Investor Insights

We’ve known for some time that the sharp decline in building approvals would lead to an equally sharp decline in construction activity. It has been our view that because building approvals have already fallen from 280,000 dwellings to 170,000 dwellings, a consequent decline in building activity would start to be seen about now.

Uber says it is only in the early stages of capturing a $12 trillion total addressable market that includes personal mobility, food delivery, and freight shipping. So, if you believe its prospectus, the potential upside should be huge. But how realistic are its aspirations?

One company that recently caught our attention, that I believe is worth monitoring, is Avita Medical (ASX:AVH). AVH owns the patents and produces a medical device called RECELL, which produces a “suspension” of spray-on skin cells using a small sample of the patient’s own skin to help treat burn patients and skin defects.

Brambles is one of the companies that you’d think would tick quite a few of the quality criteria that we at Montgomery evaluate any potential investment on. Let’s have a look and see! Exclusive Content This is exclusive content to subscribers on rogermontgomery. com. View the full article via your subscription or sign up for access. Continue to RogerMontgomery.

Uber’s upcoming IPO promises to be monumental. The big question for would-be buyers is: will this loss-making juggernaut be a good investment?   Or, like its rival, Lyft, will its shares plummet after the float? Exclusive Content This is exclusive content to subscribers on rogermontgomery. com. View the full article via your subscription or sign up for access.

With Australian retail, housing and car sales in the doldrums, an election likely to cause business nervousness and lack of new investment, (which in turn keeps wage growth low), where can investors find opportunities? Exclusive Content This is exclusive content to subscribers on rogermontgomery. com. View the full article via your subscription or sign up for access.

We are often asked to explain how we manage the cash weighting, and the most recent market pullback at the end of 2018 provides a useful example to illustrate our approach to managing cash. Most readers will be familiar with the investment philosophy that drives The Montgomery Fund.

Over the past few weeks we have had the pleasure of meeting with clients and friends of the firm around Australia and New Zealand. The turbulent and challenging final quarter of last year was of great interest to many, despite, or perhaps because, of the quick rebound in stock markets in the first couple months of this year.

On Wednesday, New Zealand online goods trading and classifieds platform TradeMe will hold an extraordinary general meeting so that shareholders can vote on the proposed acquisition of the company by one of the private equity funds of Apax Partners for NZ$6. 45 per share.

We have recently been asked about the Australian currency from several of our investors, and while it’s impossible to predict the future, do we foresee continued pressure on the Aussie dollar against the US dollar over the next 6 – 12 months?

We received the following feedback from an investor this week: It’s a mystery to me how MOGL is priced, the dynamics on the share price seem to defy the market. So we thought we would give you some more information on this.

  In this week’s video insight Tim takes a look at Telstra’s half-year results. Revenue, earnings and cash flow all broadly lined up with expectations so there weren’t many surprises. Although since we last looked at Telstra there have been some interesting developments. The Montgomery Funds own shares in Telstra.