Andrew Macken
Andrew Macken is the Chief Investment Officer of the Montaka funds and the Montgomery Global funds. He established MGIM in 2015 in partnership with Montgomery.
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articles by Andrew Macken
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Five key numbers we have learnt from earnings season
Andrew Macken
November 5, 2019
Earnings season for the third calendar quarter of 2019 is well under way. While the team at Montaka are busy analysing the results of many global businesses, here are five key numbers that have stood out to us over recent days. Continue…
by Andrew Macken Posted in Companies, Stocks We Like.
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The power of compounding when rates are low
Andrew Macken
November 4, 2019
The new low interest rate world in which we find ourselves is strange. Why does it make sense that an investor should have to pay for the privilege of lending to the German government for 20 years, for example? And yet, the yield on German 20 year bunds is negative – effectively implying exactly this. Continue…
by Andrew Macken Posted in Global markets, Stocks We Like.
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Short seller reveals secrets of a reliable bet
Andrew Macken
October 28, 2019
In this article for the Sydney Morning Herald Lucy Battersby discusses the recent wake of multiple negative reports on large Australian companies that sent stock prices tumbling. Lucy draws on Montaka’s short position strategy by identifying the four characteristics they look for before taking a short position. Read here.
by Andrew Macken Posted in On the Internet.
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Are negative interest rates coming to Australia?
Andrew Macken
October 18, 2019
The concept of negative interest rates makes the mind boggle. And yet, over recent years many central banks around the world have set their policy rates to negative levels. A number of examples can be observed in the chart below which is sourced from a recent note titled: “Yield Curve Responses to Introducing Negative Policy Rates” produced by Jens Christensen of the Federal Reserve Bank of San Francisco. Continue…
by Andrew Macken Posted in Market commentary.
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Hey Josh, how about cranking up our debt?
Andrew Macken
October 11, 2019
In this article for the Herald Sun, Andrew questions whether delivering a balanced budget for the first time since the GFC is even appropriate today? Read here.
by Andrew Macken Posted in In the Press.
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Should the Australian government actually be increasing its debt?
Andrew Macken
October 8, 2019
As news is emerging that Australian Treasurer, Josh Frydenberg, will soon deliver a balanced budget for the first time since the GFC, one needs to ask if this is even appropriate today. While surpluses are prudent and allow for protection against future downturns, the logical time to build government surpluses is when growth is strong and interest rates are rising. Continue…
by Andrew Macken Posted in Editor's Pick, Global markets, Market commentary.
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Shared interest: How low interest rates will impact on share portfolios
Andrew Macken
October 4, 2019
Mark Story published an article in psnews which discusses why lower rates will be difficult for those investors who reply on income from fixed interest. Mark draws on Andrew’s view that investors need to focus on long-term sustainable growth stories. Read more.
by Andrew Macken Posted in On the Internet.
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Can high profit margins hurt?
Andrew Macken
September 27, 2019
Much has been written about Kraft Heinz (NASDAQ: KHC): a business which names Warren Buffett’s Berkshire Hathaway as its largest shareholder and one with a stock price that has declined by around 70 percent over the last two years. Continue…
by Andrew Macken Posted in Companies.
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How to understand how lower interest rates affect shares
Andrew Macken
September 24, 2019
Mark Story published an article in The New Daily which discusses the impact low interest rates will have on the ASX-listed companies you’re interested in. Mark draws on Andrew’s view as to why investors should focus on long-term, sustainable growth stories. Read here.
by Andrew Macken Posted in On the Internet.
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How to navigate this confusing market
Andrew Macken
September 12, 2019
Andrew Macken joined Tom Piotrowski at CommSec on the Executive Series to discuss the outlook for global markets. With a wide range of possible outcomes for many global scenarios there are some key themes which you should be aware of. Watch here.
by Andrew Macken Posted in Global markets, TV Appearances.
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