Oh, to be a ManCo

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:

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!

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