--- title: Our Insights | Damon Callaghan (2) description: Damon is a CFA Charterholder and holds a Bachelors of Commerce degree at UNSW. His career commenced in equity research at various Investment Banks including Nomura and J.P. Morgan, covering Small Caps, Telecommunications and Media. He then worked at Fidelity International until 2017, covering Property, Mining, Energy and Utilities. Damon also has some secret carpentry skills that he puts to work in his down-time! (2) --- - About: - [Philosophy](https://www.ecpam.com/philosophy) - [Performance](https://www.ecpam.com/performance) - [Team](https://www.ecpam.com/team) - [Sustainability](https://www.ecpam.com/sustainability) - [Insights](https://insights.ecpam.com/) - Invest: - Australian Equities - [ECP Growth Companies Fund](https://www.ecpam.com/growth) - [ECP Emerging Growth Limited](https://www.ecpam.com/emerging) - [Contact](https://www.ecpam.com/contact) - [Philosophy](https://www.ecpam.com/philosophy) - [Performance](https://www.ecpam.com/performance) - [Sustainability](https://www.ecpam.com/sustainability) - [Team](https://www.ecpam.com/team) - [Insights](https://insights.ecpam.com/) - Invest: - [Unlisted](https://www.ecpam.com/growth) - [Listed](https://www.ecpam.com/emerging) - [Contact](https://www.ecpam.com/contact) ## ECP Insights A selection of articles written by our team to give insight into how we think about the world [subscribe](https://share.hsforms.com/1VGopDBb-SBq8Eapqpff46Qbludr) ![image description](https://insights.ecpam.com/hubfs/img5.png) ## Articles - [LATEST](https://insights.ecpam.com) - [Portfolio](https://insights.ecpam.com/tag/portfolio) - [Philosophy](https://insights.ecpam.com/tag/philosophy) - [Process](https://insights.ecpam.com/tag/process) - [Sustainability](https://insights.ecpam.com/tag/sustainability) - [Blog](https://insights.ecpam.com/tag/blog) [![Hub24 and Netwealth](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-20.svg)](https://insights.ecpam.com/2021/06/01/hub24-and-netwealth) ## [Hub24 and Netwealth](https://insights.ecpam.com/2021/06/01/hub24-and-netwealth) Jun 02, 2021 4 minute read Inflation, long-term bond yields and growth stocks are front of mind for many investors. We believe concerns of rising discount rates impacting present day valuations need to be weighed in... Read full [article](https://insights.ecpam.com/2021/06/01/hub24-and-netwealth) [![Weighing Network-based Competitive Advantages](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-18.svg)](https://insights.ecpam.com/2020/09/04/weighing-network-based-competitive-advantages) ## [Weighing Network-based Competitive Advantages](https://insights.ecpam.com/2020/09/04/weighing-network-based-competitive-advantages) Sep 05, 2020 8 minute read Networks are one of the most powerful competitive advantages a business can possess. Strong network effects make it difficult for businesses to be replicated, enabling long-term pricing power.... Read full [article](https://insights.ecpam.com/2020/09/04/weighing-network-based-competitive-advantages) [![Capital Preservation  —  Afterpay in Focus](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-13.svg)](https://insights.ecpam.com/2020/03/19/capital-preservation-afterpay-in-focus) ## [Capital Preservation  —  Afterpay in Focus](https://insights.ecpam.com/2020/03/19/capital-preservation-afterpay-in-focus) Mar 20, 2020 7 minute read We have a saying at ECP, ‘sleep well before eating well’. As a high conviction fund manager with a focus on capital preservation, we need to sleep at night knowing our portfolio companies have... Read full [article](https://insights.ecpam.com/2020/03/19/capital-preservation-afterpay-in-focus) [![The early innings of enterprise cloud software](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-07.svg)](https://insights.ecpam.com/2020/01/21/the-early-innings-of-enterprise-cloud-software) ## [The early innings of enterprise cloud software](https://insights.ecpam.com/2020/01/21/the-early-innings-of-enterprise-cloud-software) Jan 22, 2020 4 minute read Enterprise software is in the midst of a structural shift toward cloud-enabled platforms. In-house systems, localised IT teams, unsupported third-party software, and