Montaka's Spotlight Series

AI is no longer just a technology story. It is becoming an operating model question. After returning from the Bernstein Strategic Decisions Conference in New York, Montaka’s Lachlan Mackay shared several signals that matter for investors: AI adoption is moving from optional to expected, with companies like MSCI embedding usage into day-to-day work. Proprietary data is becoming more valuable, not l...

AI agents are being framed as an existential threat to enterprise software, with some investors assuming that software platforms, seat-based models, and switching costs could be eroded almost overnight. In this episode of Montaka’s Spotlight Series, Jessica speaks with Andrew Macken, Chief Investment Officer at Montaka Global Investments, about the central argument from Montaka’s latest whitepaper...

AI agents are becoming more autonomous—but are they trustworthy? In this episode of the Montaka Global Investment Spotlight Series, Chief of Staff Jessica Dharmasiri sits down with CIO Andrew Macken to explore three critical AI safety risks that every business leader needs to understand: 🔍 AI Models Can Deceive – Research shows models deliberately hiding their capabilities to avoid modification...

The noise is bad and the facts are good – KKR CEO Scott Nuttall's words from late 2025 perfectly describe many stocks in Montaka's portfolio today. In this Spotlight Series episode, Lachlan Mackay and Tim Le dissect recent financial results from Amazon, Meta, Spotify, REA Group, and DoorDash. Across the board, the results were exceptional and competitive positions continue strengthening –...

We tackle the recent market panic head-on. With software stocks experiencing a dramatic sell-off over AI agent fears, we examine whether the "SaaS apocalypse" narrative holds up to scrutiny. Join Montaka's Director of Research Amit Nath, Senior Analyst Lachlan Mackay, and Portfolio Manager Andrew Macken as they dissect the market's assumption that AI agents will replace tradition...

Enterprise software stocks—from Salesforce to ServiceNow and Atlassian—have been hit hard, with many down 40–60% in the last year. The market narrative? Generative AI will disrupt software creation, compress pricing, eliminate seats, and ultimately render incumbent platforms obsolete. But is that actually happening? In this episode of Montaka’s Spotlight Series , Andy sits down with Amit , Montaka...

In this Montaka Spotlight Series podcast, Andy sits down with Amit Nath to challenge the prevailing narrative that AI is in a bubble. As a prelude to Montaka's forthcoming white paper on AI infrastructure, they explore critical misperceptions about hyperscale cloud providers. Perfect for: Investors, tech analysts, and anyone seeking to understand the real economics behind the AI infrastructure...

Are markets overvalued? It depends on how you look at it. In this excerpt from a recent client presentation, Andy shares our investment philosophy and why traditional metrics like PE ratios can be misleading when evaluating companies with transformational growth potential. Key Topics Covered: → Why the market persistently undervalues long-duration growth opportunities → The distribution of PE rati...

Last month, OpenAI committed to an extra $300 billion of revenue for Oracle — and just 12 days later, Nvidia announced a $100 billion data center investment to support OpenAI’s expansion. The scale is staggering… and a little baffling. In this Spotlight Series episode, Andy, Lachie, and Amit take you inside their internal discussions from New York as they unpack the numbers behind this trillion-do...

Today’s Spotlight episode comes from Andy’s global stage presentation at the Wide-Moat Investing Summit. View the slides here: https://tinyurl.com/floor-decor The focus? Floor & Decor – a U.S. retailer with undervalued potential. You’ll learn why flywheels matter, how cyclical lows create opportunity, and what makes this business a possible long-term compounder. Timestamps: 00:00 – Intro &...

What do you get when you mix AI, cloud infrastructure, and $100B in annual CapEx? A generational shift. In this episode, Andy and Amit explore why Microsoft, Google, and Amazon are growing faster than ever—and why this cloud boom still has miles to run. From legacy workload migration to generative AI token explosions, tune in for an investor’s view on the real backbone of the intelligence revoluti...

What do Costco, Spotify, and a flooring retailer have in common? They all harness a rare business superpower: the flywheel effect. Join Andy and Lachie as they reveal how patient capital, psychological discipline, and customer obsession create unstoppable companies—and how you can spot them early. Key Topics: 00:01:46 The 3 sources of investing advantage (informational, analytical, psychological)...

