Montaka's Spotlight Series

Andy and Chris step through our recent essay titled: 4 simple steps to unearth great investment opportunities. They show how great investment opportunities can stem from identifying (i) structural transformations, (ii) the related supply chains, (iii) the competitively protected players, and (iv) those with valuation upside.  (Apologies for the handful of audio gremlins in the recording this month). #InvestmentOpportunities #StructuralTransformations #DurableAdvantages #ValueInvesting #LongTermCompounding #AlternativeAssets #AI #CleanEnergy #DigitalMarketing #SupplyChains #Undervalued --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Unlock the hidden strengths of @Blackstone, the alternative asset powerhouse. In this insightful episode, @MontakaGlobal's Andy and Chris reveal 6 underappreciated advantages fueling Blackstone's massive upside potential. While Blackstone is a well-known name, many investors may be underestimating its true strengths and competitive advantages. This insightful episode unpacks the key reasons why Blackstone represents a compelling investment opportunity, from its diverse asset platform and ability to raise capital across insurance, private wealth, to its cutting-edge data analytics capabilities. Andy and Chris also address common valuation misconceptions, highlighting Blackstone's capital-light business model and sustainable earnings growth potential. Highlights of the episode: Blackstone's diversification beyond private equity into credit, real estate, and other alternative assets (2:21) Ability to raise capital from massive insurance, private wealth, and pension fund markets (6:07) Proprietary data advantages from scale, 230 private companies, 12,000+ real estate assets (11:35) Prescient pivot away from office real estate, now just 2% exposure (14:49) Valuation misunderstood - sustainable performance fees, reliable earnings growth (17:03) Capital-light business model enabling high-growth reinvestment (23:03) Blackstone as a long-term holding and one of Montaka's largest positions (26:02) #Blackstone #Montaka #Amacken #CDemasi #BX #AlternativeAssets #PrivateEquity #DataAnalytics #RealEstate #CompetitiveAdvantages #ValuationOpportunity #InvestmentAnalysis --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Tune in to this month's Spotlight Series podcast as Amit and Andy delve into ServiceNow's enduring potential, exploring how its innovative offerings, paired with generative AI, are revolutionizing productivity for enterprise clients and paving the way for a promising future. #Montaka #Global #Equities #research #Stockpick #Long #NOW #ServiceNow #NYSE --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

We circle back to three of our most popular podcasts from the last year or so, and fish out a couple of highlights that we think are really important to underscore as we enter 2024. Hope you enjoy listening! #Montaka #TBT #Highlights #2023 #SpotlightSeries #Podcast --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Andy & Chris circle back to our essay published last month, titled Mind the 4 demographic truths of equities, and discuss why these truths are critical for investors to keep in mind when constructing portfolios. There is no doubt the current environment is febrile and uncertain. It is a challenging time for investors. But it pays for investors to take a longer view, to step back and look at the long-term ‘demographic’ truths of the market. Those truths reveal that investors should ignore short-term noise and be patient, have faith in equities, and – if they are seeking to outperform the market – focus on high-potential stocks that will deliver superior returns over the long run. Tune in now and learn from the Montaka Portfolio Managers. #Montaka #Global #Podcast #4Truths #Equities --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Exciting new episode with Chris Demasi & Matt Briggs where they discuss the most recent Q3 reporting season. We dig deeper into the recently reported financials to unearth certain overlooked nuggets which relate to Montaka’s core portfolio holdings: Amazon, Spotify, Blackstone and Microsoft. --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Join Andy and Chris in a deep dive into the Three Pillars of Active Management - Concentration, Patience, and Discipline. They draw on empirical research to explain how these three pillars can lead to superior long-term returns for investors. By examining real-world examples and case studies, they shed light on the challenges and opportunities of navigating the complex world of active investing. Learn how these principles can lead to superior investment performance in today's changing landscape. Key sections in the podcast: 05:15 - Concentration 10:38 - Patience 14:52 - Discipline 22:00 - God's portfolio too cannot avoid drawdowns 26:34 - Montaka & the three key dimensions 34:35 - Summary #Investment #discipline #principles #Finance #Equities #Stocks #Investing #Stockpicking #Montaka #Global #Investments #Education #Research #Markets #Long-term #Growth #ETFs #MKAX #MOGL #Funds --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

