In retail, it pays to be discerning
Many who had predicted the demise of brick-and-mortar retail stores due to competition from online retailers such as Amazon have been left with mixed results. Indeed, online competition has permanently changed the retail landscape and forced brick-and-mortar retailers to react with their own online offerings. However, there are still pockets of the retail space that […]
What is “selective diversification”?
Readers of this blog will already be aware that we like to keep an eye on credit markets to help inform our views on equity markets, business qualities and prospects. Credit markets often provide leading indicators to impending changes in equity markets. The Wall Street Journal recently noted some deterioration in the credit quality of […]
Is Apple a one-hit wonder?
To outperform in the equity markets, you need to take a different view to the market – and you need to be right. So one should be very clear about where their view differs to the expectations that are implied by any given stock price. That is, always be clear about your source of “variant […]
Amex
The iconic American Express Centurion Card, made from anodized titanium, etched by laser, with limitless spending capability and dedicated concierge service commands a premium annual fee that runs in the thousands and has remained elusive for all but the privileged few individuals. So it is with great irony that American Express shares are currently trading […]
The Montaka research process
Andrew discusses the scalable and repeatable research process that underpins every investment made at Montaka.
