Update from the PMs – January 2024
2023 was an extraordinary year characterized by stock returns that were okay for the many (the median stock in the S&P 500 returned 12.7% in 2023), and extraordinary for the few (one stock in eight from the S&P 500 returned 50% or more). Montaka was fortunate to own many of the extraordinary performers in 2023.
Update from the PMs – December 2023
Why we believe the future will look different to the past. Why there will be more divergence between winners and losers. And why we believe Montaka’s analysis of evolving global dynamics will continue to be of service to clients. Gain valuable insights into our outlook by reading our Quarterly Update.
Update from the PMs – November 2023
Why we believe the future will look different to the past. Why there will be more divergence between winners and losers. And why we believe Montaka’s analysis of evolving global dynamics will continue to be of service to clients. Gain valuable insights into our outlook by reading our Quarterly Update.
Quarterly Letter: Q3 2023
Why we believe the future will look different to the past. Why there will be more divergence between winners and losers. And why we believe Montaka’s analysis of evolving global dynamics will continue to be of service to clients. Gain valuable insights into our outlook by reading our Quarterly Update.
Quarterly Letter: Q2 2023
In the first half of 2023, the economy, stock market, and Montaka’s portfolio have exceeded expectations. The portfolio’s appreciation led to questions about selling top performers, but we remain steadfast. Read on for insights on resilient stocks, our strategic holdings, and future outlook.
Where to from here after this year’s big rally?
While stock prices of some of the world’s best companies are up a lot this year, they are only just getting back to where they were at the beginning of last year. Don’t be tempted to sell your big tech stocks just yet—this article explains why the recent rally is just the beginning of an extraordinary journey for these companies and their investors.
The AI Revolution: Addressing 10 Vital Questions for Investors
Explore the critical implications of AI, from its revolutionary potential to economic effects, resultant winners and losers in the stock market, and the need for businesses to adapt, in this informative Q&A session with our CIO Andrew Macken.
Quarterly Letter: Q1 2023
As the saying goes: there are decades where little happens, and there are weeks where decades happen. The weeks of Q1 2023 fell squarely into the latter category. Our letter reflects on the consequences of the rapid monetary tightening, the recent collapse of banks and declining retail spending. The letter also discusses the launch of OpenAI’s latest AI model, GPT-4.
3 market myths that threaten to derail investors’ long-term wealth
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.
Why this market would freak out a Martian
Three examples of stocks in the reopening, defensive and mega tech narratives highlight a market that would baffle a rational Martian.