The landscape of TV viewing stats and the evolving dynamics of advertising dollars are explored. While ad spending on TV remains steady, viewership is on the decline. On the other hand, Streaming platforms have surged to their highest levels, with viewers increasingly dedicating their time to streaming services, which is impacting traditional linear TV. Key players like YouTube, Netflix, Amazon Prime, and others are discussed in depth, shedding light on their monetization models and cloud hosting costs. The podcast also emphasizes the cost advantages enjoyed by hyperscalers which own streaming services. Learn how streaming platforms like YouTube and Amazon Prime are changing the game. 📱📺 #TVViewing #Streaming #DigitalTrends #MediaTrends #Global #Equities #Tech #Trends #DigitalMedia #TVStats #StreamingRevolution #Montaka #TVStats #StreamingRevolution --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Meta’s stock closed out its ninth straight monthly gain, becoming one of the best performers in the S&P500 this year- after losing two-thirds of its value in 2022. From a sharp decline last year to a remarkable recovery in the current, discover how Meta, formerly known as Facebook, has navigated through challenges and embraced opportunities. Join hosts Andy and Chris as they delve into the recent second-quarter results, powered by AI, network effects, and Ad growth potential. Gain insights into Meta's future trajectory and its role in shaping the captivating realm of the Metaverse. This is a must-listen episode for anyone seeking to comprehend the dynamics behind Meta's captivating journey. #MetaStockRevival #AI #Metaverse #Podcast #MontakaGlobal #Equities #AndyMacken #ChrisDemasi #Montaka --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Join Chris Demasi and Amit Nath as they discuss the alternative assets manager KKR, a bullet train that has just begun picking up speed. It started out moving slowly then steadily, but momentum is about to flip and rapidly propel the business forward. From the enormous opportunity to further penetrate massive new markets like insurance and private wealth, leverage its scale advantage in highly attractive Asia or the potential for a valuation re-rating with smoother earnings streams or multiple expansions, the future is full of extraordinary opportunities for KKR. With the stock undervalued, investors have a window of opportunity. They should embrace this multi-decade, secular growth story and get their tickets aboard the train before the market fully grasps – and prices in – what is going on beneath the surface of this incredible business. In this episode of Montaka's Spotlight series, we look at 5 ways KKR is incredibly well positioned for the future and why it represents an incredible investment opportunity for investors seeking superior long-term returns. If you would like to read through the detailed article by Amit Nath, simply click: 5 reasons to buy alternatives giant KKR for your portfolio Please subscribe to our podcast channel for more such insightful content from the world of global equities and investment management. #KKR #stocks #global #equities #montaka #ChrisDemasi #AmitNath #Assets #Manager #Buy --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Chris and Andy discuss the importance of learning and evolving as investors in the Spotlight Series podcast episode. They reflect on the quotes by Formula One Champion Nikki Lauda and Charlie Munger, highlighting the lessons to be learned from failures and setbacks. They emphasize the need to draw the right conclusions and make process improvements based on them, despite the conflicting advice in the investing field. The discussion revolves around five unambiguous truths that can help investors evolve and improve their decision-making. The truths include thinking probabilistically, extending the time horizon, tuning out the noise, and running your own race. The first truth is thinking probabilistically, which involves considering multiple possible outcomes and assigning probabilities to them. The second truth is extending the time horizon, focusing on the long-term intrinsic value of businesses rather than getting caught up in short-term fluctuations. The third truth is tuning out the noise, being selective about the information consumed and avoiding overemphasis on short-term considerations. The fourth truth is running your own race, making decisions based on your own analysis and convictions rather than blindly following the market. Lastly, the fifth truth is embracing process improvement, constantly refining and improving investment strategies based on the right conclusions. Key learnings: Learning from Failure: Chris and Andy discuss the value of learning from failures and setbacks, highlighting the importance of drawing the right conclusions. Thinking Probabilistically: They emphasize the need to think in terms of multiple possibilities rather than making deterministic predictions. They discuss the challenge of holding conflicting views and the benefits of assigning probabilities to different outcomes. Extending the Time Horizon: They address the bias towards short-term thinking in investing and explain the importance of focusing on long-term considerations for better investment outcomes. Tuning out the Noise: Chris and Andy discuss the overwhelming amount of information and emphasize the need to filter out noise. They encourage investors to observe information but not to overweigh its importance. Running Your Own Race: They share the analogy of orienteering, where following others can lead to suboptimal results. Similarly, in investing, they stress the importance of making independent decisions and having a different view from the market to outperform. The discussion highlights the challenges of implementing these truths and acknowledges that they require conscious effort and practice. The importance of applying these principles in decision-making beyond investing is also emphasized. You can also read these investing tips shared on our website in our recent article: https://montaka.com/5-steps-to-better-investing/ #Investment #Advice #Tips #Learning #SetbacksAndSuccess #EvolvingAsInvestors #InvestingWisdom #LongTermThinking #Montaka #global #equities --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

This month Andy talks with Amit about the Q1 earnings season that is unfolding. Of particular interest are the results of Blackstone, Microsoft, Amazon, S&P Global, and Meta.        Despite a very challenging quarter in financial markets, Blackstone still raised US$40 billion in new assets, bringing total AUM to US$991 billion. With US$194 billion in ‘dry powder,’ Blackstone is well positioned to take advantage of any opportunities, particularly in commercial real estate and private credit. The idea of ‘operating leverage’ – a concept that means revenues grow faster than costs, and profit margins expand as a result – is something that we are seeing across many of Montaka’s investee companies. S&P Global, for example, grew revenues by 4% per annum, while costs increased by only 1% per annum. Microsoft, while still growing +10% per annum in the most recent quarter, grew costs at only around 3% per annum. Meta is yet another example. As revenue growth resumes, Mark Zuckerberg is aggressively reducing costs. Meta’s original forecast was for US$94-100B in total costs in FY23. In January, the company lowered this forecast to US$88-94B, excluding one-time restructuring costs. Now, in recent days, the company has reduced the forecast again to US$82-86B, excluding one-time restructuring costs… representing a cost base that, rather than growing by 10% relative to last year, it actually is shrinking by 5%. --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