Join Andy, Amit, and Lachlan as they unpack key takeaways from the prestigious  Bernstein Strategic Decisions Conference  in New York. From AI-driven transformations in the restaurant industry to the evolving landscape of private credit and enterprise software, this episode offers exclusive insights into the trends shaping global markets. 🍔  How AI is revolutionizing restaurant operations  (Yum!...

In this episode of  Montaka’s Spotlight Series , Andy sits down with Amit Nath to explore the seismic shift AI agents are bringing to the global workforce. From redefining productivity to unlocking $3.7 trillion in annual labor savings, they break down how businesses like Salesforce, ServiceNow, and Google are leading the charge—and why this is just the beginning. Key Timestamps & Topics Cover...

In this episode of the  Spotlight Series , Andy and Lachy unpack  Amazon’s hidden flywheel : its robotics revolution. From  5-story fulfillment centers  the size of  55 football fields  to AI-powered sorting and packing, they explore: How  thousands of robots  are replacing human roles—safely, efficiently, and at scale. Why  lower "cost to serve"  (25% savings!) translates to faster, che...

In this episode of the Montaka Spotlight Podcast, Chris and Andy dive into the complexities of market valuations, focusing on why some of the world’s most advantaged companies may appear overvalued at first glance but are actually reasonably priced when you dig deeper. They discuss three key distortions—R&D spending, capital intensity, and cyclicality—that impact valuation multiples and explai...

Unravel the impact of DeepSeek, a relatively unknown Chinese AI lab, which recently released a high-performance AI model at a fraction of the cost of leading models like OpenAI's. Deepseek's AI model, which is open-source and available for commercial use, has caused a stir in the tech world, leading to a $1 trillion wipeout in US tech stocks. Join Andy Macken and Amit Nath as they explore...

Spotify has proven that even in a competitive landscape dominated by giants like Apple, it can thrive and grow exponentially. In this final Spotlight Series podcast of 2024, Senior Research Analyst Lachlan Mackay joins host Andy, to break down the core reasons behind Spotify's impressive stock performance and rapid profitability. From the power of the ad-supported funnel and minimal churn to a...

Elite triathlete Sam Musgrove shares his remarkable journey from rugby to completing the Ironman World Championships. Learn about mental toughness, strategic goal-setting, and how the disciplines of endurance sports parallel success in business and life. 💪 How do you tackle a 3.8km swim, 180km bike ride, and a full marathon?"It's like any project - break it into manageable chunks" D...

We added one new 'compounder' investment to Montaka's portfolio during the quarter: Floor & Decor (FND), a US-based big box specialty retailer of hard-surface flooring. In this month's podcast, Andy and Chris explain why we believe FND is primed for long-term earnings growth and, yet remains underappreciated by the market today. #global #equities #Stockpicking #MontakaGlobal #F...

In today’s fast-paced digital world, businesses must constantly innovate and adapt to stay ahead. One company that has mastered this art is Amazon. By leveraging a series of interconnected "flywheels," Amazon has created a self-reinforcing cycle of growth and competitive advantage. In this article, we’ll explore five key flywheels that have propelled Amazon to the forefront of global com...

Join our investment team - Andy, Chris, Amit and Lachie- as they dive into the recent stock price declines. Are these drops a sign of trouble, or is there more to the story? They also discuss the impressive quarterly results of KKR and Spotify. Despite the market turbulence, these companies are showing strong fundamentals, presenting exciting investment opportunities! 💼✨ Tune in now to learn mor...

Discover the secrets behind compounders - businesses that harness sustainable growth and competitive advantages to achieve remarkable long-term returns. In this episode, we revisit our most popular discussion diving deep into what makes a compounder, why they are crucial for investors, and how they fit into Montaka's portfolio strategy. Tune in to learn how identifying and investing in these g...

Join Andy and Chris in as they discuss the increasing concentration of tech companies in the stock market. They analyze historical data, noting that the top ten stocks in the S&P 500 now account for 33% of its total value, a significant rise from historical levels. Is this concentration a cause for concern, or is it simply a reflection of the evolving economic landscape? Tune in to find out wh...

In this insightful podcast, we unravel the secrets behind LVMH's remarkable success in the luxury goods market. From their iconic brands like Louis Vuitton and Christian Dior to their strategic pricing power and relentless focus on nurturing brand heritage, we explore the factors that have propelled LVMH to the forefront of the industry. Chris and Andy delve into LVMH's ability to captivat...