Month: October 2017

Overconfidence and subjective probabilities

Investing involves the application of imperfect information to subjective probability assessments in a complex, multivariable system. Successful investing requires the investor to be both different and right more often than not in his or her probability assessments. In an ideal world, we would train (“calibrate”) our forecasting skills by making a high number of subjective …

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What does Lord King have to say?

This week, we had the privilege of listening to a Q&A session with Lord Mervyn King. Lord King is obviously a highly-intelligent and enormously experienced global economist – having governed the Bank of England for the ten-year period ending in July 2013. For readers who are interested, we share some of Lord King’s views below.

Can quality be detrimental to your investment returns?

In the school of value investing, there are two broad investment styles: the deep value style espoused by Ben Graham, Philip Fisher and the young Warren Buffett; and the quality-biased style for which Charlie Munger and the old Warren Buffett are best known. Some investors will favour one style over the other, while other investors …

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Could lower fees ever be bad for investors?

A topic of considerable interest in investing circles today is the current boom in indexation and low-fee passive investing. It is certainly worth thinking about given the global exchange traded fund (ETF) space has grown to more than US$4 trillion, according to data provider ETFGI. A lot of thought-provoking work on the space is currently …

Could lower fees ever be bad for investors? Read More »

Our Montaka Long Only funds strive to act as a core, high conviction, global portfolio holding. Consistent with the long portfolios in our Montaka Variable Net funds, this offering is focused on owning the world’s high quality, undervalued businesses – and cash when appropriate – to outperform its benchmark.

Our Montaka Active Extension funds strive for maximised return over the long-term. Owning the Montaka Variable Net long portfolio typically scaled up to approximately 130 percent - and the Montaka Variable Net short portfolio typically scaled down to approximately 30 percent – this these funds results in a net market exposure of approximately 100 percent most of the time.

Our Montaka variable net funds strive for significant downside protection – but with minimal upside reduction. Focused on owning the world’s great and growing businesses when they are undervalued, while managing a portfolio of short positions in businesses that are deteriorating, misperceived, and overvalued, this these funds are our flagship long-short.

Our
Funds

Our Funds

Our Montaka Long Only funds strive to act as a core, high conviction, global portfolio holding. Consistent with the long portfolios in our Montaka Variable Net funds, this offering is focused on owning the world’s high quality, undervalued businesses – and cash when appropriate – to outperform its benchmark.

Our Montaka Active Extension funds strive for maximised return over the long-term. Owning the Montaka Variable Net long portfolio typically scaled up to approximately 130 percent - and the Montaka Variable Net short portfolio typically scaled down to approximately 30 percent – this these funds results in a net market exposure of approximately 100 percent most of the time.

Our Montaka variable net funds strive for significant downside protection – but with minimal upside reduction. Focused on owning the world’s great and growing businesses when they are undervalued, while managing a portfolio of short positions in businesses that are deteriorating, misperceived, and overvalued, this these funds are our flagship long-short.