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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.

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Retirement

How inflation is quietly moving the goalposts on retirement

Inflation doesn’t just raise today’s bills - it quietly increases the amount needed to retire, while simultaneously making it harder to save. Three steps to take before June 30th to improve retirement outcomes.

Investment strategies

Three strategies for investing amid AI whiplash

AI fears have shifted from bubble talk to disruption anxiety, driving investors toward asset‑heavy, 'AI‑resistant' businesses while punishing many software and service firms. This environment may be ripe for stock pickers.

Investment strategies

Are private market assets the answer in an unstable world?

Private markets can offer diversification and return potential, but their opacity, scale and wide dispersion of outcomes make manager selection and due diligence critical for non‑institutional investors.

Property

Mispriced in plain sight: The case for Global REITs

Global REITs have fallen out of favour, trading at deep discounts after years of underperformance, despite resilient earnings and improving fundamentals.

Investment strategies

Survival is the only success

True financial success isn’t about how much you make, but whether you can sustain it — survival is the only win that matters.

Investment strategies

$42 billion too late

Why Australia's biggest energy bet may already be redundant while a less celebrated government program is exceeding expectations. 

Investment strategies

Do investors accept lower returns from assets that make them feel good?

Assets that deliver emotional satisfaction tend to offer lower financial returns, as investors accept an “emotional yield” in place of performance which shapes how investors approach ESG and unpopular assets.

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