articles by Andrew Macken
March 18, 2020
In this week’s video insight, Andrew Macken reviews the recent changes to our global portfolios. Our concerns surrounding how COVID-19 will impact the US in particular have significantly grown from what they once were. This translates into a much more significant – and relatively longer lasting – downside risk in US aggregate demand than we had previously assessed. Though we certainly hope we are wrong, we now believe we were overestimating the preparedness of many western governments and are therefore facing the possibility of a crisis-in-confidence in these governments.
“Humans tends to be averse to change. It can be surprising, unsettling – even scary. While I realise we may attract criticism for changing our thinking and our positions, we have done so on the basis that we believe it is the right thing to do for the people who have entrusted their capital to us.” Andrew Macken
by Andrew Macken Posted in Montgomery News and Updates, Video Insights.
March 17, 2020
When it rains, it certainly does pour at the moment. In the midst of the Italian government effecting a quarantine of 17 million citizens, including the entire city of Milan, a meeting was taking place in Vienna – the result of which would release a deflationary shock around the world. And it had little to do with the coronavirus. Continue…
by Andrew Macken Posted in Global markets.
March 12, 2020
We have naturally received a number of questions about how we are framing the risks around the coronavirus and how we are positioning our global portfolios. What follows is a brief summary of our thoughts on these topics, as they currently stand. Continue…
by Andrew Macken Posted in Global markets, Montgomery News and Updates.
March 9, 2020
In the wake of the latest news about the coronavirus cases and the sharp correction seen in global equities, Andrew Macken, Montaka’s CIO addresses two key questions which are being posed by investors. To learn more, watch this special edition of Montaka’s Spotlight series.
by Andrew Macken Posted in Video Insights.
February 28, 2020
In this article for the Herald Sun Andrew identifies why the most valuable asset for an Australian investor is that they’re Australian. Irrespective of which government is in power, our nation is by and large a free and democratic one governed by laws. Read here.
by Andrew Macken Posted in In the Press.
February 24, 2020
February 18, 2020
Many Australian investors typically count their home as their largest asset. Perhaps followed by their share portfolio and superannuation. But could it be that the most valuable asset for an Australian investor is that they’re Australian? Continue…
by Andrew Macken Posted in Economics.
February 11, 2020
The coronavirus that originated in China recently has had a devastating human impact. It is unclear how much more widespread the infections and deaths will become. We can only hope that the Chinese government’s significant efforts to contain the virus will prove successful. Continue…
by Andrew Macken Posted in Economics, Global markets, Market commentary.
January 17, 2020
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. Continue…
by Andrew Macken Posted in Global markets, Montgomery News and Updates, Video Insights.
January 15, 2020
In the first days of the new calendar year, as the world braced itself for a potential war in Iran, Ben Bernanke, the former Chair of the Federal Reserve, gave a speech to the American Economic Association in San Diego. The topic? “The new tools of monetary policy”. Continue…
by Andrew Macken Posted in Global markets, Market commentary.