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	<title>Value investing, stock market advice and online trading blog - Roger Montgomery Insights blog</title>
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	<link>http://blog.rogermontgomery.com</link>
	<description>Value investing, stock market advice and online trading blog - Roger Montgomery Insights</description>
	<lastBuildDate>Mon, 20 Feb 2012 19:38:40 +0000</lastBuildDate>
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			<item>
		<title>Guest Post:  Thoughts on fast maturity</title>
		<link>http://blog.rogermontgomery.com/guest-post-thoughts-on-fast-maturity/</link>
		<comments>http://blog.rogermontgomery.com/guest-post-thoughts-on-fast-maturity/#comments</comments>
		<pubDate>Mon, 20 Feb 2012 19:38:40 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2267</guid>
		<description><![CDATA[Investor Point:  Andrew observes that companies in fast changing industries are prone to misguided adventures with shareholders funds after they mature (which they do very quickly in a country with a population of a mere 23 million).
(if you&#8217;d like to contribute a post send it to roger@rogermontgomery.com with the word CONTRIBUTION in the subject line)
The [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/guest-post-thoughts-on-fast-maturity/feed/</wfw:commentRss>
		<slash:comments>9</slash:comments>
		</item>
		<item>
		<title>Vale</title>
		<link>http://blog.rogermontgomery.com/vale/</link>
		<comments>http://blog.rogermontgomery.com/vale/#comments</comments>
		<pubDate>Mon, 20 Feb 2012 12:44:35 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2260</guid>
		<description><![CDATA[Bloomberg:
  
&#8220;Walter Schloss, the money manager who earned accolades from Warren Buffett for the steady returns he achieved by applying lessons learned directly from the father of value investing, Benjamin Graham, has died. He was 95.

He died yesterday at his home in Manhattan, according to his son, Edwin. The cause was leukemia.

From 1955 to [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/vale/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Is your portfolio filled with quality and margins of safety?</title>
		<link>http://blog.rogermontgomery.com/is-your-portfolio-filled-with-quality-and-margins-of-safety/</link>
		<comments>http://blog.rogermontgomery.com/is-your-portfolio-filled-with-quality-and-margins-of-safety/#comments</comments>
		<pubDate>Mon, 20 Feb 2012 12:25:45 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2257</guid>
		<description><![CDATA[Click on the image at left to see a close up of the stocks we like.
I reckon 2012 will be the year to get set and fill your portfolio with high quality businesses, demonstrating bright prospects for intrinsic value growth and a margin of safety.  That will be the topic of my talk today [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-your-portfolio-filled-with-quality-and-margins-of-safety/feed/</wfw:commentRss>
		<slash:comments>13</slash:comments>
		</item>
		<item>
		<title>Confusion and misinformation&#8230;</title>
		<link>http://blog.rogermontgomery.com/confusion-and-misinformation/</link>
		<comments>http://blog.rogermontgomery.com/confusion-and-misinformation/#comments</comments>
		<pubDate>Thu, 16 Feb 2012 15:22:32 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Airlines]]></category>
		<category><![CDATA[Financials]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Resources]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Skaffold]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2252</guid>
		<description><![CDATA[I was surprised to read mainstream financial commentary today, suggesting today&#8217;s sell off reflected a &#8220;shrugging off&#8221; of a &#8220;solid&#8221; domestic labour report, and that instead, the market focused on disappointing earnings reports from large cap domestic companies and growing fears Greece is moving closer to default.  Putting aside the fact you&#8217;d go nuts trying [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/confusion-and-misinformation/feed/</wfw:commentRss>
		<slash:comments>26</slash:comments>
		</item>
		<item>
		<title>Gold v Stocks; Who will win?</title>
		<link>http://blog.rogermontgomery.com/gold-v-stocks-who-will-win/</link>
		<comments>http://blog.rogermontgomery.com/gold-v-stocks-who-will-win/#comments</comments>
		<pubDate>Tue, 14 Feb 2012 07:20:05 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Skaffold]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2246</guid>
		<description><![CDATA[On one side of the investing coin is the idea that you lay out money today to get more back later.  The flipside is that buy purchasing today you forego consumption today for the ability to consume more later.
They aren’t quite the same thing of course, because the latter idea introduces inflation and suggests [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/gold-v-stocks-who-will-win/feed/</wfw:commentRss>
		<slash:comments>37</slash:comments>
		</item>
		<item>
		<title>Is China exporting inflation now?  Did the RBA know? What&#8217;s going on at RIO?</title>
		<link>http://blog.rogermontgomery.com/is-china-exporting-inflation-now-did-the-rba-know-whats-going-on-at-rio/</link>
		<comments>http://blog.rogermontgomery.com/is-china-exporting-inflation-now-did-the-rba-know-whats-going-on-at-rio/#comments</comments>
		<pubDate>Fri, 10 Feb 2012 15:22:29 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Manufacturing]]></category>
		<category><![CDATA[Resources]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2242</guid>
		<description><![CDATA[Following on from our comment yesterday about BHP and comments in the media explaining why we weren&#8217;t buyers of BHP or RIO (falling Iron Ore prices and a contracted customer (28% of RIO&#8217;s revenue last year) who won&#8217;t honor contracts), we are interested in the flow of information through the week.
First the RBA held off [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-china-exporting-inflation-now-did-the-rba-know-whats-going-on-at-rio/feed/</wfw:commentRss>
		<slash:comments>14</slash:comments>
		</item>
		<item>
		<title>The colour of money?</title>
		<link>http://blog.rogermontgomery.com/the-colour-of-money/</link>
		<comments>http://blog.rogermontgomery.com/the-colour-of-money/#comments</comments>
		<pubDate>Thu, 09 Feb 2012 10:13:38 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Blue Chips]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Skaffold]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2238</guid>
		<description><![CDATA[It’s been a lackluster start to this year’s company confession session. Only a few companies have so far bucked the stable / downward trend in revenues and profits.
At the top of this list, reporting what I would consider to be quality results are CCP (SQR A2) &#8211; so far the clear standout and a business [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/the-colour-of-money/feed/</wfw:commentRss>
		<slash:comments>5</slash:comments>
		</item>
		<item>
		<title>Has the queen taken the king?</title>
		<link>http://blog.rogermontgomery.com/has-the-queen-taken-the-king/</link>
		<comments>http://blog.rogermontgomery.com/has-the-queen-taken-the-king/#comments</comments>
		<pubDate>Thu, 09 Feb 2012 09:16:48 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2236</guid>
		<description><![CDATA[This piece by Satyajit Das was just sent to us and we thought it worth sharing.
Why Europe&#8217;s Plan to End the Debt Crisis Can&#8217;t and Won&#8217;t Work

The most recent summit failed to reach even the lowest expectations. Euro-Zone leaders displayed poor understanding of the problems, confused strategies, political bickering and infighting as well as inability [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/has-the-queen-taken-the-king/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Does your adviser agree with these stocks?</title>
		<link>http://blog.rogermontgomery.com/does-your-adviser-agree-with-these-stocks/</link>
		<comments>http://blog.rogermontgomery.com/does-your-adviser-agree-with-these-stocks/#comments</comments>
		<pubDate>Thu, 09 Feb 2012 06:00:20 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Mining Services]]></category>
		<category><![CDATA[Skaffold]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2229</guid>
		<description><![CDATA[The ability to pick stocks that never go down, is NOT one of our skills.  Plenty of you can attest to that.  Value investing using the method we advocate in Value.able and using Skaffold.com cannot prevent losses, it is about minimising the cases of permanent impariment.
Asked by BRW&#8217;s Tony Featherstone which small caps we liked [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/does-your-adviser-agree-with-these-stocks/feed/</wfw:commentRss>
		<slash:comments>16</slash:comments>
		</item>
		<item>
		<title>How to analyse a new float or IPO.</title>
		<link>http://blog.rogermontgomery.com/how-to-analyse-a-new-float-or-ipo/</link>
		<comments>http://blog.rogermontgomery.com/how-to-analyse-a-new-float-or-ipo/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 12:01:07 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Floats]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2224</guid>
		<description><![CDATA[There has been a bit of action on the IPO front over the past few months. Sixteen stocks have been added to the main board of the ASX, as set out below with their actual listing date.
I thought it might be a worthwhile task to run the ruler over them and see if any are [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/how-to-analyse-a-new-float-or-ipo/feed/</wfw:commentRss>
		<slash:comments>11</slash:comments>
		</item>
		<item>
		<title>Are there still six value opportunities after the rally?</title>
		<link>http://blog.rogermontgomery.com/are-there-still-six-value-opportunities-after-the-rally/</link>
		<comments>http://blog.rogermontgomery.com/are-there-still-six-value-opportunities-after-the-rally/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 07:44:51 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2220</guid>
		<description><![CDATA[Click on the above IMAGE to see a larger and clearer version of the screenshot from Skaffold.
The ability to turn off and tune out the noise of the market is a key to success.  I don&#8217;t know whether the market will keep rallying amid improving US economic data in the short term while ignoring long [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-there-still-six-value-opportunities-after-the-rally/feed/</wfw:commentRss>
		<slash:comments>50</slash:comments>
		</item>
		<item>
		<title>First base.</title>
		<link>http://blog.rogermontgomery.com/first-base/</link>
		<comments>http://blog.rogermontgomery.com/first-base/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 07:01:07 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Skaffold]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2211</guid>
		<description><![CDATA[US jobs data was stronger than expected and resulted in global equity markets following the US reaction higher.  But is all as it seems?
