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.
How the hyperscalers – Microsoft, Amazon & Alphabet – will profit from the AI boom
Learn how they are democratizing AI with their ML models, creating a virtuous cycle that drives and dominates the surging demand for compute and storage. Find out about the opportunity that lies ahead for today’s leading hyperscalers and why owning these businesses is a sure way to win from the AI revolution.
Microsoft: Owner of the railroads for the 4th industrial revolution
As a foundation member and leader in the hyperscaler oligopoly, Microsoft has laid the ‘railway track’ for distributed compute infrastructure across the world and will benefit as surging demand for AI-enabled software ignites compute intensity.
The new ‘Cola wars’: Why Microsoft really launched its search war against Google
Microsoft’s recent launch of AI-powered Bing search engine and Edge web browser could be about much more than just web search. This move could be a way of forcing Google owner Alphabet to help accelerate the proliferation of AI, which would potentially benefit Microsoft which can sell more of the cloud computing and enterprise software that power AI.
Why Buffett is Buying: 3 perspectives that show stocks are still cheap
In this article, we will explore the investing environment that led the legendary investor Warren Buffet to purchase more stocks in 2022 than in the previous 15 years combined. Despite the popular belief that stocks are expensive and corporate bonds are cheap, Amit Nath, the Director of Research at Montaka, presents three vital valuation perspectives that contradict this notion. These include the Equity Risk Premium (ERP), Corporate bond spreads, and how to measure them with the help of NYU professor Aswath Damodaran.
Whitepaper: Why reports of tech’s death are greatly exaggerated
After the 2022 tech crash, many investors have written the sector off. But in our new whitepaper we outline how the tech sector is about to enter a new phase of growth and dominance, fuelled by innovation and AI. And that has thrown up some remarkable opportunities to buy tech winners that will deliver superior long-term compound returns.
Why the market is forgetting the remarkable long-term strength of S&P Global’s business model
Discover the remarkable long-term strength of S&P Global’s business model. Learn it’s a great entry point for investors looking for a high-quality compounder.
Montaka’s 5 stand-out podcasts of 2022
We share the five podcasts from Montaka that stood out for us in 2022 and make for great listening.
Montaka Monocle’s 5 most important essays of 2022
In this article, we curate five essays from Montaka that are both interesting and important for investors. They contain important information, insights and lessons as we head into 2023.
5 reasons why Montaka’s portfolio is valuable
As we step into 2023, it’s a good time to step back and share 5 vital reasons why Montaka’s portfolio is a valuable addition to the portfolios of clients – and of our own.
