In this section we explore investing basics, common themes and information to help guide your investing journey. 

The information provided is general information only. The information does not take into account your investment objectives, financial situation or particular needs. You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided in this document and consider seeking advice from a financial adviser if necessary.

August 13, 2020

Understanding ASX-quoted managed funds

By Andrew Macken

ASX-quoted managed funds are becoming increasingly popular among investors looking for a simpler and more transparent way to buy into diversified portfolios. These funds allow investors to easily buy and sell units (shares) via the Australian Securities Exchange (ASX).
August 5, 2020

Is value investing poised to do well?

By Tim Kelley

One of the most fundamental dichotomies that can be drawn in equity markets is the one that separates “value” from “growth”.  In simple terms, you pick a basic metric – say price to earnings ratio – and you divide the market up into those stocks with a PE ratio above the average (growth stocks) and those with a PE ratio below the average (value stocks).

June 26, 2020

Is the LIC market dead?

By Dean Curnow

Listed Investment Companies (LICs) have arguably been the poster child of the Exchanged Traded Product (ETP) movement. As at the end of May, LICs accounted for AUD $45 billion by market capitalisation on the ASX, with 108 offerings across a range of asset classes though mostly concentrated amongst Australian and international shares as captured by Morningstar.
June 22, 2020

Limits on growth

By George Hadjia

Value investing involves buying something for less than it is worth. In concept this is simple, but in practice it involves the more challenging task of estimating the future growth of cashflows over coming decades. There are certain types of businesses that have characteristics that allow for multiple S-curve growth patterns.
May 21, 2020

Where models fail

By George Hadjia

At Montaka we consider ourselves value investors. That is, we aim to buy a dollar of value for less than it is worth. Inherent in this approach is estimating the intrinsic value of an investment, and we use financial models to achieve this.
April 8, 2020

Part I: How reliable is Total Addressable Market (TAM) analysis?

By Amit Nath

A helpful mental model that we often incorporate into our research process at Montaka Global is Total Addressable Market (TAM) analysis. Through this process, we attempt to estimate how large the revenue opportunity is for a particular business. However, the picture isn’t quite as linear as it sounds. For example, take the advertising industry as it currently stands.
March 5, 2020

The importance of a Competitive Advantage Period

By Daniel Wu

Competitive Advantage Period is a key investment concept that is often overlooked by investors. An understanding of this concept can help investors better determine what they’re paying for when they buy a stock. Under the expectations investing framework which the Montaka team utilises extensively, one key component that attracts less consideration is the Competitive Advantage Period (CAP).
February 26, 2020

Are you overweight in growth stocks?

By Tim Kelley

In an uncertain world, should investors have a strategy that looks beyond current trends and accommodates a range of different possible futures? In recent years growth stocks have had a winning streak, is now a good time to consider shifting the balance of your holdings towards companies that can demonstrate the ability to generate profits today.
February 19, 2020
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Is it time to rebalance your retirement portfolio?

By Roger Montgomery

In the current environment of ultra-low interest rates, generating enough income for retirement can be challenging. Instead of being able to add to their nest egg, many retirees find themselves needing to withdraw capital to make up a shortfall between their lifestyle requirements and their income.
February 13, 2020

Are quality businesses set to shine again?

By Tim Kelley

Some years ago, we put together a notional “High-minus-low quality” portfolio, which holds long positions in ASX-listed companies that we consider to be high-quality, and short positions in companies that we consider to be lower-quality. The absolute return from this portfolio provides an indication of whether the higher quality companies are outperforming the lower-quality companies.

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