Finding the world's best businesses

Andrew Macken

Montaka Global Investments

Mark Twain said it better than we ever could. 

“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” 

And when it comes to the valuation of some of the world’s greatest software businesses today, it is hard to know for sure what is so.

In Part I of this two-part white paper, we identified the digital transformation of the enterprise as a prospective, structural trend that is now accelerating as a result of COVID-19. Within this trend are a number of attractive markets with high barriers to entry and limited competition. 

We believe the long-term winners of these attractive markets make for compelling investment opportunities to the extent they remain undervalued. In Part II that follows, we show the dangers of employing typical valuation heuristics in this space; and evaluate the significant opportunity costs associated with missing out on investments in the world’s greatest businesses. 

It is one thing to identify the long-term winners in attractive and structurally growing markets. But it is another to find those which are undervalued. This is the simplified objective of the Montaka investment team. This is why we come to work each day.

Projecting the future value of long-term winning businesses in attractive markets is far from a trivial exercise. Indeed, one could mount a strong argument that many of the world’s very best businesses have proven to be consistently undervalued by public equity markets. We demonstrate some evidence of this dynamic in the Part 2 of our whitepaper which can be accessed here

Access our research first

We regularly share our thoughts on the latest market trends and stocks we're watching . Click the 'FOLLOW' button below to get our insights delivered directly to your inbox.


Andrew Macken
Chief Investment Officer
Montaka Global Investments

Andrew is responsible for managing all investments at Montaka, including the ASX-quoted Montaka Global Long Only Equities Fund (ticker: MOGL) and Montaka Global Extension Fund (ticker: MKAX).

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment