What’s next vs what it’s worth
During periods of uncertainty, investors often default to first-order thinking and overweight what’s next. In these environments, attractive opportunities can be found by remaining focused on what a business is worth.
Montaka’s newest portfolio addition: Unity Software
Unity Software is the undisputed global leader in mobile gaming. Games made with Unity’s engine account for 71% of the top 1,000 mobile games (Q4 of 2020). Read on to know why we think Unity offers a great investment opportunity.
Executing a Disruptive Vision
Contrary to popular mythology, technological disruption very rarely happens in a singular flash of brilliance. The image of a disheveled, genius tech founder, manically coding a brilliant new idea in a garage, has a disruptive vision, and lays waste to incumbent operators is a romantic notion. But unfortunately, it’s rarely true.
Liquidity begets liquidity: CME Group
Derivatives exchanges are becoming increasingly important in global markets today. In this article, we examine factors contributing to CME group’s privileged position and whether it can be classified as a monopoly.
The stock Chris Demasi is quietly excited about
In this article for the AFR, Chris Demasi answers seven questions by Vesna Poljak on topics ranging from a stock he is excited about to where you can find a good VFM pasta in Sydney! Read on to know more.
Can high profit margins hurt?
Much has been written about Kraft Heinz (NASDAQ: KHC): a business which names Warren Buffett’s Berkshire Hathaway as its largest shareholder and one with a stock price that has declined by around 70 percent over the last two years. But the recent New York Times piece on the business is worth a read as much […]
Apple’s services strategy is falling into place
Apple’s annual iPhone launch event, held in early September and billed as “By innovation only”, was dismissed by critics as anything but. Hardware improvements were largely limited to cameras and battery life and were iterative at best; there was no 5G support, no folding screens and only (!) three cameras on the back of the […]
When is the Top of the Cycle Really the Top?
Forecasting peaks of cycles is notoriously difficult, and while it often feels like we’re reaching the top of the longest expansion period in history, evidence suggests there is still plenty of room to grow. Equity market tops are often associated with euphoria and overconfidence, when otherwise risk-averse investors finally succumb and buy equities or the […]
Is Peloton an Apple?
Peloton, the premium Connected Fitness company that sells $2,000 stationary bikes and $4,000 treadmills, recently filed its S-1 for an IPO. One of the more interesting investor debates taking place is whether Peloton is a hardware company or a subscription service. Peloton bears argue that the company is selling overpriced commodity hardware, while the bulls […]
Customers Don’t Grow on Trees
Firms, at their core, sell products and/or services to customers. Often it costs money to build awareness of the product or service you’re selling, sometimes small sums, sometimes large. It’s useful to think of this through the lens of a metric called customer acquisition cost (CAC). We will look at why this calculation is both […]
