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Good Morning Voornaam,

You've probably never even heard of Cognition Holdings. This obscure JSE-listed company is majority-owned by the Caxton & CTP group and has a market cap of around R172 million. It should therefore make your ears prick up that the company has sold one of its investments for R150 million!

I would wager that you've used the Private Property website before. One of the key figures in building the business was Justin Clarke, a name you may recognise from Episode 2 of Ghost Stories. His story of how the business pivoted and survived one challenge after another becomes even more relevant now that Cognition is selling its 50.01% stake for R150 million. This values the co mpany at around R300 million, a huge valuation for a business that only made a profit last year of R10.2 million!

You can read about this deal in Ghost Bites this morning, along with African Bank's latest acquisition, results from Grindrod and Northam Platinum and the news of Rebosis Property Fund entering business rescue. It also looks like Conduit Capital is in heaps of trouble.

Chris Gilmour gets his passport out again

Chris has treated us to another geopolitical piece this morning, this time focusing on Taiwan. The US has great interest in this disputed territory, as Taiwan is the world's most important producer of semiconductors (microchips). Google "Taiwan Semiconductor Company" and you'll get it.

In this piece, he looks at the history of Taiwan and how the recent visit by Nancy Pelosi has impacted US - China relations. There are some uncommon insights in here!

Daily market wrap with TreasuryONE

After the market waited the entire week for the big moment, Fed Chair Jerome Powella's speech at Jackson Hole was just seven minutes long. It reiterated the mantra that monetary policy will be data-driven going forward, with markets struggling to digest the short speech. The rand traded wildly in a 10-cent range after the speech.

Heading into the new week, the US non-farm payroll number will come into focus on Friday. With US data carrying great importance for monetary policy, all eyes w ill be on that release.

TreasuryONE offers more than just market risk services, like cash flow forecasting. If you are a business owner or if you work with an organisation's cash flow, you should check out this article demonstrating its importance and how the TreasuryONE technology works.

Magic Markets

In Episode 90 of Magic Markets, we welcomed Petri Redelinghuys of Herenya Capital Advisors back to the show. We dug into the portfolios that he manages on behalf of clients, with a discuss ion on specific positions and strategies within the local and offshore portfolios.

Have a lovely start to your week!

Ghost Bites Vol 78 (22)

There was some juicy M&A on Friday, with news of African Bank acquiring Ubank and Cognition Holdings selling Private Property at a huge valuation. Rebosis is in business rescue. Grindrod and Northam Platinum released results.

China's Malacca dilemma

Chris Gilmour puts on his geopolitical hat once more and gives excellent context to the importance of Taiwan and the impact on US - China relations in particular.

TreasuryONE: Reduce cash flow forecasting time by 75%

TreasuryONE wants to help you reduce the time spent on cash flow forecasting, while improving accuracy and freeing up more time for analysis.

Magic Markets Ep90: The Herenya Portfolios

Petri Redelinghuys and his team at Herenya manage portfolios on behalf of clients in addition to running the trading community. We dig into some of the holdings.

Listen Now

Ghost Stories Ep2: Justin Clarke (OrbVest)

Justin Clarke founded Private Property and helped steer the business through two financial crises and an investment by famous firm Tiger Global Management. He is now Ops Director at OrbVest, giving South African investors access to US medical real estate

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