Will Your Multiple Compress?
Investment returns, in the long run, are dictated by two factors: earnings growth and changes in the earnings multiple. Many high-flying businesses today are trading at exorbitant multiples. What are the implications of this for long-run annual returns for those stocks?
Applying the Connor Leonard Framework
Value investor Connor Leonard successfully filters business opportunities into four subsets. We explore Reinvestment Moats – entrenched flywheels where management can redeploy capital at high incremental rates of return.
Evolution of the luxury goods resale market
Exploring why the luxury resale market is growing four times faster than the overall luxury industry and the evolving interactions between brands and marketplaces.
More inequality. More grievances. More debts.
We believe inequality will only become more extreme, with Covid-19 accelerating a number of the dynamics in our economic system that give rise to inequality. And growing inequality will feedback into our economic system in two key ways: more grievances and more debts.
A look inside Montaka’s portfolio
An excerpt from our Montaka Monocle which looks inside our portfolio to show you what businesses we own and why we own them. In this blog you’ll see highlights from the most recent reporting season for our major holdings.
Insurance and Private Equity Go Hand-in-Hand Pt.2
An exploration of the structural drivers causing Insurance providers to abandon their legacy liabilities and why we expect to see many more alternative asset manager transactions.
What is the Metaverse?
The vision for the Metaverse is that humans will increasingly live in a growing collection of spaces – both physical and digital – that mesh together seamlessly. Similarly, our social lives will increasingly span the physical and real-time 3D digital realms, as will our economy.
Apple Overplayed Its Hand
We have written in the past about Apple’s upcoming App Tracking Transparency (ATT) changes and their impact on ad publishers. In recent days, information has emerged that throws a spanner in the works for Apple’s plan.
A Bubble? Other Ways to See Market Value
The idea that we are in a market bubble is repeated constantly. Both public and private tech companies have been raising money at incredible valuations. Read on to know our take on whether this bubble exists.
Online Marketplaces: Great Internet Enabled Business Models
The most durable, self-sustaining and valuable marketplaces connect consumers, suppliers and realign themselves as the clearinghouse in a transaction, reducing friction and increasing scale for both sides. We look at some key characteristics of successful online marketplace models.
