| The JSE was the laggard last month, declining 0.5% while other markets fared far better. For example, the S&P 500 and NASDAQ in the US had their best August in decades, gaining about 7% over the month. Optimism that vaccines and treatments for Covid-19 are imminent helped the US markets. But it's a handful of shares have done a lot of the heavy lifting; big technology stocks including Amazon, Apple, Alphabet and Microsoft - as well as the world's most valuable car company, Tesla. In today's newsletter, Viv Govender, wealth manager at Rand Swiss, asks the question: Is it too late to buy mega-cap tech stocks? As mentioned yesterday, InceConnect has partnered with Rand Swiss, SA's leading boutique broker. You can become a Rand Swiss client in 3 easy steps, choosing the level of service you require from your Rand Swiss representative, depending on how involved you need it to be in each buy and sell decision. Click here to find out more. Also in today's newsletter, as Sun International prepares to reopen Sun City it has revealed the damage the lockdown has done to its accounts. RCL Foods has also been impacted by Covid-19 but has been saved by its diverse portfolio of businesses. The same goes for African Rainbow Minerals. Education and staffing group ADvTECH was marked up by investors on the back of its interim results and Life Healthcare believes the worst may be behind it. Finally, Sasol says it doesn't look like Hurricane Laura caused much damage to its Lake Charles Chemicals Project in the US but it remains shut for now. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics If you're keen on gold Ingham Analytics has issued a note "Gold bug?". Gold is flying. Even Berkshire Hathaway has belatedly become a gold bug. What is driving this? And why is South Africa not reaping the bonanza that Australia is? For investors keen on diversifying into gold at a time of world-wide fiscal and monetary stimulus, there is a universe of alternatives say Ingham Analytics - you don't need to be confined to the JSE as both the Australian Stock Exchange and the Toronto Stock Exchange have some high-quality gold counter choices. But can the gold price keep at around $2,000/oz? Banking was again in the spotlight last week with a note entitled "Skin on the bones" and while Ingham Analytics have long recommended avoiding banks' (with the exception of Capitec) they are saying Standard Bank is now on the radar but at the right price. Apple has had its four-for-one stock split, the fifth split in the company's history."An Apple a day...?"is timely reading. But you're paying 70% more for the same earnings stream than you were at the beginning of January. And share buybacks, which inflate EPS, look like they'll remain on the agenda. | 