Technology & Telecommunications
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Wrapping up Vita Group
David Buckland
June 8, 2017
Today’s blog will most likely be our final with respect to Vita Group Limited (ASX: VTG). In a portfolio of 20-30 companies, we will make mistakes – and VTG is, in absolute terms, one of our larger ones. Importantly, despite this loss and others The Montgomery Fund has outperformed over the long term. We also maintain a continued focus on where and why we erred. continue…
by David Buckland Posted in Companies, Editor's Pick, Technology & Telecommunications
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Take-Two’s business model powers its share price to new highs
George Hadjia
June 6, 2017
Our global funds have owned shares in video game company Take-Two Interactive (Nasdaq: TTWO) since their inception. During that time, the stock price has surged by over 180%. We were ahead of the pack in selecting TTWO as a key holding, and I’d like to set out why we were attracted to the business. continue…
by George Hadjia Posted in Companies, Technology & Telecommunications
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Which online technology platforms will dominate the future?
Daniel Wu
June 2, 2017
In our latest whitepaper, Andrew Macken wrote about online technology platforms. These platforms are the infrastructure upon which ecosystems are built, and we believe these businesses will dominate the future. But, like physical infrastructure, not all platforms are created equal. So, what are the traits of successful platforms, and how can investors separate the workhorses from the unicorns? continue…
by Daniel Wu Posted in Technology & Telecommunications
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Why we continue to put Vocus on hold
Scott Shuttleworth
June 1, 2017
Just 12 months ago, Vocus Group (ASX: VOC) soared above $9. Unfortunately, for investors who held on (happily not us – we sold out near the top) that was as good as it got. The telco’s share price has since plunged to around $3, which prompted us to re-evaluate the business. What we found failed to give us a buzz. continue…
by Scott Shuttleworth Posted in Technology & Telecommunications
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Why we continue to hold Vita Group
Scott Shuttleworth
May 15, 2017
Vita Group Limited (ASX: VTG) released an announcement that spooked the market, but was the news really that bad or did the market over-react? In this post we cover the main points of the announcement. continue…
by Scott Shuttleworth Posted in Companies, Editor's Pick, Technology & Telecommunications
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How network effects are made – and broken
Lisa Fedorenko
May 10, 2017
Look at any tech IPO nowadays and I bet you come across the term “network effects”. Network effects give a business a strong competitive advantage and are a source of value creation. So, what are they, how do they come about, and how can they be disrupted? continue…
by Lisa Fedorenko Posted in Technology & Telecommunications
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Telstra and TPG, who will win share?
Stuart Jackson
April 18, 2017
TPG has confirmed its intention to build a fourth mobile network in Australia with its successful A$1.26bn acquisition of two 10MHz spectrum licenses in the most recent Government tender. The market’s reaction has been savage, with the share price of the dominant incumbent operator Telstra, falling by almost 10 per cent since TPG’s announcement. continue…
by Stuart Jackson Posted in Editor's Pick, Technology & Telecommunications
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With advertising going digital, what now for traditional media?
Lisa Fedorenko
March 24, 2017
Few industries have been as radically transformed by the internet as advertising and, in turn, traditional media (newspapers, TV and magazines). A couple of decades ago, print media was critical to reaching an audience; now it’s relevance has significantly declined. And this switch in advertising spending from traditional media to digital media shows no sign of letting up. continue…
by Lisa Fedorenko Posted in Technology & Telecommunications
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Why Chorus Limited looks undervalued
Tim Kelley
March 16, 2017
One slightly unusual holding in our domestic funds is Chorus Limited (CNU), New Zealand’s largest owner of telecommunications networks. CNU has had a bumpy ride this last year, but we think the market has marked it down too far due to regulatory uncertainty. If we are right, then the company should re-rate. continue…
by Tim Kelley Posted in Companies, Technology & Telecommunications
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How Facebook has become the go-to platform for advertisers
Andrew Macken
February 27, 2017
It’s taken Facebook (NASDAQ: FB) just on 10 years to become the ubiquitous online platform of our time. With its Facebook social networking site and its acquisitions, Instagram and WhatsApp, the company has successfully created effective ways for users to build communities, communicate and consume content. But of course, Facebook is also an advertising business, and it competes with other advertising businesses – the majority of which should be worried. continue…
by Andrew Macken Posted in Companies, Technology & Telecommunications
