Christopher Demasi
Christopher is a Portfolio Manager for the Montaka funds and the Montgomery Global funds. He joined MGIM at establishment in 2015.
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articles by Christopher Demasi
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The long-term history of long-term interest rates
Christopher Demasi
October 17, 2019
I have written previously about our view that interest rates are likely to remain low for a protracted period. In June we looked at the 50-year history of interest rates in the US and discussed the challenges to interest rates rising in the near-term[1], and in July we looked at equity prices in the context of a low rate environment[2]. In this post I want to share a much longer history of interest rates that contains some surprising and meaningful insights. Continue…
by Christopher Demasi Posted in Global markets.
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Investors Nervous About 4Q But There Are Great Opportunities
Christopher Demasi
October 4, 2019
In this interview for Bloomberg Chris discusses the sell-off in the US and how investors that are nervous about going into 4Q should be excited by opportunities that may arise. Watch here.
by Christopher Demasi Posted in TV Appearances.
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Have bond buyers mistimed the equity market?
Christopher Demasi
September 16, 2019
Last week the Wall Street Journal reported that investors had pulled US$46 billion out of stock funds, the biggest monthly outflow of the year, and added to their holdings of corporate bonds. Looking at the return potential of these two asset classes this move appears to be a case of driving while looking in the rear vision mirror. Continue…
by Christopher Demasi Posted in Global markets.
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Assets hidden in Alibaba’s cloud!
Christopher Demasi
August 29, 2019
Earlier this month I noted Alphabet, owner of Google, had a Fortune 500-size business hidden away in its “Other” reported revenues: Google Cloud. Did you know that another of our holdings – Alibaba, the Chinese owner of the world’s largest e-commerce platform, also has a massive cloud business? Continue…
by Christopher Demasi Posted in Companies, Stocks We Like.
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- POSTED IN Companies, Stocks We Like.
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Property prices down…REA up?!
Christopher Demasi
August 15, 2019
Over the last four years property prices in Australia peaked and reversed, homes listed for sale have plummeted and the share price of REA Group, Australia’s online property classified portal, has… MORE THAN DOUBLED! Sounds strange perhaps, so I have included the chart from Bloomberg below. Continue…
by Christopher Demasi Posted in Companies, Stocks We Like.
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Alphabet’s next big business
Christopher Demasi
August 2, 2019
Alphabet is known as the owner of Google and YouTube, but did you know that Google has another business that is already the size of a Fortune500 company? Continue…
by Christopher Demasi Posted in Companies, Stocks We Like.
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Microsoft’s computer for the world is getting much bigger
Christopher Demasi
July 26, 2019
Last week Microsoft, the world’s largest enterprise software company, reported financial results for its fiscal year 2019. The Azure cloud business continues to be the star performer. Continue…
by Christopher Demasi Posted in Companies, Stocks We Like.
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Internet Advertising is Accelerating
Christopher Demasi
July 18, 2019
Every year around this time Mary Meeker, partner at venture capital firm Kleiner Perkins and former star technology analyst with investment bank Morgan Stanley, publishes “Internet Trends”. The document consists of more than 300 slides illustrating key online trends around the world. I always find it fascinating and a great way to keep tabs on how the Internet is serving users, merchants, advertisers, publishers, platforms and more. Continue…
by Christopher Demasi Posted in Companies, Stocks We Like.
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Equities not so expensive
Christopher Demasi
July 4, 2019
Ahead of the July 4 holiday here in the US the local stock market has closed at a record high. But shares may not be any more expensive on average than they have been over the past decade. Continue…
by Christopher Demasi Posted in Global markets, Market commentary.
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Too big to perform
Christopher Demasi
June 24, 2019
We have always been aware that as the amount of money a fund manager accumulates on behalf of his or her clients, the harder it becomes to access great opportunities at the size required to make a meaningfully positive difference to the returns achieved for those clients. It’s part of the problems of prosperity as Warren Buffett once quipped, that “size is the enemy of performance.” Continue…
by Christopher Demasi Posted in Global markets.
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