The increase in jobs was 243,000 but 490,000 were said to be temporary jobs.  The employment number is now the same as a decade ago but a decade ago there were 30 [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/first-base/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>An upgrade amid the malaise!</title>
		<link>http://blog.rogermontgomery.com/an-upgrade-amid-the-malaise/</link>
		<comments>http://blog.rogermontgomery.com/an-upgrade-amid-the-malaise/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 07:10:39 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2208</guid>
		<description><![CDATA[Reporting season has begun in ernest and a few companies we have been watching (and some of which we own in the Montgomery Private Fund) have reported.  Today it was Credit Corp&#8217;s turn (ASX: CCP, SQR* A2).  You can find the presentation here (be sure to read and agree to the ASX and [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/an-upgrade-amid-the-malaise/feed/</wfw:commentRss>
		<slash:comments>34</slash:comments>
		</item>
		<item>
		<title>Will Facebook&#8217;s IPO be a one day Circus?</title>
		<link>http://blog.rogermontgomery.com/will-facebooks-ipo-be-a-one-day-circus/</link>
		<comments>http://blog.rogermontgomery.com/will-facebooks-ipo-be-a-one-day-circus/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 04:37:13 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2205</guid>
		<description><![CDATA[
Unless you live under a waterfall in the rainforests of South America, you will have heard that Facebook has lodged its S-1 (Prospectus) for a probably May 2012 IPO.  Skaffold members can look forward to Facebook being available to view in Skaffold when the team loads up all the international stocks.
To become a Skaffold member [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/will-facebooks-ipo-be-a-one-day-circus/feed/</wfw:commentRss>
		<slash:comments>17</slash:comments>
		</item>
		<item>
		<title>Are two lemons better than one?</title>
		<link>http://blog.rogermontgomery.com/are-two-lemons-better-than-one/</link>
		<comments>http://blog.rogermontgomery.com/are-two-lemons-better-than-one/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 12:25:16 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2202</guid>
		<description><![CDATA[Robert Gottliebsen penned an interesting piece in the Business Spectator today. Using data provided by James Stuart of Ferrier Hodgson that revealed Internet penetration &#8211; as a portion of sales for large US retailers &#8211; as high as 18% and comparing that to average penetration of online sales from retailers in Australia of 1%, Robert [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-two-lemons-better-than-one/feed/</wfw:commentRss>
		<slash:comments>47</slash:comments>
		</item>
		<item>
		<title>Perhaps one of the most important charts?</title>
		<link>http://blog.rogermontgomery.com/perhaps-one-of-the-most-important-charts/</link>
		<comments>http://blog.rogermontgomery.com/perhaps-one-of-the-most-important-charts/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 09:16:39 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2199</guid>
		<description><![CDATA[Late last year the Federal Bank of San Francisco&#8217;s research department published their findings about a relationship between the ageing baby boomers and P/E ratios.  I have long held the view that when Australia&#8217;s baby boomers (the majority of whom are asset rich and cash poor) reach the age that they need to fund [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/perhaps-one-of-the-most-important-charts/feed/</wfw:commentRss>
		<slash:comments>18</slash:comments>
		</item>
		<item>
		<title>Dumped by the wave of Fashion</title>
		<link>http://blog.rogermontgomery.com/dumped-by-the-wave-of-fashion/</link>
		<comments>http://blog.rogermontgomery.com/dumped-by-the-wave-of-fashion/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 07:12:52 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2195</guid>
		<description><![CDATA[There was a lot of surfing on the Montgomery annual holiday so I thought I&#8217;d publish these thoughts on Billabong International for you.  Happy new year and all the best for 2012.
Billabong&#8217;s trading update in December attracted a great deal of attention – not only from shareholders who rushed the exits to sell their shares, [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/dumped-by-the-wave-of-fashion/feed/</wfw:commentRss>
		<slash:comments>10</slash:comments>
		</item>
		<item>
		<title>2012 Prediction No#1.  Will our banks raise capital?</title>
		<link>http://blog.rogermontgomery.com/2012-prediction-no1-will-our-banks-raise-capital/</link>
		<comments>http://blog.rogermontgomery.com/2012-prediction-no1-will-our-banks-raise-capital/#comments</comments>
		<pubDate>Wed, 11 Jan 2012 03:52:38 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2193</guid>
		<description><![CDATA[The banks are in the firing line again. A few months ago it was their record profits; today its talks of job cuts that dominate.  In November I noted that an industry insider had informed me that tens of thousands of jobs would be cut from financial services in 2012.  News today of job losses [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/2012-prediction-no1-will-our-banks-raise-capital/feed/</wfw:commentRss>
		<slash:comments>77</slash:comments>
		</item>
		<item>
		<title>Value.able: Billabong</title>
		<link>http://blog.rogermontgomery.com/value-ablebillabong/</link>
		<comments>http://blog.rogermontgomery.com/value-ablebillabong/#comments</comments>
		<pubDate>Wed, 21 Dec 2011 03:41:39 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2191</guid>
		<description><![CDATA[Roger Montgomery runs through the numbers behind Billabong’s spectacular 40% sell-off this week. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-ablebillabong/feed/</wfw:commentRss>
		<slash:comments>19</slash:comments>
		</item>
		<item>
		<title>Peace and Joy to all this Christmas.</title>
		<link>http://blog.rogermontgomery.com/peace-and-joy-to-all-this-christmas/</link>
		<comments>http://blog.rogermontgomery.com/peace-and-joy-to-all-this-christmas/#comments</comments>
		<pubDate>Tue, 20 Dec 2011 12:03:16 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2158</guid>
		<description><![CDATA[Thank you for your support in 2011 and for all of your wonderful contributions to the knowledge bank.
I am delighted to finish the year on a positive note with Cochlear (see post below) announcing it has identified the source of the malfunction of its Nucleas CI500 cochlear implant.  This will also be positive news for [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/peace-and-joy-to-all-this-christmas/feed/</wfw:commentRss>
		<slash:comments>39</slash:comments>
		</item>
		<item>
		<title>Are investors giving up?</title>
		<link>http://blog.rogermontgomery.com/are-investors-giving-up/</link>
		<comments>http://blog.rogermontgomery.com/are-investors-giving-up/#comments</comments>
		<pubDate>Tue, 20 Dec 2011 11:46:16 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Blue Chips]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2183</guid>
		<description><![CDATA[We have talked here at the blog about hypothecation, re-hypotecation and hyper-hypothecation, about credit default swaps about a Chinese property bubble bursting, about lower iron ore prices, slower economic growth, increased savings and declining rates of credit expansion and a European sovereign default.  Always the value investor, we are on the look out for anything [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-investors-giving-up/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
		</item>
		<item>
		<title>Cochlear update</title>
		<link>http://blog.rogermontgomery.com/cochlear-update/</link>
		<comments>http://blog.rogermontgomery.com/cochlear-update/#comments</comments>
		<pubDate>Tue, 20 Dec 2011 10:20:29 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Blue Chips]]></category>
		<category><![CDATA[Health Care]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2178</guid>
		<description><![CDATA[
Aside from fears of reputational damage, one of the big concerns surrounding Cochlear&#8217;s recall earlier this year, was how long it would take to return to market.  As you know we purchased shares after the announcement that it had recalled its Nucleus CI500 cochlear implant much to the chagrin of some investors who follow our [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/cochlear-update/feed/</wfw:commentRss>
		<slash:comments>45</slash:comments>
		</item>
		<item>
		<title>Not so High at JB Hi-Fi?</title>
		<link>http://blog.rogermontgomery.com/not-so-high-at-jb-hi-fi/</link>
		<comments>http://blog.rogermontgomery.com/not-so-high-at-jb-hi-fi/#comments</comments>
		<pubDate>Fri, 16 Dec 2011 12:53:35 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2171</guid>
		<description><![CDATA[You will have noticed that since November 16 every post here at the Blog has been a cautionary one.  You have not seen me post a &#8216;here&#8217;s possible good value&#8217; story.  There is a little method in that, even though we might be unduly conservative.  But here goes again&#8230;
Many of you have heard me discuss [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/not-so-high-at-jb-hi-fi/feed/</wfw:commentRss>
		<slash:comments>61</slash:comments>
		</item>
		<item>
		<title>Returning to regular programming shortly&#8230;we hope!</title>
		<link>http://blog.rogermontgomery.com/returning-to-regular-programming-shortly-we-hope/</link>
		<comments>http://blog.rogermontgomery.com/returning-to-regular-programming-shortly-we-hope/#comments</comments>
		<pubDate>Fri, 16 Dec 2011 11:04:36 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Banks]]></category>
		<category><![CDATA[Financials]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2168</guid>
		<description><![CDATA[Continuing on our hypothecation theme, David Stockman, former Director of the White House Office of Management and Budget during the Reagan Administration penned the following to Mrs Lee Adler of the Wall Street Examiner. Stockman is currently writing a book on the financial crisis and some of the thoughts he expresses in his exchanges with [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/returning-to-regular-programming-shortly-we-hope/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
		</item>
		<item>
		<title>Value.able: Two outstanding mid-caps come into view</title>
		<link>http://blog.rogermontgomery.com/value-able-two-outstanding-mid-caps-come-into-view/</link>
		<comments>http://blog.rogermontgomery.com/value-able-two-outstanding-mid-caps-come-into-view/#comments</comments>
		<pubDate>Tue, 13 Dec 2011 23:59:28 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2167</guid>
		<description><![CDATA[Investors should keep a close watch on Monadelphous and Fleetwood. If their premiums to intrinsic value decline, they may present attractive opportunities. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-two-outstanding-mid-caps-come-into-view/feed/</wfw:commentRss>
		<slash:comments>7</slash:comments>
		</item>
		<item>
		<title>Hyper what?</title>
		<link>http://blog.rogermontgomery.com/hyper-what/</link>
		<comments>http://blog.rogermontgomery.com/hyper-what/#comments</comments>
		<pubDate>Mon, 12 Dec 2011 05:16:32 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Financials]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2164</guid>
		<description><![CDATA[How many of you have heard the financial term ‘Hypothecation’?  Microsoft word hasn’t – the bug-prone program constantly tells me to check the spelling.  If it’s also new to you, take note because you may be hearing a lot more about it and it could impact your portfolio.
