Amazon’s official launch is imminent. With the world’s biggest Ecommerce company potentially days away from taking market share, we asked a panel of Livewire contributors who is most likely to go bust, and what the key drivers of valuation have been. Performance is a combination of local factors and the Amazon-effect Shane... Show More
In the first edition of Livewire’s new podcast, The Rules of Investing, we take a deep dive into one of the most important concepts in investing, valuation. Our guest this week is Roger Montgomery, Founder and Chief Investment Officer of Montgomery Investment Management. Show More
We asked a panel of portfolio managers how they are thinking about investing in today's richly valued market. Specifically: what attributes they are seeking, and how they are avoiding biases. Steve Johnson offers some essential reading, Tim Kelley focuses on capital preservation, and Alex Pollak cites four key characteristics. Show More
Regular readers of Livewire will have been following our feature on ‘value investing’. What we’ve learned is that while labels may be dispensable, having robust and repeatable processes are essential disciplines for successful investing. Of the five fund managers we’ve approached in this series, each has had a defined set... Show More
If you able to find a stock in this market that appears cheap, perhaps the attractive valuation is due to market inefficiency, and you have unearthed genuine value … or perhaps there are negative fundamental factors or industry dynamics at play. A ‘value trap’ is when you believe the former,... Show More
The recent move by JB Hi-Fi to acquire The Good Guys has a lot of investors excited. Largely, it seems, because the tie-up will help consolidate the retailer’s pricing power in an already concentrated industry. But while we’re happy to shop there, we’re not yet convinced JBH meets our investment... Show More
Oh, yes, you gotta love asset bubbles. They produce quotes that, when told on the other side of the crash seem so ridiculous, that they are simply unbelievable. This week we have another set of entertaining quotes from the auction rooms, as a fresh wave of investors bids over the... Show More
In this thematic discussion our panel take a closer look at the recent bank reporting season. The outlook for ‘The Big Four’ has been a hotly debated topic with shareholders being asked to stump up billions of dollars to shore up balance sheets. From a valuation perspective share prices in... Show More
In this video Tim Kelley, Portfolio Manager at the Montgomery Fund explains the three things he looks for before investing in a business. Kelley also gives insight into what determines when he exits a business and some of the common traps investors fall into when assessing when to sell a... Show More