| Good morning Voornaam, Blockchain and crypto - words that tend to terrify traditional players in the market who think that this entire world consists of Musk posting pictures of dogecoins. Goodness knows there's still a huge amount of nonsense out there, like Haliey Welch (better known as the "Hawk Tuah" girl - and yes, Haliey really is the correct spelling) launching a coin that went really badly for punters. I can't bring myself to refer to anyone who bought that coin as an investor. My favourite comment on X was someone suggesting that she should Tawk Tuah lawyer in the aftermath of this little disaster!
And yet, despite all this, there are examples out there of blockchain technology doing useful things and offering efficient solutions. A great example is the collaboration between AnBro Capital and Mesh.trade, making it easier for investors to access AnBro funds. To help us learn more about this, Justine Brophy and Connie Bloem joined us on the latest episode of Magic Markets.
Jaltech is launching its final Section 12B investment for the 2025 financial year. They are hosting a webinar on 11 December to talk about the investment highlights and how it all works, targeting investors who would like to reduce their 2025 tax liability by taking advantage of solar investment incentives. Find out more and register for the webinar here>>>
In company news, Nampak has announced a B-BBEE deal that has some intelligent structuring behind it. While some listed companies are still doing B-BBEE deals that are a copy-paste of what was happening 20 years ago, others are finding ways to achieve their B-BBEE goals at a much lower cost to existing shareholders. This is a good time to remind you that every listed company has a diverse base of shareholders by this stage, so doing deals that are efficient for those shareholders is actually a far superior form of empowerment than making a bank rich through lazy structuring.
Speaking of banks, Absa could do with some of those juicy old-school deals heading its way. The going is tough out there, although earnings are in the green this year. The guidance for 2025 looks disappointing though, with Absa warning that margins could go backwards. Surely they should be doing something about that, not just telling the market it could happen?
In other company news, Trustco has released the circular for the Legal Shield transaction with Riskowitz Value Fund. Vukile has also updated the market on its delayed deal in Spain due to floods.
Get all the details on these stories and the various Nibbles (including the all-important director dealings) in Ghost Bites here>>>
If you are a qualifying Black-Owned business looking for equity capital, then MIC Khulisani Ventures could be the partner for you. In a Ghost Stories podcast, I spoke to Nchaupe Khaole and Keitumetse Lekaba about exactly what MIC is looking for. Get the details here>>>
Have you given the new format of Ghost Wrap a try yet? I've looked back on five great insights from November, like the importance of per-share metrics in property, the hunger in the local market for IPOs, the recovery in the poultry sector, the disaster that is Murray & Roberts and the way in which MultiChoice has clearly bet the farm on the Canal+ deal going ahead. Brought to you by Forvis Mazars, get the podcast and full transcript here>>>
Last but certainly not least, Friday means we get the great summaries and analytical pieces from the team at DealMakers. This week is no different, with the usual stuff on the week's South African M&A deals, South African corporate finance deals and deals in the rest of Africa. There are also pieces on contingent value rights as a mechanism in M&A deals, trends in private equity and the growing importance of ESG in large deals. Get your investment banking hat on and enjoy them!
Have a great day - see you on Sunday for Ghost Mail Weekender. |
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| THE TRADER'S HANDBOOK: The tech of trading (back-testing, market scanning and strategic tools) |
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| | | In this episode of The Trader’s Handbook, Shaun Murison from IG Markets South Africa joined me to discuss the advanced tools available on the IG platform that empower traders to make informed decisions. From back-testing strategies and market scanning with Pro Screener to exploring client sentiment, alerts, and algorithmic trading, this episode highlights the cutting-edge features that simplify and enhance trading.
Whether you’re new to trading or looking to refine your approach, this episode provides practical insights into leveraging technology to stay ahead in the markets. The podcast and detailed transcript are available here>>> |
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| MIC Khulisani Ventures is looking for entrepreneurs |
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| Raising equity funding is not easy for small businesses in South Africa, but thankfully the Mineworkers Investment Company's (MIC) Khulisani Ventures initiative is an early-stage funding vehicle that provides capital for businesses that are ready to aggressively grow.
Along with a detailed transcript, you'll find it here>>> |
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| SATRIX: Get to know the Satrix Global Balanced Fund of Funds ETF |
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| | | The Satrix Global Balanced Fund of Funds ETF aims to provide local investors with optimally diversified exposure to a global basket of indices representing different asset classes.
This is a low-cost, easy way to invest in a mix of equities, bonds, infrastructure, property, credit and cash assets.
Nico Katzke joined me to explain the concept of a balanced fund, the strategic asset allocation in this ETF and how Satrix has managed to achieve this exposure at just 35 basis points a year in costs.
Along with a detailed transcript, you'll find it here>>> |
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| DOMINIQUE OLIVIER - Novak Djokovic: pyramid-powered? |
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| | | In a classic case of selling the sizzle rather than the steak, one man in Bosnia has created quite the brand around a group of "pyramids" - or conveniently shaped hills. Novak Djokovic seems to believe in their power though! Dominique Olivier tells the story in this piece>>> |
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| Ghost Bites - local company news: |
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| Ghost Bites: The latest on Absa, Nampak, Trustco, Vukile Property Fund and numerous Nibbles in Ghost Bites here>>> |
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| Ghost Wrap - five insights from November |
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| | | Ghost Wrap: In a new format, I look back on key insights from November including the property sector, the demand for IPOs, the uptick in poultry businesses and more. Brought to you by Forvis Mazars, the podcast and transacript are available here>>> |
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| MAGAnomics: Trump and the global economy |
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| International Business Snippet: |
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| Ulta Beauty came in with a really surprising earnings beat, sending the shares 12% higher in after-hours trading. This comes after the company gave all kinds of dire warnings about the competitive environment in the last set of results.
Guidance for the full financial year was hiked for both revenue and earnings. Keep in mind that they still expect earnings to drop by low single digits in the holiday quarter, so much of this market response is simply because expectations for Ulta were subdued. This is proven by the share price chart, still down around 10% year-to-date despite this rally.
Our latest research in Magic Markets Premium is on Walmart. The retail giant is absolutely flying at the moment, with margins up and the share price well on its way to the moon. Can it keep going? Subscribers find out this week. |
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| Magic Markets: Year in Review - Alternatives at Westbrooke |
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| | | Magic Markets: As the year of global elections draws to a close, Dino Zuccollo of Westbrooke Alternative Asset Management joined us to look back on how global trends impacted the alternative lending space in markets where Westbrooke has a presence: South Africa, the UK and the USA. Find it here>>> |
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| IG Markets Morning Call: daily macroeconomic update |
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| While major US and European equity benchmarks pause around new high territory, we have seen a rebound in Asian indices the Hang Seng and Shanghai Composite this morning. Markets are anticipating another round of stimulus measures being announced by Chinese authorities next week.
On balance, we are expecting a slightly firmer start for the JSE All-Share Index this morning.
The dollar has softened slightly, supporting gains in the rand which now trades back around the R18/$ mark.
A softer dollar and promise of more Chinese stimulus is helping precious and base metals trade in positive territory this morning.
Oil prices have come under pressure once again. OPEC+ confirmed yesterday that they would delay the unwind of supply curbs by another three months, which was largely expected by markets. The group cited a weak demand outlook as reason to maintain current production curbs a little longer.
Traders will want to keep an eye out for Non-Farm Jobs and Unemployment Rate data out of the US this afternoon.
Key Indicators: USD/ZAR R18.02/$ | US 10yr 4.17% | Gold $2,636/oz | Platinum $943/oz | Brent Crude $71.90 |
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