| Good morning Voornaam, Welcome to a new week! The sun is shining and the tax deadline is only two weeks away. There's always an adulting-style activity to worry about on a Monday morning.
One of the most adulting things around is to pay tax, let's face it. There's no choice in the matter and there are many ways to get it wrong.
In the aftermath of COVID (and because South Africans are so smart), we've seen many South Africans working for foreign employers. It's also common for our people to move overseas to work for a foreign or South African employer. These things bring complexities for employers and employees alike. To highlight some of the common errors and to make you aware of where you can get help to solve these problems, Elzahne Henn of Forvis Mazars in South Africa joined me for an excellent and practical discussion on these concepts. Unless you are a South African working in South Africa for another South African, you need to listen to it or read the transcript.
Another learning opportunity this morning comes to you in the form of the head and shoulders pattern, which has nothing whatsoever to do with shampoo. This is a powerful chart pattern that can really help you to avoid trouble. If you use the inverse pattern though, it's a great way to find opportunities. This article by IG Markets South Africa incluudes loads of great chart examples and additional information on the topic.
In company news, we saw exciting stuff out of Metair on Friday. The company isn't exactly in a position of strength right now, yet they are taking a risk and buying Autozone out of business rescue. It's a terrific example of how private equity can go wrong, leading to a private company like Autozone needing someone to save it. I took the opportunity to go into detail on that topic.
Over at EOH, I'm afraid that the group is still loss-making. I'm really not sure when / if things are going to improve there. I have no position in EOH and the business model doesn't excite me.
Along with news of a renewable energy project at Northam Platinum, I covered the Metair and EOH stories and numerous Nibbles in Ghost Bites at this link>>>
If you want to lift your head from the markets, Dominique Olivier has written on her experience at the Venice Biennale and how the most important art event in the world is a strong reflection of the geopolitical environment in which we find ourselves. The stories of humanity are told on those walls. Read it here>>>
Have a great start to your week and remember to register for Unlock the Stock this Thursday, featuring Pan African Resources.
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| FEATURED: Global Mobility - Common Mistakes by Employers and Employees |
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| Ghost Stories podcast: Elzahne Henn of Forvis Mazars in South Africa sheds light on the common mistakes and misconceptions related to cross-border employment. These insights are valuable for employers and employees alike. Enjoy it here>>> |
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| FEATURED: The Trader's Handbook Ep 7 |
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| | | IG Markets Episode 7: Building on previous discussions around technical trading indicators, we explored the concept of volatility and its significance in managing risk. We talked about stop losses, leverage and position sizing. We also included a piece on support and resistance lines. Learn all about it at this link>>> |
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| Satrix: Index-tracking and the balance between returns and fees |
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| Satrix: The importance of fees in an investment strategy cannot be emphasised enough, especially when you consider the power of compounding. In this piece, Satrix explains how index-tracking strategies help balance returns and fees. Find it here>>> |
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| Dominique Olivier: Venice Biennale - The World at a Glance |
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| | | Dominique Olivier: If art is a mirror, as the saying goes, then the Venice Biennale offers what can only be described as a panoramic reflection of the world in 2024. In this exclusive for Ghost Mail, Dominique takes you on a journey into how contemporary art is the outlet for humanity. Get it here>>> |
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| Ghost Bites - local company news: |
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| Ghost Bites: The latest on EOH, Metair, Northam Platinum and numerous Nibbles in Ghost Bites here>>> |
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| | | Ghost Wrap: Get up to date on the performance and latest news at Nampak, SPAR, Metair and Transaction Capital in just a few minutes. Brought to you by Forvis Mazars, you can enjoy Ghost Wrap here>>> |
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| CA Sales Holdings on Unlock the Stock |
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| Unlock the Stock: CA Sales Holdings has been a regular feature of Unlock the Stock. Those who have backed the strategy have gotten excellent returns from it. In this video, they presented the recent numbers and engaged with the audience's questions. Get it here>>> |
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| Investec podcast: responsible investing |
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| | | Investec Wealth & Investment International has launched a comprehensive guidebook on responsible investing. In the latest episode of the No Ordinary Wednesday, Jeremy Maggs speaks to the authors, Boipelo Rabothata and Maxine Gray. Enjoy it here>>> |
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| International Business Snippet: |
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| If you feel like there hasn't been much originality in movies lately, you aren't wrong. As CNBC reports, the top 10 titles on the box office this year are from existing intellectual property (IP). Next year, between 50% and 70% of the movies from the six major studios are based on intellectual property.
Why should you care as an investor? Well, the likes of Disney are built entirely on IP. Hasbro is a combination of toys and games that are either produced in-house (including my beloved Magic: The Gathering) or under license from others. What about Netflix and their huge push into Netflix Originals?
Being able to tell stories is big business and the owners of IP seem to be focusing on what they know. Another great example is Nintendo, where Super Mario and Pokemon have been absolute goldmines. Saudi Arabia's sovereign wealth fund sees the opportunities there, with a plan to increase its stake in Nintendo. This news sent the Nintendo share price higher.
Our latest research in Magic Markets Premium is on Verizon. Do the economics for telecoms players look any better in the US than in South Africa? You'll find out in the latest report for our subscribers this week. |
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| Magic Markets: How to Read a Balance Sheet |
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| | | Magic Markets: The balance sheet is often the difference between success and failure for a corporate.
Reading a balance sheet is a key step in equity analysis, but what are the most important things to look out for? Get it here>>> |
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| IG Morning Call: daily macroeconomic update |
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| Strong jobs data out of the US on Friday has reduced bets for another outsized rate cut in the world’s largest economy. The news has been met with further strength in the US dollar and Treasury Yields.
US and European equity markets ended Friday’s session in positive territory, while futures markets are suggesting marginal profit taking in early trade. Asian benchmarks are extending short term gains as they continue to ride the euphoria instigated by recent stimulus measures within the region. The JSE All-Share Index is expected to open up flat to marginally firmer this morning.
The stronger dollar is weighing on the price of gold this morning.
Oil markets remain elevated amidst angst in the Middle East.
There is no high impact economic data scheduled for today.
Key Indicators: USD/ZAR R17.48/$ | US 10yr 3.98% | Gold $2,640/oz | Platinum $982/oz | Brent Crude $77.55
The macroeconomic update is based on IG's morning call update |
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