Prior to the collapse of MF [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/hyper-what/feed/</wfw:commentRss>
		<slash:comments>33</slash:comments>
		</item>
		<item>
		<title>Is the bubble bursting?</title>
		<link>http://blog.rogermontgomery.com/is-the-bubble-bursting/</link>
		<comments>http://blog.rogermontgomery.com/is-the-bubble-bursting/#comments</comments>
		<pubDate>Thu, 08 Dec 2011 11:16:37 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Property]]></category>
		<category><![CDATA[Resources]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2162</guid>
		<description><![CDATA[In 2010 here at the Insights Blog I wrote:
&#8220;a bubble guaranteed to burst is debt fuelled asset inflation; buyers debt fund most or all of the purchase price of an asset whose cash flows are unable to support the interest and debt obligations. Equity speculation alone is different to a bubble that an investor can [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-the-bubble-bursting/feed/</wfw:commentRss>
		<slash:comments>63</slash:comments>
		</item>
		<item>
		<title>Value.able: Forget the Index</title>
		<link>http://blog.rogermontgomery.com/value-able-forget-the-index/</link>
		<comments>http://blog.rogermontgomery.com/value-able-forget-the-index/#comments</comments>
		<pubDate>Wed, 07 Dec 2011 12:06:48 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2161</guid>
		<description><![CDATA[Buying shares in the right businesses will help investors avoid being caught in an index that is going nowhere. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-forget-the-index/feed/</wfw:commentRss>
		<slash:comments>56</slash:comments>
		</item>
		<item>
		<title>Not waving drowning?</title>
		<link>http://blog.rogermontgomery.com/now-waving-drowning/</link>
		<comments>http://blog.rogermontgomery.com/now-waving-drowning/#comments</comments>
		<pubDate>Sat, 03 Dec 2011 00:29:23 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2152</guid>
		<description><![CDATA[This is a retail business that I&#8217;ve known for a long time, indeed in a past life I influenced one of its largest shareholdings.
At that time the company was leveraging its 90% brand awareness; increasing its return on equity every year, from 40% to ultimately more than 70%, without any debt; it was rolling out [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/now-waving-drowning/feed/</wfw:commentRss>
		<slash:comments>55</slash:comments>
		</item>
		<item>
		<title>Value.able: Equities are not dead</title>
		<link>http://blog.rogermontgomery.com/value-able-equities-are-not-dead/</link>
		<comments>http://blog.rogermontgomery.com/value-able-equities-are-not-dead/#comments</comments>
		<pubDate>Wed, 30 Nov 2011 12:04:35 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2160</guid>
		<description><![CDATA[In 1979, just like today, many thought equities were finished. Investors in Credit Corp, Flight Centre, Northern Star and many more top stocks would disagree. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-equities-are-not-dead/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Drunk from binge borrowing?</title>
		<link>http://blog.rogermontgomery.com/drunk-from-binge-borrowing/</link>
		<comments>http://blog.rogermontgomery.com/drunk-from-binge-borrowing/#comments</comments>
		<pubDate>Fri, 25 Nov 2011 05:43:57 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2145</guid>
		<description><![CDATA[


A good friend who lives and works in the UK recently sent me an allegory that succinctly describes, for those who haven&#8217;t read Michael Lewis, the growth of sub-prime loans, the collateralised debt obligations into which they were securitised and the credit default swaps which were the tradable insurance contracts on the CDO&#8217;s.  It then [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/drunk-from-binge-borrowing/feed/</wfw:commentRss>
		<slash:comments>104</slash:comments>
		</item>
		<item>
		<title>Value.able: The Rejected Shop</title>
		<link>http://blog.rogermontgomery.com/value-able-the-rejected-shop/</link>
		<comments>http://blog.rogermontgomery.com/value-able-the-rejected-shop/#comments</comments>
		<pubDate>Thu, 24 Nov 2011 00:01:53 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2143</guid>
		<description><![CDATA[The Reject Shop is cheap but not good value. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-the-rejected-shop/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>What are Roger Montgomery&#8217;s thoughts on Bluescope Steel?</title>
		<link>http://blog.rogermontgomery.com/what-are-roger-montgomerys-thoughts-on-bluescope-steel/</link>
		<comments>http://blog.rogermontgomery.com/what-are-roger-montgomerys-thoughts-on-bluescope-steel/#comments</comments>
		<pubDate>Wed, 23 Nov 2011 01:38:41 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2150</guid>
		<description><![CDATA[Roger Montgomery speaks to Ross Greenwood about his thoughts on Bluescope Steel. Listen 
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-are-roger-montgomerys-thoughts-on-bluescope-steel/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>What on earth is a covered bond?</title>
		<link>http://blog.rogermontgomery.com/what-on-earth-is-a-covered-bond/</link>
		<comments>http://blog.rogermontgomery.com/what-on-earth-is-a-covered-bond/#comments</comments>
		<pubDate>Fri, 18 Nov 2011 09:42:23 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Banks]]></category>
		<category><![CDATA[Insightful Insights]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2139</guid>
		<description><![CDATA[
When Sean Connery played James Bond in the 1967 hit, You Only Live Twice one doubts he had this week&#8217;s billion dollar covered bond issue of ANZ in mind.  Asking the question &#8220;what is a covered bond?&#8221; reveals an extra life has been given to borrowers at the expense of prudent savers.  Its Australia&#8217;s own [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-on-earth-is-a-covered-bond/feed/</wfw:commentRss>
		<slash:comments>57</slash:comments>
		</item>
		<item>
		<title>Are bargains available at Woolworths?</title>
		<link>http://blog.rogermontgomery.com/are-bargains-available-at-woolworths/</link>
		<comments>http://blog.rogermontgomery.com/are-bargains-available-at-woolworths/#comments</comments>
		<pubDate>Thu, 17 Nov 2011 03:00:01 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Blue Chips]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2135</guid>
		<description><![CDATA[On Wednesday November 2 Woolworths held a strategy briefing for professional investors. Woolworth&#8217;s effectively asked us to adopt a longer time frame before judging its performance and revealed four strategic priorities that I will describe in a moment.
Prior to the strategy day, the company updated the stock market with a growth outlook that was the [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-bargains-available-at-woolworths/feed/</wfw:commentRss>
		<slash:comments>22</slash:comments>
		</item>
		<item>
		<title>Is it just Harvey Norman or bricks &amp; mortar retailing generally?</title>
		<link>http://blog.rogermontgomery.com/is-it-just-harvey-norman-or-bricks-mortar-retailing-generally/</link>
		<comments>http://blog.rogermontgomery.com/is-it-just-harvey-norman-or-bricks-mortar-retailing-generally/#comments</comments>
		<pubDate>Thu, 17 Nov 2011 02:11:24 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2131</guid>
		<description><![CDATA[You don’t normally expect to get investment tips from a mothers’ group get-together, but that’s what happened to me recently when the conversation turned to retail operations.
Relaxing with a glass of pinot gris the women, who have met regularly for a decade, were explaining why they spend less time in Harvey Norman stores than they [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-it-just-harvey-norman-or-bricks-mortar-retailing-generally/feed/</wfw:commentRss>
		<slash:comments>26</slash:comments>
		</item>
		<item>
		<title>Roger Montgomery discusses Skaffold with Ross Greenwood</title>
		<link>http://blog.rogermontgomery.com/roger-montgomery-discusses-skaffold-with-ross-greenwood/</link>
		<comments>http://blog.rogermontgomery.com/roger-montgomery-discusses-skaffold-with-ross-greenwood/#comments</comments>
		<pubDate>Wed, 16 Nov 2011 01:52:40 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2151</guid>
		<description><![CDATA[Roger Montgomery speaks to Ross Greenwood about his new stock market product Skaffold. listen
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/roger-montgomery-discusses-skaffold-with-ross-greenwood/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Value.able: A discovered Gem</title>
		<link>http://blog.rogermontgomery.com/value-able-a-discovered-gem/</link>
		<comments>http://blog.rogermontgomery.com/value-able-a-discovered-gem/#comments</comments>
		<pubDate>Tue, 15 Nov 2011 22:36:50 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2129</guid>
		<description><![CDATA[Among nano caps. Embelton Limited stands out even though its too small to attract broker research. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-a-discovered-gem/feed/</wfw:commentRss>
		<slash:comments>8</slash:comments>
		</item>
		<item>
		<title>Are the banks robbing sensible investment returns?</title>
		<link>http://blog.rogermontgomery.com/are-the-banks-robbing-sensible-investment-returns/</link>
		<comments>http://blog.rogermontgomery.com/are-the-banks-robbing-sensible-investment-returns/#comments</comments>
		<pubDate>Tue, 15 Nov 2011 16:43:28 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Banks]]></category>
		<category><![CDATA[Financials]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2121</guid>
		<description><![CDATA[Amid all the talk of GFC II and the Eurozone unravelling, Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) has been increasing its stake in US bank, Wells Fargo &#38; Co (WFC – 420 Montgomery Street San Francisco).
