Montaka’s newest portfolio addition: Unity Software
Unity Software is the undisputed global leader in mobile gaming. Games made with Unity’s engine account for 71% of the top 1,000 mobile games (Q4 of 2020). Read on to know why we think Unity offers a great investment opportunity.
Executing a Disruptive Vision
Contrary to popular mythology, technological disruption very rarely happens in a singular flash of brilliance. The image of a disheveled, genius tech founder, manically coding a brilliant new idea in a garage, has a disruptive vision, and lays waste to incumbent operators is a romantic notion. But unfortunately, it’s rarely true.
In the Midst of an Historic Reallocation?
Over the last 12 months we have borne witness to one of the most significant portfolio reallocations of modern times. Investors have sold ~US$250bn of global equity funds and bought ~US$780bn of bond funds (inc money market). Looking at the difference between equity and bond flows (i.e. equity flows minus bonds flows), implies over US$1 […]
Look for Businesses That Get More Than Their Fair Share
Peter Lynch, the legendary investor, once quipped that it’s best to invest in businesses that any idiot could run, because sooner or later one will. This begs the question of what drives the economic returns of businesses: is it the competitive forces of that industry or the skill of management? It’s likely a combination of […]
Welcome Amit Nath
We are proud to announce the commencement of a new Montaka research team member, Amit Nath. Amit joins Montaka’s New York office as a Senior Research Analyst. Amit joins us after spending seven years as a credit analyst at Credit Agricole and Citigroup, based in New York. Prior to this, Amit was an investment banker […]
Goodbye 2017
Investing legend, Seth Klarman, recently wrote that: “When the market reverses, dormant advantages conferred by analytical edge, discipline, thoughtful hedging, a sourcing network, team building and process improvement are restored.” We have no idea if or when the market will reverse, but we continue to work hard to strengthen these “dormant advantages” to which Klarman […]
The Hidden Value of Low Correlation
We recently wrote about the reward-per-unit-of-risk ratio. Ultimately, investing is entirely concerned with generating reward-per-unit-of-risk taken. And there are two obvious ways to boost this ratio: Boost the numerator: that is, identify skilful managers who implement sound investment process with extreme discipline; and/or Reduce the denominator. But how does one reduce the denominator? Well, there […]
Happy holidays and Merry Christmas
As we round out 2016, the Montaka team would like to thank all of our clients and readers for your support this year. It is our privilege to be working very hard for you and we are grateful and humbled by the opportunity we have to preserve and grow your wealth. We are looking forward […]
Does Montaka play well with others?
It can be hard enough to identify a skilled fund manager who follows a logical investment process with the utmost discipline, integrity and transparency. But when you do find one, the next question, of course, is: how does this new manager complement my existing portfolio? There are a number of aspects to being complementary. It […]
Welcome Daniel
This month the Montaka team welcomed a new Research Analyst by the name of Daniel Wu. Daniel is an extremely sharp financial analyst with previous experience at Goldman Sachs and UBS in their investment banking division. Daniel’s formal education was completed at the University of Sydney from which Daniel graduated with a Bachelor of Commerce […]
