Investment legend James Anderson said something interesting: that an investor today needed to read not just Buffett’s words, but also the shareholder letters of Amazon founder, Jeff Bezos. I took note of Anderson’s tip and immersed myself in Bezos’s shareholder letters, getting inside the great man’s thinking, and here’s what I learnt.
We continue to believe that the stock market offers materially better value than bonds, in general today. And this belief is based on detailed, ‘first-principles’ analysis. Though many stocks are overvalued today, some are still materially undervalued.
Given its opacity and difficulty to understand from an outsider’s perspective, culture is often underrated within investment firms. But at Montaka we believe culture is one of the most vital components in delivering superior long-term investment returns.
Three examples of stocks in the reopening, defensive and mega tech narratives highlight a market that would baffle a rational Martian.
In today’s high-gratification world, it is natural for investors to chase these intellectual hits and gravitate towards sources of new themes. The only problem is, it remains far from clear if these new themes are even themes at all.
When you look at a multiple, it may seem high at first glance. But it is essential to focus beyond this and understand the underlying business, its growth opportunities and what current market expectations imply. Certainly, a high multiple can be a red flag for overvaluation. However, you cannot draw any real conclusions from that multiple in isolation.
Zenith initiated coverage and placed Recommended ratings on the Montaka Global Extension Fund (ASX: MKAX) and the Montaka Global Long Only
Equities Fund (ASX: MOGL).
Blackstone – the alternative asset management firm stands at the edge of an incoming, multi-decade, secular inflection across asset management. What makes us believe that Investors have a window of opportunity with Blackstone right now? Read on to know our analysis.
Many investors are now asking: is China too risky for foreign investors? We feel the answer lies in not avoiding China. But to invest in China properly. Read Montaka’s 5 steps to profiting in China.
Investors shouldn’t rotate out of mega-tech to value because mega-tech are value… Our analysis shows that mega-tech stocks not only offer some of the best growth opportunities, but also offer some of the best ‘value’ opportunities in the market today
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