Buffett (or was it Todd Combs?) topped up Berkshire’s holdings in the world’s 24th biggest bank by 9.7 million shares [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-the-banks-robbing-sensible-investment-returns/feed/</wfw:commentRss>
		<slash:comments>45</slash:comments>
		</item>
		<item>
		<title>Are these stocks where the highest risk resides?</title>
		<link>http://blog.rogermontgomery.com/is-this-where-the-highest-risk-resides/</link>
		<comments>http://blog.rogermontgomery.com/is-this-where-the-highest-risk-resides/#comments</comments>
		<pubDate>Wed, 09 Nov 2011 05:11:08 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Financials]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Skaffold]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2118</guid>
		<description><![CDATA[I have not discovered a method for predicting the short term direction of share prices.  Once we purchase an A1 company&#8217;s shares at a discount to intrinsic value, we cannot know what the share price will do in the short term.  We do know that provided the prospects for intrinsic value growth remain bright, the [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-this-where-the-highest-risk-resides/feed/</wfw:commentRss>
		<slash:comments>71</slash:comments>
		</item>
		<item>
		<title>Value.able: Worth the wait&#8230;</title>
		<link>http://blog.rogermontgomery.com/value-able-worth-the-wait/</link>
		<comments>http://blog.rogermontgomery.com/value-able-worth-the-wait/#comments</comments>
		<pubDate>Tue, 08 Nov 2011 22:39:24 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2130</guid>
		<description><![CDATA[Good luck trying to buy shares in this boring but reliable business. It is rarely traded and the family owns two-thirds of the shares. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-worth-the-wait/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Value.able: Harvey Norman</title>
		<link>http://blog.rogermontgomery.com/value-able-harvey-norman/</link>
		<comments>http://blog.rogermontgomery.com/value-able-harvey-norman/#comments</comments>
		<pubDate>Thu, 03 Nov 2011 23:24:41 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2114</guid>
		<description><![CDATA[Gerry&#8217;s share price and intrinsic value are about what they were in 2003 and the outlook is not encouraging. Read Roger&#8217;s article at www.eurekreport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-harvey-norman/feed/</wfw:commentRss>
		<slash:comments>12</slash:comments>
		</item>
		<item>
		<title>Are you sitting down?</title>
		<link>http://blog.rogermontgomery.com/are-you-sitting-down/</link>
		<comments>http://blog.rogermontgomery.com/are-you-sitting-down/#comments</comments>
		<pubDate>Thu, 03 Nov 2011 08:46:12 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2111</guid>
		<description><![CDATA[I have just returned to the office after appearing on CNBC with my old friend Matthew Kidman.  We were in agreement on virtually all points (which perhaps surprisingly made the program very interesting).  If the market does indeed provide a once-in-a-lifetime opportunity, in the next 12 months, to buy excellent value industrial companies, then you [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-you-sitting-down/feed/</wfw:commentRss>
		<slash:comments>94</slash:comments>
		</item>
		<item>
		<title>Was this float a Turkey?</title>
		<link>http://blog.rogermontgomery.com/is-it-a-turkey/</link>
		<comments>http://blog.rogermontgomery.com/is-it-a-turkey/#comments</comments>
		<pubDate>Thu, 03 Nov 2011 05:50:51 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Floats]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2108</guid>
		<description><![CDATA[The float of Collins Foods earlier in the year at a price of $2.50 did not interest your author.  The lack of interest however was not shared by others and the company listed on the ASX with a &#8216;Top 20 Shareholders&#8217; list that included many if not most of the major nominee companies (Nominee companies [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-it-a-turkey/feed/</wfw:commentRss>
		<slash:comments>32</slash:comments>
		</item>
		<item>
		<title>Can you feel it?</title>
		<link>http://blog.rogermontgomery.com/can-you-feel-it/</link>
		<comments>http://blog.rogermontgomery.com/can-you-feel-it/#comments</comments>
		<pubDate>Thu, 27 Oct 2011 23:51:35 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2102</guid>
		<description><![CDATA[There’s something in the air…. And you may be able to assist.
Skaffold® is set to go live and I am incredibly proud of what Team Skaffold have achieved.
Before Skaffold, the stock market was noisy and confusing. Very soon, all that will change.  Skaffold will reinvent and reignite the way you invest.
The data that automatically updates [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/can-you-feel-it/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Value.able: Woolworths worries its faithful fans</title>
		<link>http://blog.rogermontgomery.com/value-able-woolworths-worries-its-faithful-fans/</link>
		<comments>http://blog.rogermontgomery.com/value-able-woolworths-worries-its-faithful-fans/#comments</comments>
		<pubDate>Tue, 25 Oct 2011 22:45:36 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2104</guid>
		<description><![CDATA[According to Value.able investor Roger Montgomery, Woolworths is approaching its intrinsic value. However, as he explains, the company faces so many challenges that new CEO Grant O&#8217;Brien is going to have offer a compelling new growth strategy very soon. Read Roger&#8217;s article at www.eureakreport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-woolworths-worries-its-faithful-fans/feed/</wfw:commentRss>
		<slash:comments>31</slash:comments>
		</item>
		<item>
		<title>Invest in KFC or just eat it?</title>
		<link>http://blog.rogermontgomery.com/invest-in-kfc-or-just-eat-it/</link>
		<comments>http://blog.rogermontgomery.com/invest-in-kfc-or-just-eat-it/#comments</comments>
		<pubDate>Tue, 25 Oct 2011 13:46:21 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Floats]]></category>
		<category><![CDATA[Insightful Insights]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2098</guid>
		<description><![CDATA[Back in July I wrote the following column about the impending float of Collins Foods/KFC at between $2.50 and $2.92 per share and suggested I would not be participating in the float on behalf of investors in the Montgomery [Private] Fund. For Value.able investors, the column, along with the fact the shares now trade at [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/invest-in-kfc-or-just-eat-it/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>If value nags, are you listening?</title>
		<link>http://blog.rogermontgomery.com/if-value-nags-are-you-listening/</link>
		<comments>http://blog.rogermontgomery.com/if-value-nags-are-you-listening/#comments</comments>
		<pubDate>Wed, 19 Oct 2011 14:47:40 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Blue Chips]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Health Care]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2092</guid>
		<description><![CDATA[Value.able investors can be forgiven for giving up.  You wait so long for value to be presented and then when it appears it just hangs around, remaining &#8216;good value&#8217; for what seems an age.  Value can sometimes nag and nag and by the time action becomes urgent, the newest and least patient value investors are [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/if-value-nags-are-you-listening/feed/</wfw:commentRss>
		<slash:comments>87</slash:comments>
		</item>
		<item>
		<title>What are Roger Montgomery’s thoughts on executive pay?</title>
		<link>http://blog.rogermontgomery.com/what-are-roger-montgomery%e2%80%99s-thoughts-on-executive-pay/</link>
		<comments>http://blog.rogermontgomery.com/what-are-roger-montgomery%e2%80%99s-thoughts-on-executive-pay/#comments</comments>
		<pubDate>Wed, 19 Oct 2011 03:57:19 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2096</guid>
		<description><![CDATA[It is AGM season right now and the new executive pay rules are in everyone’s thoughts. Roger Montgomery shares his insights with Ross Greenwood on 2GB Money News. Listen to the podcast.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-are-roger-montgomery%e2%80%99s-thoughts-on-executive-pay/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/19_october_roger_montgomery_talks_value.able_value_investing_with_ross_greenwood_on_2gb.mp3" length="3102946" type="audio/mpeg" />
		</item>
		<item>
		<title>Value.able: Telstra</title>
		<link>http://blog.rogermontgomery.com/value-able-telstra-2/</link>
		<comments>http://blog.rogermontgomery.com/value-able-telstra-2/#comments</comments>
		<pubDate>Tue, 18 Oct 2011 22:42:22 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2094</guid>
		<description><![CDATA[Telstra&#8217;s deal with NBN Co could give the company a lift, however as Roger Montgomery writes, &#8220;the longer-term outlook is less certain&#8221;. Read Roger&#8217;s article at www.eurkeareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-telstra-2/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Is Australian manufacturing dead, or just in need of a cuddle?</title>
		<link>http://blog.rogermontgomery.com/is-australian-manufacturing-dead-or-just-in-need-of-a-cuddle/</link>
		<comments>http://blog.rogermontgomery.com/is-australian-manufacturing-dead-or-just-in-need-of-a-cuddle/#comments</comments>
		<pubDate>Thu, 13 Oct 2011 09:33:23 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Manufacturing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2075</guid>
		<description><![CDATA[With high salaries, higher rents, a strong Aussie dollar and ‘level-playing-field’ policies, are Australian manufacturers being unwillingly and inexorably dragged to doormat status?
We are in a race to the bottom and run the risk of ultimately being chewed up and spat out when our commodities are no longer required with such urgency.
