| Good morning Voornaam,
This morning at my girlfriend's house, I learnt that Scottish Terriers are incredibly brave when it comes to chasing squirrels, cats and leaves. They are less brave when they need to find an actual stranger hiding in the garden. Luckily, nothing bad happened. It's just another day in South Africa, really.
This is why I have cats at my place. There's really no expectation for them to do anything useful, so you can't be disappointed. With dogs, all kinds of desirable things are part of the package, ranging from loyalty through to guarding services. With cats, you're just happy if they didn't break anything that day.
This is how investing works. It's all about the expectations you pay for vs. what you actually get. If those Scotties were listed companies, there would've been a 15% drawdown this morning.
The smart money is on the cats.
Moving on, you still have time to register for Unlock the Stock with Lesaka Technologies on Thursday. This is a fascinating company focused on fintech solutions in Southern Africa. With a recent major acquisition under their belts and more that need to come, there's a lot to learn here. Thanks to A2X, attendance is free! You need to register at this link to attend>>>
There's a lot of new content today, so look carefully in the mailer. You've got a brand new Ghost Wrap and Ghost Stories to enjoy, with the latter focusing on the latest structured product at Investec.
Have a good day!
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| NEW: Ghost Stories podcast |
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| In the latest Ghost Stories podcast focusing on structured products with the Investec team, Japie Lubbe joined me to unpack the Optimal Investment Growth Basket.
It offers a maximum annualised return in USD of 9.8% per annum over five years, with 100% capital protection at maturity in USD.
Listen to the show to learn about how this product works and what the benefits and risks are. |
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| NEW: Magic Markets podcast |
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| In the aftermath of the pandemic, it's been fascinating to follow the recovery of the hospitality and tourism sector.
In the latest Magic Markets episode, we cover local hotel group Southern Sun and international cruise business Carnival Corporation.
Episode 145 of Magic Markets is brought to you by B2IT. |
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| New: Ghost Wrap podcast
(Famous Brands vs. Spur | Sibanye-Stillwater | De Beers | Mondi | Life Healthcare | Datatec | Fortress) |
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| | | The Ghost Wrap podcast looks at trends in local restaurants and diamonds, as well as news in the mining, paper, IT and property sectors. Ghost Wrap is brought to you by Mazars. |
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| | | The lessons dished out by the markets this year have been all about how companies cope in inflationary conditions. The winners have one thing in common: pricing power. |
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| CA Sales Holdings is a really strong example of how locally listed companies can deliver great returns. The management team returned to Unlock the Stock to unpack the recent performance and answer questions about the strategy and business model. Don't miss it! Unlock the Stock is brought to you by A2X. |
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| TreasuryONE Market Update There wasn't much new news from the conflict in the Middle East yesterday, so markets traded on sentiment rather than geopolitical factors. Fed members have been making dovish statements in the past few days, which suggests that the Fed might keep interest rates unchanged at the next meeting. This caused the US dollar to slip against other currencies and allowed the rand to strengthen by over 1%, trading at just over R19.00!
Surprisingly, oil prices have stabilised at around $87 per barrel, with WTI Oil almost trading higher than Brent Crude. Other commodities were mostly flat yesterday after taking strain in the past week. |
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| | | Get the latest on Equites Property Fund, MiX Telematics, Brikor, Sappi and Southern Palladium. It's all available with a single click in Ghost Bites. |
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| In the MiX There's an offer on the table for MiX Telematics. Before you panic about another listing disappearing from our market, the good news is that the acquirer (PowerFleet) is going to list on the local market as part of the deal. As PowerFleet has other global businesses and is currently listed on the Nasdaq (and the Tel Aviv Stock Exchange), we are in fact gaining something on our local market.
Also, more people in California might be able to find South Africa on a map now, which is quite exciting.
Other major news yesterday came in from Equites Property Fund, with a significant drop in the distribution per share in light of market conditions and of course higher interest rates. The strategy is to move away from the UK development pipeline, focusing on the South African market instead.
I'm also highlighting Sappi here, with the potential closure of another graphic paper mill in Europe (this time in Belgium). This is a cyclical industry and when things go wrong, marginal facilities are often on the chopping block.
In addition to these stories, Ghost Bites includes the latest on Brikor and Southern Palladium as well. Read it here>>> |
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| You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.
Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.
The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. |
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