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In this week's video insight, Andrew Macken discusses the three main sources of quality to consider when evaluating whether a business is investment-worthy.

We are investors. We are not speculators. We approach the stock market not as a venue for trading stocks - placing bets on prices moving up or down, but as a venue to purchase small pieces of businesses with the power to grow their worth over time. Investing with Montgomery requires a rejection of conventional attitudes towards the stock market and short-term measurement. Our philosophy is appropriate for the patient investor. A qualifying company should display superior economics, bright prospects, and be available for purchase below our estimate of its intrinsic value.
Fortunately, the bipolar nature of the stock market ensures the reliable delivery of these opportunities to the patient investor. If few or no attractive investment opportunities are available, we have the flexibility to protect your capital by moving a significant proportion of funds into the safety of cash. This is a feature rarely found among larger, more conventional fund managers, and one created especially for investors concerned more with the return of their money, rather than the return on their money. Investment decisions are based on individual company merits and the price at which they are available for purchase or sale. Macroeconomics and tax play smaller roles in investment decision-making than the protection of capital from permanent impairment. Visit the Montgomery Investment Management team's blog at http://www.rogermontgomery.com

Published on 08 May 14

  • In this week's video insight, Andrew Macken discusses the three main sources of quality to consider when evaluating whether a business is investment-worthy.

    We are investors. We are not speculators. We approach the stock market not as a venue for trading stocks - placing bets on prices moving up or down, but as a venue to purchase small pieces of businesses with the power to grow their worth over time. Investing with Montgomery requires a rejection of conventional attitudes towards the stock market and short-term measurement. Our philosophy is appropriate for the patient investor. A qualifying company should display superior economics, bright prospects, and be available for purchase below our estimate of its intrinsic value.
    Fortunately, the bipolar nature of the stock market ensures the reliable delivery of these opportunities to the patient investor. If few or no attractive investment opportunities are available, we have the flexibility to protect your capital by moving a significant proportion of funds into the safety of cash. This is a feature rarely found among larger, more conventional fund managers, and one created especially for investors concerned more with the return of their money, rather than the return on their money. Investment decisions are based on individual company merits and the price at which they are available for purchase or sale. Macroeconomics and tax play smaller roles in investment decision-making than the protection of capital from permanent impairment. Visit the Montgomery Investment Management team's blog at http://www.rogermontgomery.com

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