Driven by a belief [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-australian-manufacturing-dead-or-just-in-need-of-a-cuddle/feed/</wfw:commentRss>
		<slash:comments>105</slash:comments>
		</item>
		<item>
		<title>Value.able: JB Hi-Fi</title>
		<link>http://blog.rogermontgomery.com/value-able-jb-hi-fi/</link>
		<comments>http://blog.rogermontgomery.com/value-able-jb-hi-fi/#comments</comments>
		<pubDate>Wed, 12 Oct 2011 11:47:40 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2073</guid>
		<description><![CDATA[Whilst the latest iPhone won&#8217;t ignite JB HI-Fi&#8217;s share price, the stock is back in Roger Montgomery&#8217;s buy zone. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-jb-hi-fi/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Carbon Tax – What are Roger Montgomery’s thoughts?</title>
		<link>http://blog.rogermontgomery.com/carbon-tax-%e2%80%93-what-are-roger-montgomery%e2%80%99s-thoughts/</link>
		<comments>http://blog.rogermontgomery.com/carbon-tax-%e2%80%93-what-are-roger-montgomery%e2%80%99s-thoughts/#comments</comments>
		<pubDate>Wed, 12 Oct 2011 01:35:44 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2085</guid>
		<description><![CDATA[The Carbon Tax is one everyone’s lips at the moment. Roger Montgomery shares his thoughts on the government’s new tax with Ross Greenwood on 2GB money News. Listen to the podcast
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/carbon-tax-%e2%80%93-what-are-roger-montgomery%e2%80%99s-thoughts/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/12_october_roger_montgomery_talks_value.able_investing_with_ross_greenwood_on_2gb.mp3" length="3026914" type="audio/mpeg" />
		</item>
		<item>
		<title>What closed Sydney Harbour Tunnel last night?</title>
		<link>http://blog.rogermontgomery.com/what-closed-sydney-harbour-tunnel-last-night-2/</link>
		<comments>http://blog.rogermontgomery.com/what-closed-sydney-harbour-tunnel-last-night-2/#comments</comments>
		<pubDate>Tue, 11 Oct 2011 09:47:01 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Telecommunications]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2057</guid>
		<description><![CDATA[
Vocus Communications is in the business of selling bandwidth. The company resells it on the cable that runs under the Pacific between Sydney and the US.  Last night they laid some of their own under another sea; Sydney Harbour. The company &#8211; in which I have previously disclosed I own a small number of shares [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-closed-sydney-harbour-tunnel-last-night-2/feed/</wfw:commentRss>
		<slash:comments>30</slash:comments>
		</item>
		<item>
		<title>How to find invest well in a volatile market</title>
		<link>http://blog.rogermontgomery.com/how-to-find-invest-well-in-a-volatile-market/</link>
		<comments>http://blog.rogermontgomery.com/how-to-find-invest-well-in-a-volatile-market/#comments</comments>
		<pubDate>Mon, 10 Oct 2011 23:48:59 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2070</guid>
		<description><![CDATA[Montgomery Investment Management founder Roger Montgomery reassures stock market investors that its quite easy to value a business. Using Roger&#8217;s simple Value.able formula, investors can value any business, listed or unlisted. &#8221;If you simply take the return on equity, divide it by the required return, so the return that you think is reasonable, and multiply it [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/how-to-find-invest-well-in-a-volatile-market/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Which A1 twin is outperforming?</title>
		<link>http://blog.rogermontgomery.com/which-a1-twin-is-outperforming/</link>
		<comments>http://blog.rogermontgomery.com/which-a1-twin-is-outperforming/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 11:45:51 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2045</guid>
		<description><![CDATA[This journey began with the simple question Will David beat Goliath?
 Value.able Graduate Scott T resolved to take up a fight with conventional investing, by tracking the performance of a typical and published ‘institutional-style’ portfolio against a portfolio of companies that receive my highest Montgomery Quality Ratings.
By 30 June 2011 the A1 portfolio was up [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/which-a1-twin-is-outperforming/feed/</wfw:commentRss>
		<slash:comments>36</slash:comments>
		</item>
		<item>
		<title>Finsia award nominees announced</title>
		<link>http://blog.rogermontgomery.com/finsia-award-nominees-announced/</link>
		<comments>http://blog.rogermontgomery.com/finsia-award-nominees-announced/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 07:31:14 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[In the Press]]></category>
		<category><![CDATA[Media Room]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2090</guid>
		<description><![CDATA[Nominations for Finsia&#8217;s Pinnacle Awards, including most outstanding industry contribution, most outstanding young professional and most outstanding future leader, were announced recently. Roger Montgomery has been nominated for most outstanding future leadership. The winners will be announced at Finsia&#8217;s 125th Anniversary Gala Dinner on October 25. Read the article.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/finsia-award-nominees-announced/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>CSL, Cardno and Saracen Minerals &#8211; what are Roger Montgomery&#8217;s insights?</title>
		<link>http://blog.rogermontgomery.com/csl-cardno-and-saracen-minerals-what-are-roger-montgomerys-insights/</link>
		<comments>http://blog.rogermontgomery.com/csl-cardno-and-saracen-minerals-what-are-roger-montgomerys-insights/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 05:13:39 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2080</guid>
		<description><![CDATA[Roger Montgomery seeks out extraordinary A1 businesses whose share prices are trading at prices less than they&#8217;re worth. Roger also looks for businesses that produce a high rate of return on equity, have little or no debt and whose intrinsic value is forecast to rise over the coming years. Do CSL, Cardno (CDD) and Saracen [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/csl-cardno-and-saracen-minerals-what-are-roger-montgomerys-insights/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Is Vocus Communications on Roger Montgomery&#8217;s buy list?</title>
		<link>http://blog.rogermontgomery.com/is-vocus-communications-on-roger-montgomerys-buy-list/</link>
		<comments>http://blog.rogermontgomery.com/is-vocus-communications-on-roger-montgomerys-buy-list/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 05:04:25 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2079</guid>
		<description><![CDATA[In this appearance on Your Money Your Call with Chris KImber, Roger Montgomery shares his Value.able insights on Vocus Communications and Matrix C&#38;E. Roger also answers a viewer question on stop losses and explains why Lend Lease fails to make his A1 grade. Watch the interview
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-vocus-communications-on-roger-montgomerys-buy-list/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Which A1 stock is Roger Montgomery buying right now?</title>
		<link>http://blog.rogermontgomery.com/which-a1-stock-is-roger-montgomery-buying-right-now/</link>
		<comments>http://blog.rogermontgomery.com/which-a1-stock-is-roger-montgomery-buying-right-now/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 04:54:21 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2078</guid>
		<description><![CDATA[When stock markets &#8216;correct&#8217;, many investors become fearful. Nervous of further losses, investors sell out, causing share prices to fall even further. Value.able Graduates, like Roger Montgomery, embrace market volatility as an opportunity to acquire shares in extraordinary A1 businesses at prices less than they&#8217;re worth. In this appearance on Your Money Your call with [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/which-a1-stock-is-roger-montgomery-buying-right-now/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>How does Roger Montgomery avoid value traps?</title>
		<link>http://blog.rogermontgomery.com/how-does-roger-montgomery-avoid-value-traps/</link>
		<comments>http://blog.rogermontgomery.com/how-does-roger-montgomery-avoid-value-traps/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 02:50:42 +0000</pubDate>
		<dc:creator>Roger Montgomery's Team</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2054</guid>
		<description><![CDATA[You&#8217;ve acquired shares in a company at a price less than your estimate of it&#8217;s Value.able intrinsic value, yet the share price continues to slide (Lend Lease, Babcock and Brown). Maybe your estimate of the company&#8217;s Value.able intrinsic value was based on misleading information (ABC Learning Centres)? Or the company just wasn&#8217;t investment grade, despite [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/how-does-roger-montgomery-avoid-value-traps/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>What are Roger Montgomery’s thoughts on Silver &amp; Gold?</title>
		<link>http://blog.rogermontgomery.com/what-are-roger-montgomery%e2%80%99s-thoughts-on-silver-gold/</link>
		<comments>http://blog.rogermontgomery.com/what-are-roger-montgomery%e2%80%99s-thoughts-on-silver-gold/#comments</comments>
		<pubDate>Thu, 06 Oct 2011 02:36:16 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2088</guid>
		<description><![CDATA[In this interview with Ross Greenwood on 2GB Money News, Roger Montgomery shares his thoughts on investing in Silver &#38; Gold stocks Troy Resources NL (ASX:TRY) and Silver Lake Resources Limited (ASX:SLR). Listen to the podcast
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-are-roger-montgomery%e2%80%99s-thoughts-on-silver-gold/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/06_october_roger_montgomery_talks_value.able__value_investing_with_ross_greenwood_on_2gb.mp3" length="4636298" type="audio/mpeg" />
		</item>
		<item>
		<title>Process of elimination</title>
		<link>http://blog.rogermontgomery.com/process-of-elimination/</link>
		<comments>http://blog.rogermontgomery.com/process-of-elimination/#comments</comments>
		<pubDate>Wed, 05 Oct 2011 00:24:43 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2051</guid>
		<description><![CDATA[Roger Montgomery reveals nine companies trading below his estimate of their Value.able intrinsic value. Read Roger&#8217;s article.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/process-of-elimination/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Value.able: Six new stocks</title>
		<link>http://blog.rogermontgomery.com/value-able-six-new-stocks/</link>
		<comments>http://blog.rogermontgomery.com/value-able-six-new-stocks/#comments</comments>
		<pubDate>Tue, 04 Oct 2011 22:26:22 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2048</guid>
		<description><![CDATA[Roger Montgomery shares his Value.able insights on six new companies that meet one of his strict criteria criteria of extraordinary businesses &#8211; recurring revenue. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-six-new-stocks/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Are your profits recurring?</title>
		<link>http://blog.rogermontgomery.com/are-your-profits-recurring/</link>
		<comments>http://blog.rogermontgomery.com/are-your-profits-recurring/#comments</comments>
		<pubDate>Fri, 30 Sep 2011 05:26:43 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2040</guid>
		<description><![CDATA[With school holidays well and truly underway, plenty of my peers are also taking a few days off here and there to take their kids to the football finals, duck up to the beach or entertain. That offers plenty of time to review your portfolio with recurring profits in mind.
