Update from the PM – April 2026
Short-term volatility in stock prices is never pleasant. But the good news is that we believe this volatility is creating significant investment opportunities. This becomes clear when we perform detailed bottom-up analysis of several competitively advantaged businesses and we find their earnings power remains strong.
Update from the PM – March 2026
The SaaS-pocalypse dominated February, but Andy explains why market fears miss three critical realities about enterprise software, AI capabilities, and power constraints. Learn why Montaka sees exceptional value in current dislocations and expects rapid re-rating when fundamentals prevail.
Update from the PM – February 2026
2026’s extraordinary start—featuring armed intervention in Venezuela, NATO rifts over Greenland, historic Japanese bond yield spikes, and a precious metals bubble- signals a new era of geopolitical instability. We also cover why the enterprise software sell-off misses the critical value of distribution and orchestration.
Update from the PM – January 2026
This update also includes Montaka’s Summer Investing Guide for 2026- featuring three selected essays from 2025, a recent podcast, and a book recommendation. Perfect preparation for the year ahead.
Update from the PM – December 2025
Volatility returned in Nov: Bitcoin -20%, S&P 500 -5%, Tech down while Healthcare & Energy surged. Amid the noise, Alphabet soared +14% on Gemini 3’s AI breakthrough. Bubble fears? We break them down.
Update from the PM – November 2025
Earnings season is here: Meta & Blackstone show strong fundamentals, yet stocks dip on short-term narratives. Do short-term moves matter when long-term AI-driven growth is clear?
Update from the PM – October 2025
Global equity markets are more complex than ever—traditional metrics like P/E ratios can mislead in a world of rapid change. First-principles thinking is key to spotting real opportunities.
Update from the PM – September 2025
As AI makes novel discoveries, facts become outdated much faster. As investors, we will need to adapt even faster to uncover the many mispricings (i.e. opportunities) that will result from this new reality.
Update from the PM – August 2025
Despite the unbelievable rate of technological advancement, we continue to believe that investment analysis anchored in first principles – the importance of durable competitive advantages, understanding flywheels, and maintaining price/value discipline.
Update from the PMs – July 2025
As Montaka marks its 10-year anniversary, we reflect on the enduring value of flywheel businesses—those that share economics with customers to drive compounding growth.