expensive solutions by incumbents... Read full [article](https://insights.ecpam.com/2020/01/21/the-early-innings-of-enterprise-cloud-software) [![Afterpay  —  is Visa a Risk?](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-09-1.svg)](https://insights.ecpam.com/2019/07/01/afterpay-is-visa-a-risk) ## [Afterpay  —  is Visa a Risk?](https://insights.ecpam.com/2019/07/01/afterpay-is-visa-a-risk) Jul 02, 2019 7 minute read Afterpay’s competitive differentiation underpins a sustainable business model that we expect will continue to drive its market share growth in the US. Visa’s recent announcement will not impact... Read full [article](https://insights.ecpam.com/2019/07/01/afterpay-is-visa-a-risk) [![Challenger — a quality franchise but not without risk](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-17.svg)](https://insights.ecpam.com/2019/05/06/challenger-a-quality-franchise-but-not-without-risk) ## [Challenger — a quality franchise but not without risk](https://insights.ecpam.com/2019/05/06/challenger-a-quality-franchise-but-not-without-risk) May 07, 2019 5 minute read Challenger Limited (ASX: CGF) is a quality franchise, but one that is not without risk. At ECP we are constantly revisiting previous investment ideas as the modern business environment is constantly... Read full [article](https://insights.ecpam.com/2019/05/06/challenger-a-quality-franchise-but-not-without-risk) [![What Regulation Would Mean For Afterpay in Australia](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-27.svg)](https://insights.ecpam.com/2018/11/15/what-regulation-would-mean-for-afterpay-in-australia) ## [What Regulation Would Mean For Afterpay in Australia](https://insights.ecpam.com/2018/11/15/what-regulation-would-mean-for-afterpay-in-australia) Nov 16, 2018 7 minute read With no interest and explicit repayment schedules, Afterpay (ASX: APT) has epitomised millennial behaviour and presented a simple product that gives consumers greater control over their credit spend.... Read full [article](https://insights.ecpam.com/2018/11/15/what-regulation-would-mean-for-afterpay-in-australia) ## Featured Articles [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-16-2.svg)](https://insights.ecpam.com/long-live-software-part-ii) ## [Long Live Software: Part II](https://insights.ecpam.com/long-live-software-part-ii) Read full [article](https://insights.ecpam.com/long-live-software-part-ii) Feb 18, 2026 5 min read [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-19-2.svg)](https://insights.ecpam.com/long-live-software-part-i) ## [Long Live Software: Part I](https://insights.ecpam.com/long-live-software-part-i) Read full [article](https://insights.ecpam.com/long-live-software-part-i) Feb 17, 2026 4 min read [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnLightGrey-12.svg)](https://insights.ecpam.com/psych-test-your-investment-manager) ## [Psych Test Your Investment Manager](https://insights.ecpam.com/psych-test-your-investment-manager) Read full [article](https://insights.ecpam.com/psych-test-your-investment-manager) Jul 18, 2024 9 min read [![ECPAM Insights Listing Page](https://insights.ecpam.com/hubfs/ECP_Illustrations-OnVibrantBlue-27.svg)](https://insights.ecpam.com/artificial-intelligence) ## [Real returns from Artificial Intelligence](https://insights.ecpam.com/artificial-intelligence) Read full [article](https://insights.ecpam.com/artificial-intelligence) Nov 23, 2023 3 min read ##### Find out more - [Philosophy](https://www.ecpam.com/philosophy) - [Performance](https://www.ecpam.com/performance) - [Sustainability](https://www.ecpam.com/sustainability) - [Team](https://www.ecpam.com/team) - [Insights](https://insights.ecpam.com/) - [Invest: Listed | Unlisted](https://www.ecpam.com/emerging) - [Contact](https://www.ecpam.com/contact) - [Disclaimer](https://www.ecpam.com/disclaimer) - [Privacy](https://www.ecpam.com/privacy) ##### ECP Office Level 4, The Pavilion 388 George Street Sydney NSW 2000 T [+61 2 8651 6800](tel:+61%202%208651%206800) ##### Please note The information provided for you by ECP ASSET MANAGEMENT PTY LTD, ACN 158 827 582 (Corporate Authorised Representative 441986 of AFSL 421704). 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