Stability and predictability are two key [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-your-profits-recurring/feed/</wfw:commentRss>
		<slash:comments>85</slash:comments>
		</item>
		<item>
		<title>Would a dash of income and yield help you survive?</title>
		<link>http://blog.rogermontgomery.com/would-a-dash-of-income-and-yield-help-you-survive/</link>
		<comments>http://blog.rogermontgomery.com/would-a-dash-of-income-and-yield-help-you-survive/#comments</comments>
		<pubDate>Thu, 29 Sep 2011 13:29:33 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Dividends]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2034</guid>
		<description><![CDATA[It’s not unusual for stock market investors, including Value.able Graduates, to assume, incorrectly, that I’m against high dividends.
It comes from the position I take: companies that generate high rates of return on equity would make their shareholders a lot more money in the long term if they retained their profits (rather than paid them out [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/would-a-dash-of-income-and-yield-help-you-survive/feed/</wfw:commentRss>
		<slash:comments>35</slash:comments>
		</item>
		<item>
		<title>Value.able: Centro</title>
		<link>http://blog.rogermontgomery.com/value-able-centro/</link>
		<comments>http://blog.rogermontgomery.com/value-able-centro/#comments</comments>
		<pubDate>Wed, 28 Sep 2011 02:07:49 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2033</guid>
		<description><![CDATA[Without cash, businesses can die. Understanding cash flow is a simple way to understand the quality of a business, and avoid investing in the next Centro. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-centro/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>How would Roger Montgomery manage this inherited portfolio?</title>
		<link>http://blog.rogermontgomery.com/how-would-roger-montgomery-manage-this-inherited-portfolio/</link>
		<comments>http://blog.rogermontgomery.com/how-would-roger-montgomery-manage-this-inherited-portfolio/#comments</comments>
		<pubDate>Fri, 23 Sep 2011 12:01:34 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2025</guid>
		<description><![CDATA[Imagine you inherited a portfolio that included Ausdrill (ASL), Boart Longyear (BLY), Monadelphous Group (MND), Bradken (BKN), UGL Limited (UGL), Fortescue (FMG), BlueScope (BSL), Oz Minerals (OZL), Incitec Pivot (IPL), Mirabela Nickel (MBN), Myer (MYR), Fleetwood Corp (FWD), Santos (STO), Oil Search (OSH), Reckon (RKN), Iress (IRE), Roc Oil (ROC), Webjet (WEB), Forge Group (FGE), [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/how-would-roger-montgomery-manage-this-inherited-portfolio/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Should you be readying yourself?</title>
		<link>http://blog.rogermontgomery.com/should-you-be-readying-yourself/</link>
		<comments>http://blog.rogermontgomery.com/should-you-be-readying-yourself/#comments</comments>
		<pubDate>Fri, 23 Sep 2011 04:31:55 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2016</guid>
		<description><![CDATA[If you&#8217;re sitting at home or in your office wondering if the party is over and it&#8217;s all turned to pumpkins and mice, allow me to offer you a few insights.
I know of seasoned market practitioners that have deferred the upping of stumps to set up new businesses because they believe there is worse to [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/should-you-be-readying-yourself/feed/</wfw:commentRss>
		<slash:comments>90</slash:comments>
		</item>
		<item>
		<title>Have you truly made up YOUR mind?</title>
		<link>http://blog.rogermontgomery.com/have-you-truly-made-up-your-mind/</link>
		<comments>http://blog.rogermontgomery.com/have-you-truly-made-up-your-mind/#comments</comments>
		<pubDate>Thu, 22 Sep 2011 17:25:58 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2013</guid>
		<description><![CDATA[I&#8217;m always looking for Value.able contributions that will enahnce the value of our Insights blog.
Scott&#8217;s comparison of the performance of a Value.able A1 portfolio and a conventional portfolio promoted by a large bank over the last six months is one such example.  Nick&#8217;s contribution here about independent thinking is another.  Take it away [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/have-you-truly-made-up-your-mind/feed/</wfw:commentRss>
		<slash:comments>11</slash:comments>
		</item>
		<item>
		<title>Value.able: Thanks for nothing</title>
		<link>http://blog.rogermontgomery.com/value-able-thanks-for-nothing/</link>
		<comments>http://blog.rogermontgomery.com/value-able-thanks-for-nothing/#comments</comments>
		<pubDate>Wed, 21 Sep 2011 05:19:04 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2011</guid>
		<description><![CDATA[The track record of acquisitions in Australia is nothing short of appalling. To the detriment of employees and shareholders, hundreds of billions of dollars have been lost. Yet managers continue to be remunerated for sub-standard returns. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-thanks-for-nothing/feed/</wfw:commentRss>
		<slash:comments>5</slash:comments>
		</item>
		<item>
		<title>Does Roger Montgomery embrace market volatility?</title>
		<link>http://blog.rogermontgomery.com/does-roger-montgomery-embrace-market-volatility/</link>
		<comments>http://blog.rogermontgomery.com/does-roger-montgomery-embrace-market-volatility/#comments</comments>
		<pubDate>Wed, 21 Sep 2011 04:28:20 +0000</pubDate>
		<dc:creator>Roger Montgomery's Team</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2028</guid>
		<description><![CDATA[In this interview with Ross Greenwood on 2GB Money News, Roger Montgomery urges investors to embrace volatility and use times of such turbulence as an opportunity to acquire shares in extraordinary A1 companies at prices less than they’re worth. Listen to the Podcast.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/does-roger-montgomery-embrace-market-volatility/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/21_september_roger_montgomery_talks_value.able_value_investing_with_ross_greenwood_on_2gb.mp3" length="1987188" type="audio/mpeg" />
		</item>
		<item>
		<title>Is Roger Montgomery buying Cochlear?</title>
		<link>http://blog.rogermontgomery.com/is-roger-montgomery-buying-cochlear/</link>
		<comments>http://blog.rogermontgomery.com/is-roger-montgomery-buying-cochlear/#comments</comments>
		<pubDate>Wed, 14 Sep 2011 10:20:50 +0000</pubDate>
		<dc:creator>Roger Montgomery's Team</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2010</guid>
		<description><![CDATA[Cochlear (COH) is one of just a few Australian businesses that can be compared to the likes of Coca-Cola and Johnson &#38; Johnson. So when the company recently announced a recall of its market-leading product, the share market reacted. Does Roger Montgomery believe this is a once-in-a-lifetime opportunity to acquire shares in this extraordinary A1 [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/is-roger-montgomery-buying-cochlear/feed/</wfw:commentRss>
		<slash:comments>7</slash:comments>
		</item>
		<item>
		<title>Are Corporate Travel Mgt &amp; Hansen Roger Montgomery A1 companies?</title>
		<link>http://blog.rogermontgomery.com/are-corporate-travel-mgt-hansen-roger-montgomery-a1-companies/</link>
		<comments>http://blog.rogermontgomery.com/are-corporate-travel-mgt-hansen-roger-montgomery-a1-companies/#comments</comments>
		<pubDate>Wed, 14 Sep 2011 02:27:53 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2019</guid>
		<description><![CDATA[If Roger Montgomery had the opportunity to buy shares in Corportae Travel Management when it floated, he would have jumped at the opportunity. Today the intrinsic value of CTD is $1.58 and is forecast to rise to $1.90 over the next three years. Like Hansen Technologies (HSN), CTD achieves Roger Montgomery’s coveted A1 status. In [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-corporate-travel-mgt-hansen-roger-montgomery-a1-companies/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Value.able: Why Cochlear looks cheap</title>
		<link>http://blog.rogermontgomery.com/value-able-why-cochlear-looks-cheap/</link>
		<comments>http://blog.rogermontgomery.com/value-able-why-cochlear-looks-cheap/#comments</comments>
		<pubDate>Tue, 13 Sep 2011 23:43:14 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2004</guid>
		<description><![CDATA[Cochlear is one of the highest-quality companies listed on the ASX today. This week the recall of its flagship hearing device resulted in the subsequent slashing of the company’s share price, by almost 30 per cent in three days. Remember, during the GFC Cochlear shares fell from $78 to $44. In 2021 we won&#8217;t be thinking [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-why-cochlear-looks-cheap/feed/</wfw:commentRss>
		<slash:comments>32</slash:comments>
		</item>
		<item>
		<title>Leightons facing internal troubles</title>
		<link>http://blog.rogermontgomery.com/leightons-facing-internal-troubles/</link>
		<comments>http://blog.rogermontgomery.com/leightons-facing-internal-troubles/#comments</comments>
		<pubDate>Sun, 11 Sep 2011 08:57:03 +0000</pubDate>
		<dc:creator>Roger Montgomery's Team</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2032</guid>
		<description><![CDATA[Australia&#8217;s one-time construction champion, Leighton Holdings, is facing a share holder class action following the recent significant decline in the companies share price. In this interview with Alan Kohler, Roger Montgomery shares his insights into the declining economics of the Leightons business. Read the transcript
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/leightons-facing-internal-troubles/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Are these the best value stocks right now?</title>
		<link>http://blog.rogermontgomery.com/are-these-the-best-value-stocks-right-now/</link>
		<comments>http://blog.rogermontgomery.com/are-these-the-best-value-stocks-right-now/#comments</comments>
		<pubDate>Thu, 08 Sep 2011 11:02:43 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Market Valuation]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1997</guid>
		<description><![CDATA[With reporting season over, and armed with the Value.able mantra, how are you uncovering the very best stocks worthy of your attention?
Lifebuoy soap was once marketed as Floating Above the Rest. Are there any companies post reporting season doing the same?
