value investing

Join Nathan Bell, Head of Research, and Alex Haynes, Head of Distribution, as they explore the huge rewards and pitfalls of investing in IPOs and spinoffs. Show More

The market moves in cycles which are often extreme. We are currently experiencing a market which appears almost exclusively focused upon momentum rather than value, quality or traditional fundamentals. Should investors give up on fundamental value investing strategies and follow the markets’ momentum focused lead? Or is it time to... Show More

With the bull market entering its tenth year and interest rates increasing, what’s worked so well since the GFC, including buying high growth stocks, defensive businesses and high yielding stocks, is unlikely to work well through the cycle’s next phase. Show More

In the past companies used to buy a database, install it on their hardware, and deploy it locally. But what we've seen over the last few years is the rise of cloud computing, a significant evolution in the way in which we save, store and access data, and that has... Show More

The following is an extract from a note that was recently sent to investors in the Montaka Global Fund. The second best book that I read in 2017 was Professor Andrew Lo’s Adaptive Markets: Financial Evolution at the Speed of Thought. Show More

JD.com (JD) is often referred to as China’s Amazon. However, JD is online retail shopping with a difference. Firstly, buying behaviour and the online shopping experience in China is quite different to Australia and the United States. Online shoppers in Australia typically buy discretionary items such as books, shoes and... Show More

In the second episode of Peters MacGregor Global Investing Podcast, join Wayne Peters, Chief Investment Officer, and Alex Haynes, Head of Distribution, as they turn their attention to Chinese technology giants Baidu, Tencent and JD.com to discuss the markets they operate in and how these businesses stack up against US... Show More

A very ‘Xīnnián hǎo’ to you, as this month’s Chinese new year zodiac moves from the Rooster to the Year of the Dog. The 12-year repeating nature of Chinese astrology interests us here on The Value Perspective, as this is just the sort of time horizon that should be in... Show More

2017 saw a combination of solid economic growth without a significant pick-up in inflation. This let the Fed continue to raise rates, but at a measured pace, and it has flagged it’s likely to raise rates another three times this year. Other major central banks did not follow this path... Show More

In the first episode of the Peters MacGregor Global Investing Podcast, Head of Research, Nathan Bell, and Senior Investment Analyst, Trevor Scott discuss recent market volatility and building a portfolio of high quality companies, such as NVR and Amazon, that will deliver value over the long-term regardless of short-term market... Show More

Many textbooks and articles tell you how successful fund managers go about analysing companies when they invest. However, what they don’t tend to disclose is that a lot of investment success is also a result of never doing certain things. Show More

At a time when so many investors are focused on technology and growth, it is understandable why the market is less interested in a seemingly old-economy company like Joyce Corporation Limited (ASX:JYC). Joyce’s origins go back over 130 years, and at one point was Australia’s largest foam and furniture manufacturer,... Show More

Whether you have Foxtel or not, you’re bound to be familiar with some of Discovery Communications’ most popular TV shows, such as MythBusters, Bear Grylls’s Man v Wild, Deadliest Catch and Shark Week. Ok, maybe not, but these non-scripted reality TV shows, which are cheap to make, have long been... Show More

Marc Andreessen, founder of famed venture capital firm Andreessen Horowitz and co-author of the world’s first widely used web browser, believes there are “only two ways to make money in business: One is to bundle; the other is unbundle.” Show More

Lately, we are hearing many investors lament that it’s getting hard to find value in our market. Well, there are still pockets of value. And TradeMe (ASX:TME), New Zealand’s largest online auction and classifieds website, could be one of them. Show More

In this short video I discuss Montgomery Global’s four-step investing process by reviewing a core holding in our global portfolios. If you are interested in the four-steps, watch the short video here. Show More

We were recently asked what we see in Jupiter Fund Management (LSE: JUP), a UK-based business owned in the Montgomery global portfolios. Without giving away our entire analysis, the following note seeks to lay out, in simple terms, why we believe this is a high quality global business that is... Show More

They say the house always wins, but with both Crown and Star Entertainment to choose from, which house is the better one to bet on? Crown’s flagship casino in Melbourne is the biggest in the country, but can it shake off all the bad press? Star has had a good... Show More

Many would agree that the execution of a patiently prepared home-cooked meal with carefully selected ingredients is a rewarding endeavor. Pre-packaged takeaway is convenient, but is undesirable for many reasons, beyond any immediate satisfaction. Show More

Whether it is companies that have experienced share price declines due to regulatory uncertainty, or industries that are generally out of favour, our best returns have historically come from recognising opportunities where others have decided that the issues are simply “too hard”. One sector that currently ticks all the (wrong)... Show More