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Home / Author: Roger Montgomery

Roger Montgomery

Have tech investors suckled for too long?

Central banks have created surplus capital looking for a home, and Tesla is a classic example of an unprofitable tech company that has benefited. It survives on a dream rather than the ability to make cars.

Blue skies for consumers, caution for investors

Markets and assets look expensive, but technology at least offers high revenue growth and fast rates of adoption. However, much of that great promise may benefit consumers more than investors.

Unwinding is warning of late stages of boom

Market fundamentals are pointing toward an era of high volatility and lower returns, which have not been factored into current prices. Better to wait till there is blood in the streets rather than be fully invested.

At the start of 2018, I began to question value investing …

In today’s investment markets, has value investing lost its relevance or did the recent market volatility provide a warning? Value investors need patience and a contrarian attitude, which tests the resolve in strong markets.

Final edition in Summer Series, Guest Editor, Roger Montgomery

It's pleasing to have been contributing to Cuffelinks since the start in 2013. Fundamentally sensible and technically useful articles again dominated in 2017, but five in particular stay in the memory due to their special insights.

Investors should avoid extrapolating recent success

Don't extrapolate success without anticipating new ideas and competition. When consolidation of media power, personal data, or capital is concentrated in a few companies, society repels and rejects.

Latest Updates

SMSF strategies

Meg on SMSFs: The CGT changes don’t impact super but what about Div 296 tax decisions?

New CGT rules could tip the scales in the super vs non-super debate. For those facing the Division 296 tax, the case for withdrawing has gotten more complex. A "comparison rate" tool may help assess decisions.

Planning

Testamentary trusts post-budget: Estate planning, tax reform and the ‘death tax’ debate

Proposed Budget changes to taxation are casting new uncertainty over testamentary trusts, prompting closer scrutiny of estate planning structures and the real implications of reforms still taking shape.

Taxation

Income tax and bracket creep

Examining how five "tax cuts" stack up against bracket creep. Why offsets and incremental changes may do little to ease rising average tax burdens, compared to structural reform through indexation over time.  

Exchange traded products

The limits of a quality investing approach in Australia

Quality strategies shine globally, but Australia's concentrated market tells a different story. Limited diversification and sector dominance can constrain the defensive outcomes investors have seen in broader markets.

Investment strategies

Balancing opportunity and complexity

As private markets expand, investors face a growing mix of structures, a stabilising private equity cycle and uneven AI disruption. Fresh questions are being raised about where the real opportunities now sit.

Investment strategies

Why strong returns matter as much as generosity

As EOFY approaches, structured giving offers a tax-effective way to support charities, while allowing donations to grow over time and play a longer-term role in family wealth and legacy planning outcomes.

Investment strategies

The most important investment decision you’ll ever make

Stock picking often gets the spotlight, but research shows asset allocation explains the vast majority of long‑term returns. Understanding your mix of growth and defensive assets is the real key to investment success.

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