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Home / Author: Roger Montgomery

Roger Montgomery

Fear of missing out trumping fear of loss

Argentina's economic history shows there's no room for complacency, as the markets often lose their ability to judge risks in the wild search for performance.

To zig or to zag?

At any point in the cycle, the portfolios of either the optimists or the pessimists perform better. Despite stretched valuations and rising rates, the optimists are winning at the moment.

The energy disruptions with forever impacts

The consequences of renewable energy disruption will be strongly felt by the Australian sharemarket with the falling contribution from existing energy and resource companies.

High or low price, future returns will be low

Despite most Australian shares trading above intrinsic value, investors’ risk perceptions are lower than they should be. Without profit growth, equity returns will be low, especially if the entry share price is elevated.

Seismic change and investing in barbells

The stock market is increasingly looking like a 'barbell' of company returns with a few big winners and lots of losers, especially in retailing where new competition led by Amazon is nothing less than a seismic change.

Index funds lack checks on stocks they buy

The economics of Australia’s biggest listed companies will not turn significantly more positive in the next 10 years. Don’t expect the large cap-weighted indices to produce returns any better.

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