While many of my peers believe 2012 could be a very difficult year for investors, [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/are-these-the-best-value-stocks-right-now/feed/</wfw:commentRss>
		<slash:comments>317</slash:comments>
		</item>
		<item>
		<title>What companies are on Roger Montgomery’s reporting season watch list?</title>
		<link>http://blog.rogermontgomery.com/what-companies-are-on-roger-montgomery%e2%80%99s-reporting-season-watch-list/</link>
		<comments>http://blog.rogermontgomery.com/what-companies-are-on-roger-montgomery%e2%80%99s-reporting-season-watch-list/#comments</comments>
		<pubDate>Thu, 08 Sep 2011 10:01:35 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2002</guid>
		<description><![CDATA[In this appearance on Switzer TV with Peter Switzer, Roger Montgomery searched through large caps, mid caps, small caps and micro caps to uncover a list of A1 and A2 businesses.  He then filtered out those companies who achieve a Return on Equity greater than 20 per cent, currently offer a safety margin greater [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-companies-are-on-roger-montgomery%e2%80%99s-reporting-season-watch-list/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Is Woolworths a good buy?</title>
		<link>http://blog.rogermontgomery.com/its-all-in-the-chart/</link>
		<comments>http://blog.rogermontgomery.com/its-all-in-the-chart/#comments</comments>
		<pubDate>Wed, 07 Sep 2011 08:02:16 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1990</guid>
		<description><![CDATA[If your strategy is to buy extraordinary businesses trading at discounts to intrinsic value, Woolworths offers the required combination. Roger Montgomery explains why Woolworths is a good buy. Read Roger&#8217;s article.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/its-all-in-the-chart/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
		</item>
		<item>
		<title>A 1700-word Value.able Book Extract</title>
		<link>http://blog.rogermontgomery.com/value-in-your-hand-2/</link>
		<comments>http://blog.rogermontgomery.com/value-in-your-hand-2/#comments</comments>
		<pubDate>Wed, 07 Sep 2011 03:53:07 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[In the Press]]></category>
		<category><![CDATA[Media Room]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1971</guid>
		<description><![CDATA[Money magazine published an edited extract from Roger Montgomery&#8217;s best-selling stock market guide book, Value.able. Read the extract then order your copy of Value.able at www.rogermontgomery.com.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-in-your-hand-2/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Thorough website research can keep investors safe</title>
		<link>http://blog.rogermontgomery.com/thorough-website-research-can-keep-investors-safe/</link>
		<comments>http://blog.rogermontgomery.com/thorough-website-research-can-keep-investors-safe/#comments</comments>
		<pubDate>Wed, 07 Sep 2011 03:33:30 +0000</pubDate>
		<dc:creator>Roger Montgomery's Team</dc:creator>
				<category><![CDATA[In the Press]]></category>
		<category><![CDATA[Media Room]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2009</guid>
		<description><![CDATA[Research on broking websites can often be crucial. Roger Montgomery says the research is useful, depending upon the investor&#8217;s experience. Read the article. 
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/thorough-website-research-can-keep-investors-safe/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Value.able: The Best Defence</title>
		<link>http://blog.rogermontgomery.com/value-able-the-best-defence/</link>
		<comments>http://blog.rogermontgomery.com/value-able-the-best-defence/#comments</comments>
		<pubDate>Tue, 06 Sep 2011 23:48:40 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1993</guid>
		<description><![CDATA[What is the definition of a defensive investment? Despite the tired and predictable answers you are likely to get from the advice industry, it’s a fascinating question to ponder at a time when many traditionally ‘safe’ investment choices are exceedingly unattractive. Roger Montgomery has spent some time thinking about this conundrum and has arrived at [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-the-best-defence/feed/</wfw:commentRss>
		<slash:comments>6</slash:comments>
		</item>
		<item>
		<title>Which A1 companies have caught Roger Montgomery’s Value.able eye?</title>
		<link>http://blog.rogermontgomery.com/which-a1-companies-have-caught-roger-montgomery%e2%80%99s-value-able-eye-2/</link>
		<comments>http://blog.rogermontgomery.com/which-a1-companies-have-caught-roger-montgomery%e2%80%99s-value-able-eye-2/#comments</comments>
		<pubDate>Tue, 06 Sep 2011 09:57:38 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1992</guid>
		<description><![CDATA[Reporting season is now over, presenting many new Value.able opportunities. Roger Montgomery reveals to Ross Greenwood which A1 companies have caught his eye this season. Listen to podcast.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/which-a1-companies-have-caught-roger-montgomery%e2%80%99s-value-able-eye-2/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/6_september_roger_montgomery_talks_value.able_investing_with_ross_greenwood_on_2GB.mp3" length="3539214" type="audio/mpeg" />
		</item>
		<item>
		<title>Survival of the fittest as companies refinance</title>
		<link>http://blog.rogermontgomery.com/survival-of-the-fittest-as-companies-refinance/</link>
		<comments>http://blog.rogermontgomery.com/survival-of-the-fittest-as-companies-refinance/#comments</comments>
		<pubDate>Tue, 06 Sep 2011 06:09:29 +0000</pubDate>
		<dc:creator>Roger Montgomery's Team</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=2029</guid>
		<description><![CDATA[Australian companies are facing a combined debt bill of around $100 billion. In this interview with David Taylor, Roger Montgomery shares his insights on the challenge faced by many companies who are attempting to refinance their debt, particularly in light of the recent turmoil on global financial markets. Listen to the Podcast
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/survival-of-the-fittest-as-companies-refinance/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/ABC/06_september_roger_montgomery_speaks_with_eleanor_hall_on_abc_radio_the_world_news.mp3" length="1828337" type="audio/mpeg" />
		</item>
		<item>
		<title>Your next-generation A1 invitation</title>
		<link>http://blog.rogermontgomery.com/your-next-generation-a1-invitation/</link>
		<comments>http://blog.rogermontgomery.com/your-next-generation-a1-invitation/#comments</comments>
		<pubDate>Tue, 06 Sep 2011 01:45:20 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1962</guid>
		<description><![CDATA[The time has arrived.
My team and I are delighted to invite Value.able Graduates to pre-register for Skaffold®, our next-generation A1 service.
Skaffold is the stock market like you’ve never seen it before – the world’s best visuals combined with its most reputable information and ideas.
Amazing, incredible, simple. That’s Skaffold.
Those who have already seen Skaffold called it [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/your-next-generation-a1-invitation/feed/</wfw:commentRss>
		<slash:comments>87</slash:comments>
		</item>
		<item>
		<title>Will Qantas be Taken Over?</title>
		<link>http://blog.rogermontgomery.com/will-qantas-be-taken-over/</link>
		<comments>http://blog.rogermontgomery.com/will-qantas-be-taken-over/#comments</comments>
		<pubDate>Thu, 01 Sep 2011 04:51:54 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Airlines]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Media]]></category>
		<category><![CDATA[Takeovers]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1949</guid>
		<description><![CDATA[Who would have thought a little comment at the end of my 17 August Value.able column for Alan Kohler’s Eureka Report on Qantas&#8217; strategic direction announcement would cause such a stir!
It appears I wasn&#8217;t the only Value.able Graduate wondering aloud about the coincidental timing of the strategic change of direction, coming as it did whilst [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/will-qantas-be-taken-over/feed/</wfw:commentRss>
		<slash:comments>39</slash:comments>
		</item>
		<item>
		<title>Value.able: The Makers</title>
		<link>http://blog.rogermontgomery.com/value-able-the-makers/</link>
		<comments>http://blog.rogermontgomery.com/value-able-the-makers/#comments</comments>
		<pubDate>Tue, 30 Aug 2011 23:41:56 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1953</guid>
		<description><![CDATA[Reports of the death of Australian manufacturing are greatly overstated. Roger Montgomery visits Australia&#8217;s unloved manufacturing sector and finds a group of thriving companies worth adding to your watchlist. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-the-makers/feed/</wfw:commentRss>
		<slash:comments>22</slash:comments>
		</item>
		<item>
		<title>Bega Cheese &#8211; what are Roger Montgomery’s thoughts?</title>
		<link>http://blog.rogermontgomery.com/bega-cheese-what-are-roger-montgomery%e2%80%99s-thoughts/</link>
		<comments>http://blog.rogermontgomery.com/bega-cheese-what-are-roger-montgomery%e2%80%99s-thoughts/#comments</comments>
		<pubDate>Tue, 30 Aug 2011 08:38:27 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1958</guid>
		<description><![CDATA[Floating a business in volatile times takes a big leap of faith. Bega Cheese (ASX:BGA) floated last month; issuing 127 million shares at $2 each, this raised $35 million which brought the companies value to $250million. In this interview with Ross Greenwood, Roger Montgomery shares his Value.able expert opinion on the future of Bega Cheese. [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/bega-cheese-what-are-roger-montgomery%e2%80%99s-thoughts/feed/</wfw:commentRss>
		<slash:comments>7</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/30_august_roger_montgomery_talks_value.able_investing_with_ross_greenwood_on_2GB.mp3" length="4399182" type="audio/mpeg" />
		</item>
		<item>
		<title>How much capital intensity does it take to sell seats?</title>
		<link>http://blog.rogermontgomery.com/how-much-capital-intensity-does-it-take-to-sell-seats/</link>
		<comments>http://blog.rogermontgomery.com/how-much-capital-intensity-does-it-take-to-sell-seats/#comments</comments>
		<pubDate>Tue, 30 Aug 2011 06:09:31 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Airlines]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1940</guid>
		<description><![CDATA[Did you know some of Qantas’ planes are more than twenty years old? And our estimate is that they fly, on average, 14 hours per day. The rest of the time they mimic that expensive bit of fashion in your garage, earning no income. That garage/hangar time has expensive ramifications for the economics of airlines, [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/how-much-capital-intensity-does-it-take-to-sell-seats/feed/</wfw:commentRss>
		<slash:comments>36</slash:comments>
		</item>
		<item>
		<title>Qantas chief says shareholders &#8216;better off in the bank&#8217;</title>
		<link>http://blog.rogermontgomery.com/qantas-chief-says-shareholders-better-off-in-the-bank-2/</link>
		<comments>http://blog.rogermontgomery.com/qantas-chief-says-shareholders-better-off-in-the-bank-2/#comments</comments>
		<pubDate>Fri, 26 Aug 2011 10:55:47 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1932</guid>
		<description><![CDATA[Qantas posted an underlying before-tax profit of more than $550 million, which is up almost 50 per cent on last year. However, while half a billion dollars may sound like a lot of money, Qantas Chief executive Alan Joyce says the airline&#8217;s profit is well short of where it needs to be to justify the [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/qantas-chief-says-shareholders-better-off-in-the-bank-2/feed/</wfw:commentRss>
		<slash:comments>5</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/Talks/qantas_says_profits_not_enough_to_cover_costs_of_planes_24_augutst_2011.mp3" length="2019578" type="audio/mpeg" />
		</item>
		<item>
		<title>Woolworths &#8211; what are Roger Montgomery&#8217;s thoughts?</title>
		<link>http://blog.rogermontgomery.com/woolworths-what-are-roger-montgomerys-thoughts/</link>
		<comments>http://blog.rogermontgomery.com/woolworths-what-are-roger-montgomerys-thoughts/#comments</comments>
		<pubDate>Thu, 25 Aug 2011 10:59:00 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1933</guid>
		<description><![CDATA[Following Woolworths latest results announcement, Roger Montgomery shares his insights on why Australia&#8217;s leading retailer failed to meet the markets expectations. Roger said &#8216;WOW is lowering their prices to drive profit growth, which is not sustainable or good for our country&#8217;. In this appearance on Switzer TV, Roger also highlights the key data points that [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/woolworths-what-are-roger-montgomerys-thoughts/feed/</wfw:commentRss>
		<slash:comments>22</slash:comments>
		</item>
		<item>
		<title>What has probing the reporting season avalanche revealed?</title>
		<link>http://blog.rogermontgomery.com/what-has-probing-the-reporting-avalanche-revealed/</link>
		<comments>http://blog.rogermontgomery.com/what-has-probing-the-reporting-avalanche-revealed/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 11:25:18 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Company Valuation]]></category>
		<category><![CDATA[Insightful Insights]]></category>
		<category><![CDATA[Value Investing]]></category>
		<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1913</guid>
		<description><![CDATA[With reporting season in full swing, I would like to share my insights into whose Quality Score has improved, and whose has deteriorated. Remember, none of this represents recommendations. It is intended to be educational only. You must seek and take personal professional advice before acting or transacting in any security.
