Month: September 2018

The Collision of Fundamentals and Technicals: New GICS Sector Definitions

Fundamental bottom-up investors like ourselves generally steer clear of technical indicators as they often lay diametrically opposite to our value investing framework (i.e. top-down, short-term, algorithmic, etc.). However, significant changes to the Global Industry Classification Standard (GICS), one of the most widely used frameworks to delineate sectors, will come into effect on Friday, September 28, 2018 and is worth reviewing given several names …

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Are asymmetric downside risks forming at Campbell Soup?

Friends and followers of Montaka will be aware that we follow a unique framework to identify great short investment candidates. One of the four criteria that we look for is “asymmetries”, or asymmetric downside risks in a business or stock that are necessarily severe in impact and without counterbalancing upside potential. Recently, we think there …

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The Subconscious Mind is Not Always Our Friend

Human beings have evolved over thousands of years and while many of our automatic behaviors (“system 1”) were fundamental in keeping us alive, they can impair some of our cognitive reasoning (“system 2”) functions in the modern world. While much has been written on this topic and we sight Nobel laureate, Daniel Kahneman’s excellent work …

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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.