Roger Montgomery, founder and Chief Investment Officer at Montgomery Investment Management, looks back at the forces that drove markets in 2025 — from the AI boom to the “great broadening” beyond US megacaps.

He talks to Sean Aylmer about the bull and bear cases for US equities in 2026, why the US dollar matters for Australian investors, and where diversification may make sense as volatility returns.

For more information, visit www.montinvest.com or call 02 8046 5000.
Follow Roger’s insights at www.rogermontgomery.com

Montgomery Investment Management is a supporter of Fear + Greed. Seek professional advice tailored to your circumstances before making investment decisions.

Roger Montgomery, founder and Chief Investment Officer at Montgomery Investment Management, looks back at the forces that drove markets in 2025 &mdash; from the AI boom to the &ldquo;great broadening&rdquo; beyond US megacaps. He talks to Sean Aylmer about the bull and bear cases for US equities in 2026, why the US dollar matters for Australian investors, and where diversification may make sense as volatility returns. For more information, visit&nbsp;<a href="http://www.montinvest.com/">www.montinvest.com</a>&nbsp;or call 02 8046 5000. Follow Roger&rsquo;s insights at&nbsp;<a href="http://www.rogermontgomery.com/">www.rogermontgomery.com</a> Montgomery Investment Management is a supporter of Fear + Greed. Seek professional advice tailored to your circumstances before making investment decisions.

Business news you can use. A daily business news podcast with journalists Sean Aylmer and Michael Thompson. Find out more at https://fearandgreed.com.au

Business news you can use. A daily business news podcast with journalists <a href="https://www.linkedin.com/in/sean-aylmer-9922068/" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/in/sean-aylmer-9922068/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw0wu3ezGEfBZFYspJbTTaYL">Sean Aylmer</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/in/mcwthompson/" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/in/mcwthompson/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw08pZ8jZ88rHJgCfbHkTr5k">Michael Thompson</a>.&nbsp;Find out more at&nbsp;<a href="https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain=fearandgreed.com.au/" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain%3Dfearandgreed.com.au/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw1DLq_FuqjEt3HC-ZK1704H">https://fearandgreed.com.au</a>

Fear and Greed is Australia's most popular business podcast.

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Fear & Greed Q+A

Daily business news for people who make their own decisions, with business journalist Sean Aylmer and Michael Thompson. Find out more at https://fearandgreed.com.au

Daily business news for people who make their own decisions, with business journalist <a href="https://www.linkedin.com/in/sean-aylmer-9922068/">Sean Aylmer</a> and <a href="https://www.linkedin.com/in/mcwthompson/">Michael Thompson</a>. Find out more at <a href="https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain=fearandgreed.com.au/">https://fearandgreed.com.au</a>

Q+A: The bull and bear cases for equities in 2026

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/3d2b592e-821f-4c63-a3d0-b3e500bd1162/transcript

Tuesday 3 February 2026

The federal Liberals and Nationals in talks to reform the Coalition just as parliament resumes for the year. 
Competition in home lending heats up just as interest rates are set to rise 
The boss of Corporate Travel Management resigns five months after the company said it can’t sign off its annual accounts. 
The rest of the world pushes to follow Australia’s social media ban for kids
Melania, the documentary, about the First Lady Melania Trump, fails to set the box office alight

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And don’t miss the latest episode of How Do They Afford That? - this week, inside the Frugal February challenge. Get the episode from APPLE, SPOTIFY, or anywhere you listen to podcasts.

