In this video Andrew shares a summary of Montaka’s Q4 2019 letter to investors. Discussing the view that the world is favourable for equities at the moment with monetary policies highly accommodative around the world. Andrew also shares a holding in the portfolio – Floor & Decor.

  In this week’s video insight Stuart reviews the banks performance in 2019. The banks have endured a turbulent few of years and 2019 was no different, generating a total return of 9. 5 per cent for the calendar year, less than half that of the broader market return of 23. 8 per cent.

  Technology was once a major competitive advantage for large companies, today that’s no longer the case, smaller companies can now compete on a level technology playing field thanks to Cloud Computing and the Digital Economy.   It’s why we believe that small companies represent an attractive area for investing.

With the year coming to a close, I thought it would be interesting to look at 2019 in terms of some of the movements we saw in the ASX300 and its constituents.

  IMDEX Limited (ASX:IMD) is a mining services company with solid leverage to gold exploration and development activity. The key attraction for us is the strong IP within the business. Incoming Chief Executive Officer, Paul House shares the exciting pipeline of new technologies.

Medibank Private (ASX:MPL) is a long term holding in The Montgomery Fund and The Montgomery [Private] Fund with our investment case being partly based on superior investment in productivity, thanks to scale, that delivers both a functionality and cost advantage over its competitors.

As small cap investors, we are constantly seeking money-making opportunities arising from change events. We look for the emergence of specific structural or cyclical factors which have the potential to open up new markets, drive earnings higher or alter market perceptions about business quality or valuation.

Adelaide-based telecommunications company Uniti Wireless (ASX: UWL) is continuing its spending spree with additional acquisitions that has seen the market capitalisation grow from $33 million to the current $555 million. A staggering increase of $522 million in just nine-months! In my last blog, I wrote “Forecast Revenue and EBITDA for Fiscal 2020 is $57. 3 million and $16.

Finding growth businesses with a long runway of opportunity, that can also grow independent of the economic cycle, can feel a bit like looking for a needle in a haystack. But we think PointsBet Holdings (ASX:PBH) is one of those businesses. PointsBet Holdings is at the ground floor of the commercialisation of legal online sports betting in the US.

  In this week’s video insight Roger discusses why we view NextDC as a long-term infrastructure play that investors should be viewing with a telescope rather than a microscope to understand the opportunity. You can read Gary Rollo’s article here: Why I think NextDC is undervalued The Montgomery Small Companies Fund  owns shares in NextDC.

Earlier this week, Alibaba completed a long-anticipated secondary listing on the Hong Kong Stock Exchange, raising at least US$11 billion in the biggest IPO of the year.

On 27 November Telstra (ASX:TLS) held an investor day to update shareholders and other stakeholders on progress in respect of the T22 strategy.   What new information did we glean from the update? As readers will know, Telstra is a significant holding in The Montgomery Fund and a company we follow with interest.