We discuss the recent collapse of Silicon Valley Bank and Credit Suisse, from liquidity squeezes and investor panics to the resilience of big banks. We explain why the US banking system is healthy at the moment and why a GFC replay is unlikely. And then moving onto AI, we dive into the exciting news about OpenAI's highly advanced GPT4 and Microsoft's Copilot announcement, discussing their potential implications for businesses and investors alike. Tune in for an engaging and informative discussion on the intersection of finance, tech, and innovation. #finance #technology #banking #AI #GPT4 #Microsoft #OpenAI #SiliconValleyBank #CreditSuisse #productivity #investing #innovation #global #stocks #mkax #mogl #andrewmacken #chrisdemasi --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

The world of AI and tech is moving fast, and in the past few weeks, we've seen remarkable innovations like 'ChatGPT'. If you're an investor who wants to stay ahead of the curve, you won't want to miss this podcast. In 2022, many declared tech dead, but Montaka's deep analysis proves otherwise. Our latest whitepaper reveals remarkable opportunities for smart investors to profit from a new era of tech dominance, fueled by artificial intelligence (AI). Join Andrew and Chris as they discuss the key takeaways and top stocks poised to lead the tech recovery. To get your free copy of our latest whitepaper, click here: https://marketing.montaka.com/tech-whitepaper or visit our website at www.montaka.com. Don't miss out on this exciting opportunity to stay ahead of the game in the world of tech investing. #techinvesting #AI #artificialintelligence #techrecovery #investingopportunities #Montaka #whitepaper #smartinvesting #innovations #ChatGPT #techstocks #podcast #investors #stockmarket #finance #techdominance #emergingtechnologies --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Andy and Chris discuss their views on the market and the economy as we head into 2023. They believe that the downturn in 2022 created a great opportunity to buy high-quality businesses at a lower price, due to moderating inflation and slowing economic growth in the US. In their opinion, the probability of interest rates continually increasing throughout 2023, is very, very low- which offers a more favorable environment for equities. In the current market conditions some businesses are facing headwinds from the tough macro environment. However, the expectations priced into stocks are for a much greater decline, which could result in positive surprises and an increase in stock prices. They strongly believe that buying stocks when they are undervalued is the best way to reduce risk and see 2023 as a great entry point for investments that will reap benefits in the long-term. They also touch upon Montaka's current portfolio exposures and deep dive into one of our holdings- S&P Global, which they believe will thrive in this environment.  --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

What are 'compounders'? You might have heard the term being tossed around in the investment industry but what do we actually mean by it. Andy and Chris discuss the key characteristics of a 'compounder'. They also talk about a recent study that shows that the 'compounders' that have achieved 10x returns over a decade were driven mostly by revenue and earnings power growth, and the entry price or timing the stock market has very little impact on them. So being able to identify and invest in those businesses that can truly compound their earnings power over a long period of time is the most powerful form of investing. They sum it all up by introducing Montaka's articles for the month. Chris wrote about the difference between cyclical and structural growth and its sustainability. While Andy responds to six key questions from investors around Meta platforms in his piece.  Please go to our website www.montaka.com/blogs and read these articles. --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

Andy and Chris talk about some interesting recent developments as we just come through another quarterly earnings period. They discuss the operating conditions and the progress happening in the businesses we own in our portfolio. They go on to share their perspective on what's been happening in the market in the past few days in light of the price volatility in global equities.  #bear or #bull #global #equities #stockpick #investment #management #portfolio #manager #amacken #cdemasi #montaka --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

In this podcast, Andy is joined by Director of Research, Amit Nath, to discuss the macroeconomic drivers of equity markets this year. The year so far has been quite shocking for investors who are probably wondering when the turbulence will end. Given that, we take a step back and look at 5 key charts that provide some perspective on the current environment for investors. They analyze the evidence of a looming inflection point. And they discuss a handful of global stocks that Montaka believes are set to re-rate.  #global #equities #bear vs #bull #inflection point #markets #commentary #trend #investors #hope #montaka #global #investments --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

We are entering a period of difficult economic times, but there is a class of stocks that will keep performing. These stocks have ‘advantaged’ businesses. In this Podcast, Chris and Andy look at the mission-critical companies best placed to thrive in this "strange and challenging” economic environment.  And they look at why Microsoft is extraordinary value when viewed from a private equity perspective. #stockpicking #finance #investment #business #money #investing #trading #stockmarket #stocks #wealth #invest #motivation #personalfinance #financialliteracy #wallstreet #financetips #investor  --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message

In this podcast, Andy & Chris chat about the Q2 reporting season for 2022 and highlight important insights on Montaka's investee companies, including Amazon, Alphabet and Blackstone. Is the market being overly myopic today? And what can public investors learn from private investors? --- Send in a voice message: https://podcasters.spotify.com/pod/show/montaka/message