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Good Morning Voornaam,

Before I get into a minor rant about property management companies (or ManCos) on the JSE, I would like to start off with positive vibes around property by directing your attention to the latest opportunity at OrbVest. The US-focused property fund is no stranger to Ghost Mail readers, with a previous appearance on Ghost Stories by Justin Clarke (Ops Director at OrbVest). Aside from referring back to that excellent discussion, you can also read the latest article that deals with historical returns for investors and the investment opportunity available in 2023. As always, you must do your own research and arrive at your own decision! Find it here>>>

Life is hard - rather sell your salary to your boss!

Right, rant time.

If you earn a salary and even a bonus, you're working too hard. Instead, approach your boss and ask if you can rather start an asset management entity and charge double your current salary as a management fee. Best of all, if your boss wants to get out of that crazy contract, it will cost the company 10x your annual management fee.

Here's the real kicker: if the company buys out that contract, you get to stay on at the salary that you should've been earning for all those years anyway!

I know. I know. You don't actually do any asset management. In property, this doesn't matter. If you can loosel y point to an asset and tell everyone that you manage it, you're in the money!

If you think I'm being overly cynical, then do yourself a favour and read Ghost Bites today. Apart from a transaction at Investec Property Fund that works almost exactly this way from an economic perspective, you'll catch up on a ridiculously busy day on the local market that saw updates come through from AECI, Aspen, Brikor, Capital & Counties, Cashbuild, Caxton & CTP, Cognition, Harmony, MTN, Murray & Roberts, Stefanutti Stocks and Woolworths. Yes, it was that busy! Get everything you need with one click>>>

Back to basics: why doing your own research is important

In the latest article by Trive South Africa, Barry Dumas delves into why "doing your own research" is so important for investors. He also takes a practical view on the time available to the average investor to actually do that research. Read it here>>>

Speaking of doing your own research...

The Unlock the Stock platform is designed for precisely this purpose, giving retail investors access to management teams in a way that hasn't existed before in South Africa. With the ability to choose a breakout room and ask questions directly to management, I'm so proud of what we've built in Unlock the Stock. The latest event featured Afrimat and Capital Appreciation and you can watch the recording here>>>

A trio of podcasts

It's time to fight with that bundled mass of wires on your desk known as "earphones", unless you're one of the cool kids with wireless ones. In that case, you definitely have no excuse not to enjoy at least one of these:

Nico Katzke of Satrix joined me for an in-depth Ghost Stories discussion on a wide range of market topics, including growth vs. value investing and the relative outlook for each style.
Episode 13 of Ghost Wrap (brought to you by Mazars) looked at the latest news from Adcock Ingram, KAP Industrial Holdings, Motus, Tiger Brands, Quantum Foods, Libstar, Bidcorp and City Lodge. I manage to get through these updates in less than nine minutes! Find it here>>>
In Episode 113 of Magic Markets, Mohammed Nalla and I unpacked some of the winners and losers in our global portfolio. We talked about Visa, Disney, Simon Property Group, Accenture, Ferrari, Hasbro and Fedexont>. Give your money a passport here>>>

A volatile day for the rand

The rand bounced back by nearly 40 cents from the high of R18.51 the prior day, only to slip back in afternoon trade. It was a volatile day, with good data out of China adding to the rand's recovery. ISM Manufacturing data then gave more fire to the inflation narrative out of the US, driving a stronger dollar.

Sadly, TreasuryONE notes that the rand was the worst performing currency in February out of the basket that gets monitored.

In US yields , the increase in yields continued as 10-year yields hovered just below 4% and 2-year yields traded at around 4.85%. For once, gold at least had a good day! PGMs were also higher, in good news for local miners.

You've got a lot to get through today. I'll leave you to it!

Ghost Bites (AECI | Aspen | Brikor | Capital & Counties | Cashbuild | Caxton & CTP | Cognition | Harmony | Investec Property Fund | MTN | Murray & Roberts | Stefanutti Stocks | Woolworths)

This was a monumental day of updates on the JSE, with 13 updates worthy of mini-features and several more that deserved a mention. This is the only place to get everything with one click.

Managing your downside risk with medical buildings - Brought to you by Orbvest

Traditionally, risk-averse investors tended to keep their money in cash, but in many countries the real after-tax return on cash is below the inflation rate, which means those cash holdings are actually losing value

Not your average retail investment research

Do your own research" was perhaps the phrase of the pandemic, at least in the markets! For a new cohort of retail investors that entered the market, why is it so important? Barry Dumas of Trive explains.

Unlock the Stock: Afrimat and Capital Appreciation

Unlock the Stock is back! In the fourteenth edition, we welcomed Afrimat and Capital Appreciation back to the platform for a presentation and Q&A. Unlock the Stock is brought to you by A2X.

Ghost Stories #7: Growth, Value and Markets (Nico Katzke, Head: Portfolio Solutions at Satrix)

Nico Katzke has an absolute wealth of experience and knowledge, which is why he is the Head of Portfolio Solutions at Satrix. He joined me to talk about, well, almost everything!

Listen Now

Magic Markets Ep113: Portfolio Winners and Losers

In this episode, we spoke through positions in our portfolio including Visa, Disney, Simon Property Group, Hasbro, Accenture and Ferrari.

Listen Now

Ghost Wrap 13 (Adcock Ingram | KAP Industrial Holdings | Motus | Tiger Brands | Quantum Foods | Libstar | Bidcorp | City Lodge)

Covering numerous updates across the pharmaceutical, industrial, FMCG and hospitality sectors this week, Ghost Wrap is your whirlwind update on the week's most interesting JSE updates. Ghost Wrap is brought to you by Mazars.

Listen Now

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