To date, 232 companies have [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-has-probing-the-reporting-avalanche-revealed/feed/</wfw:commentRss>
		<slash:comments>164</slash:comments>
		</item>
		<item>
		<title>What are our thoughts on MCE&#8217;s results? And Big Air?</title>
		<link>http://blog.rogermontgomery.com/what-are-our-thoughts-on-mces-results-and-big-air/</link>
		<comments>http://blog.rogermontgomery.com/what-are-our-thoughts-on-mces-results-and-big-air/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 08:04:53 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[A1]]></category>
		<category><![CDATA[Blue Chips]]></category>
		<category><![CDATA[Financials]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Telecommunications]]></category>
		<category><![CDATA[Value Investing]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1909</guid>
		<description><![CDATA[
What is the value of a company that wakes up to find it has sold very little or even nothing in the last six months? My very long-term outlook for the price of oil hasn’t changed, but I can make the argument that the shares of Matrix C&#38;E cannot currently be valued as a going concern [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-are-our-thoughts-on-mces-results-and-big-air/feed/</wfw:commentRss>
		<slash:comments>176</slash:comments>
		</item>
		<item>
		<title>Value.able: Question Time</title>
		<link>http://blog.rogermontgomery.com/value-able-question-time/</link>
		<comments>http://blog.rogermontgomery.com/value-able-question-time/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 03:01:41 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Off the Press]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1920</guid>
		<description><![CDATA[Roger Montgomery heads back to Matrix to find out what happened to the share price and, more importantly, where it’s going. Read Roger&#8217;s article at www.eurekareport.com.au.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-question-time/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Qantas says profits not enough to cover cost of planes</title>
		<link>http://blog.rogermontgomery.com/qantas-says-profits-not-enough-to-cover-cost-of-planes-2/</link>
		<comments>http://blog.rogermontgomery.com/qantas-says-profits-not-enough-to-cover-cost-of-planes-2/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 00:59:07 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1946</guid>
		<description><![CDATA[Qantas has reported a $250 million profit just a week after announcing plans to lay off 1,000 workers. Roger Montgomery says the airline does have to change drastically to cover the soaring costs of new aircraft. Read the transcript.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/qantas-says-profits-not-enough-to-cover-cost-of-planes-2/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>What does Roger Montgomery think about Matrix?</title>
		<link>http://blog.rogermontgomery.com/what-does-roger-montgomery-think-about-matrix/</link>
		<comments>http://blog.rogermontgomery.com/what-does-roger-montgomery-think-about-matrix/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 10:17:24 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[Podcasts]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1930</guid>
		<description><![CDATA[In the height of reporting season, and following the announcement of the annual results from Matrix Composite &#38; Engineering (ASX:MCE), Roger Montgomery shares his insights and Value.able expert opinion with Ross Greenwood. Listen to podcast.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/what-does-roger-montgomery-think-about-matrix/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
<enclosure url="http://www.rogermontgomery.com/mp3/2GB/23_august_2011_roger_montgomery_talks_value.able_investing_with_ross_greenwood_on_2GB.mp3" length="4732974" type="audio/mpeg" />
		</item>
		<item>
		<title>Value.able TV #5: When should you sell (Part II)?</title>
		<link>http://blog.rogermontgomery.com/value-able-tv-5-when-should-you-sell-part-ii/</link>
		<comments>http://blog.rogermontgomery.com/value-able-tv-5-when-should-you-sell-part-ii/#comments</comments>
		<pubDate>Fri, 19 Aug 2011 09:11:03 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1898</guid>
		<description><![CDATA[When to sell Rule #1 is: No junk policy. In the second part of Roger’s selling mini-series, he identifies Rule #2: Expensive.

While market declines alone don&#8217;t prove merit in selling shares, the broad declines do suggest a disciplined approach to shares significantly above an estimate of intrinsic value is necessary. For me, if the businesses [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/value-able-tv-5-when-should-you-sell-part-ii/feed/</wfw:commentRss>
		<slash:comments>126</slash:comments>
		</item>
		<item>
		<title>Qantas looks to Asia for international future</title>
		<link>http://blog.rogermontgomery.com/qantas-looks-to-asia-for-international-future/</link>
		<comments>http://blog.rogermontgomery.com/qantas-looks-to-asia-for-international-future/#comments</comments>
		<pubDate>Wed, 17 Aug 2011 09:10:47 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[In the Press]]></category>
		<category><![CDATA[Media Room]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1892</guid>
		<description><![CDATA[Qantas is planning to drastically cut costs by forming two new airlines and cutting 1,000 jobs in Australia. Roger Montgomery reveals his thoughts on Qantas. Read the transcript.
]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/qantas-looks-to-asia-for-international-future/feed/</wfw:commentRss>
		<slash:comments>34</slash:comments>
		</item>
		<item>
		<title>Why are we Celebrating?</title>
		<link>http://blog.rogermontgomery.com/why-are-we-celebrating/</link>
		<comments>http://blog.rogermontgomery.com/why-are-we-celebrating/#comments</comments>
		<pubDate>Wed, 17 Aug 2011 07:35:45 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Value.able]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1888</guid>
		<description><![CDATA[Congratulations are in order at our office.
Not to Forge or ARB for their full year results released today but to Chris B. our resident Albert Einstein, data integrity guru and valuation formula genius. Chris became a CFA today.
Well done Chris.
Thanks for all your hard work and keep it up &#8211; its working! Just look at [...]]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/why-are-we-celebrating/feed/</wfw:commentRss>
		<slash:comments>93</slash:comments>
		</item>
		<item>
		<title>MMS, ANN, TSM, TGA, GNG, TNE and SLR: What are Roger Montgomery’s Value.able insights?</title>
		<link>http://blog.rogermontgomery.com/mms-ann-tsm-tga-gng-tne-and-slr-what-are-roger-montgomery%e2%80%99s-value-able-insights/</link>
		<comments>http://blog.rogermontgomery.com/mms-ann-tsm-tga-gng-tne-and-slr-what-are-roger-montgomery%e2%80%99s-value-able-insights/#comments</comments>
		<pubDate>Wed, 17 Aug 2011 03:26:14 +0000</pubDate>
		<dc:creator>Roger Montgomery</dc:creator>
				<category><![CDATA[Media Room]]></category>
		<category><![CDATA[On TV]]></category>

		<guid isPermaLink="false">http://blog.rogermontgomery.com/?p=1938</guid>
		<description><![CDATA[In this appearance on Your Money Your Call, Roger Montgomery answers viewer questions on McMillan Shakespeare (ASX:MMS),  Ansell (ASX:ANN) Think Smart (ASX:TSM), Thorn Group (ASX:TGA), GR Engineering (ASX:GNG) and Technology One (ASX:TNE). Roger also reveals which gold stock continues to attract his Value.able eye? Watch the interview.


]]></description>
		<wfw:commentRss>http://blog.rogermontgomery.com/mms-ann-tsm-tga-gng-tne-and-slr-what-are-roger-montgomery%e2%80%99s-value-able-insights/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

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