Market will remain ‘difficult’ to predict on a day-to-day basis

Montgomery Investment Management founder Roger Montgomery says he thinks the market will remain “volatile and difficult” to predict on a day-to-day basis.

Mr Montgomery said this is because it is “really, difficult” to “discern what earnings growth is going to be for a lot of companies”. “A lot of companies have benefitted from what we call the COVID pull-through, so there’s a lot of COVID-related demand that was brought forward, think second-hand cars and houses,” he told Sky News Business Editor Ross Greenwood.

“So businesses are really, really, finding it difficult themselves to forecast what earning’s going to be.”

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