Tuesday 3 February 2026
The federal Liberals and Nationals in talks to reform the Coalition just as parliament resumes for the year.&nbsp;
<ul>
<li aria-level="1">Competition in home lending heats up just as interest rates are set to rise&nbsp;</li>
<li aria-level="1">The boss of Corporate Travel Management resigns five months after the company said it can&rsquo;t sign off its annual accounts.&nbsp;</li>
<li aria-level="1">The rest of the world pushes to follow Australia&rsquo;s social media ban for kids</li>
<li aria-level="1">Melania, the documentary, about the First Lady Melania Trump, fails to set the box office alight</li>
</ul>
Join our<a href="https://fearandgreed.com.au/newsletter-signup"> free daily newsletter here</a>.
And don&rsquo;t miss the latest episode of<a href="https://fearandgreed.com.au/how-do-they-afford-that-sugar-mamma-canna-campbell/"> How Do They Afford That?</a> - this week, inside the Frugal February challenge. Get the episode from<a href="https://podcasts.apple.com/au/podcast/how-do-they-afford-that/id1644255235"> APPLE</a>,<a href="https://open.spotify.com/show/1EW5WRlRh7MovSBNkk6dG8?si=b2203ec2fa934a14"> SPOTIFY</a>, or anywhere you listen to podcasts.

Libs-Nats in talks to reunite; mortgage competition heats up; Melania doco flops

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/a795d9bc-982b-452f-a2f2-b3e500bd13ce/transcript

This is the Fear and Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.


ASX loses 1pc as gold slides


Bitcoin tumbles


Littleproud survives challenge


Economy airfare wars


Grammy protests

Join our free daily newsletter here.

This is the&nbsp;<a href="https://fearandgreed.com.au/">Fear and Greed</a> Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.
<ol>
<li>
ASX loses 1pc as gold slides
</li>
<li>
Bitcoin tumbles
</li>
<li>
Littleproud survives challenge
</li>
<li>
Economy airfare wars
</li>
<li>
Grammy protests
</li>
</ol>
Join our <a href="https://fearandgreed.com.au/newsletter-signup">free daily newsletter here</a>.

Afternoon Report | ASX down 1pc

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/0f15d050-db7d-435d-a7f9-b3e50062b135/transcript

Monday 2 February 2026

The housing market starts the new year with a bang, with a pick-up in both prices and successful auctions.
The RBA convenes today and tomorrow to deliberate on interest rates, and markets reckon there will be a rate hike tomorrow
The crisis in the federal coalition gets worse with polling showing Pauline Hanson is now the country’s most popular politician 
The prices of gold, silver and Bitcoin tumble after US President Donald Trump announces his pick for Fed chair. 
The latest Epstein email releases capture leading business figures, including Bill Gates and Elon Musk.

Join our free daily newsletter here.

And don’t miss the latest episode of How Do They Afford That? - this week, inside the Frugal February challenge. Get the episode from APPLE, SPOTIFY, or anywhere you listen to podcasts.

Monday 2 February 2026
The housing market starts the new year with a bang, with a pick-up in both prices and successful auctions.
<ul>
<li aria-level="1">The RBA convenes today and tomorrow to deliberate on interest rates, and markets reckon there will be a rate hike tomorrow</li>
<li aria-level="1">The crisis in the federal coalition gets worse with polling showing Pauline Hanson is now the country&rsquo;s most popular politician&nbsp;</li>
<li aria-level="1">The prices of gold, silver and Bitcoin tumble after US President Donald Trump announces his pick for Fed chair.&nbsp;</li>
<li aria-level="1">The latest Epstein email releases capture leading business figures, including Bill Gates and Elon Musk.</li>
</ul>
Join our<a href="https://fearandgreed.com.au/newsletter-signup"> free daily newsletter here</a>.
And don&rsquo;t miss the latest episode of<a href="https://fearandgreed.com.au/how-do-they-afford-that-sugar-mamma-canna-campbell/"> How Do They Afford That?</a> - this week, inside the Frugal February challenge. Get the episode from<a href="https://podcasts.apple.com/au/podcast/how-do-they-afford-that/id1644255235"> APPLE</a>,<a href="https://open.spotify.com/show/1EW5WRlRh7MovSBNkk6dG8?si=b2203ec2fa934a14"> SPOTIFY</a>, or anywhere you listen to podcasts.

Housing starts with a bang; gold, silver, Bitcoin tumble; Epstein captures Gates, Musk

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/a151e65a-b2db-4ac1-a0b4-b3e400b4553d/transcript

Q+A: The bull and bear cases for equities in 2026

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