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Home / Author: Roger Montgomery

Roger Montgomery

After 30 years of investing, I prefer to skip this party

Eventually, prices become so extreme they bear no relationship to reality, and a bubble forms. I believe we are there today, not for all stocks but for many in the technology space.

Roger Montgomery
29 July 2020
18

What will stop the market returning to its highs?

Despite signs of optimism, market valuations are stretched and recovery is fuelled by government support. Some companies are doing well but stimulus cannot continue to prop up consumers for too long.

Roger Montgomery
27 May 2020
20

Coronavirus and a roadmap for infected investing

As much as value investors with spare cash want to jump on undervalued companies, it's probably not the time to buy the dip in the market just yet as the US braces for coronavirus's full impact.

Roger Montgomery
11 March 2020
12

Sweet spot helping bull market rampage

The strong market has challenged value investors who want to buy at lower prices, but there are signs 2020 will continue a 'sweet spot' of profit growth, low inflation and central bank liquidity support.

Roger Montgomery
15 January 2020
6

A simple method to help mitigate sequencing risks

A shock to a portfolio at the wrong time can compromise a retirement plan where cash must be withdrawn each year. There are funds which attempt to trade some of the upside to reduce the downside.

Roger Montgomery
18 December 2019
6

Bulls, bonds and brain damage

Markets are overlooking the obvious risks as traders pass the parcel to the next buyer. Even central bankers believe: “There is something vaguely troubling when the unthinkable becomes routine.”

Roger Montgomery
9 October 2019
11

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Weekly Editorial

Welcome to Firstlinks Edition 376

The US tech index, the NASDAQ, peaked on 2 September 2020 at 12,058 and three weeks later closed at 10,632. On the same days, Apple hit US$137.98 and then fell to US$107.12. These falls of over 10% and 20% seem high but both were simply returning to their early August levels. It's hardly a rout when a month's gains are given back. The bigger issue is whether such stock corrections will scare off the retail 'Robinhood' traders.

24 September 2020
2

Interviews

Interview on new technologies with more potential to grow

For many global tech companies, COVID has boosted their revenues and pushed share prices to all-time highs. We are on the cusp of amazing technical advances and there are plenty of new opportunities.

Graham Hand
23 September 2020
3

Five reasons why Tesla is the everything bubble

As fewer professionals actively research the merits of a company’s prospects, stocks become disproportionately driven by capital flows. Prices disconnect from fundamentals and there's no better example than Tesla.

Vikram Mansharamani
23 September 2020
3

Retirement

Three retirement checks for when you have enough

Not every retiree needs to gun for higher returns, but a conservative portfolio can court its own risks, especially with bond rates so low. But some retirees prefer to settle for a lower income.

Christine Benz
23 September 2020
9

Hide and seek: the FX impact on global equity investments

As more Australians tilt their investments to global equities, they often overlook the exchange rate risk and fees. The move from US57 cents to US73 cents in six months shows the unhedged impact.

Adrian Fyffe
23 September 2020
4

Economy

When America sneezes, the world catches a ...

The recovery from COVID-19 is looking more like a K-shape, with some companies doing well while others struggle. The pandemic seems more akin to a black swan, exogenous shock than a structural downturn.

Kristiaan Rehder
23 September 2020
1

Retirement

How the age pension helps retirees cope with losses

It's often overlooked how wealthier couples can fall back on the age pension if a market loss hits their portfolio. The reassurance is never greater than in a financial (and now epidemic) crisis.

Wade Matterson
23 September 2020
3

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