| What do Tharisa and Telkom have in common? As it turns out, they are both dealing with the rain.
The former is a mining company, which means that rain is the enemy. An annual increase of 27% in rainfall is particularly unpleasant, with a negative impact on production numbers. The latter is a telecoms company that consumers love to hate. Trying desperately to move away from its legacy business, Telkom had previously considered a deal with MTN that fell over. Rain stepped in to try and work a deal, with the latest news being that even that deal has fallen over. Oh, and there's more bad news for Steinhoff. It has nothing to do with rain. A triple coincidence is too much to ask for. In the first edition of Ghost Bites of 2023 (mainly because SENS too k a week to become interesting again), I cover these stories and more. Read it here>>> The rich don't careReally, they don't. They aren't bothered by silly things like recessions, energy prices and other minor inconveniences. The CEO of Rolls-Royce has been quoted in the media as saying that they "haven't seen any slowdown or downturn" - not least of all thanks to footballers who keep celebrating big contracts with new Rolls-Royces. You have to be careful here: the listed Rolls-Royce entity has nothing to do with the cars. The manufacturer of the Phantom, Ghost and Spectre (names I approve of for obvious reasons) is part of BMW, so you can't b uy shares in it directly. That's a pity, after record sales in 2022 that saw the company breach the 6,000 units mark for the first time. Bentley also hit a record in 2022, delivering over 15,000 cars. As part of the Volkswagen Group, you can't get a direct slice of this action either. If you're looking for exposure to the luxury car industry, $RACE is the ticker you need to search. Down 8% in the past year, the valuation of Ferrari has taken a knock. We covered this company in Magic Markets Premium a few months ago and it was fascinating to delve into how the luxury industry really works. With Bernard Arnault (CEO of LVMH) now recognised as the world's richest person, it's a sector t hat is worth digging into. A market in limboThe rand traded in a tight range yesterday, holding firm around the R17.00 mark against the US dollar. Everyone is waiting for the US CPI data due later today, which could be the shot in the arm that the market needs. The expectation is for 6.6%, with a lower-than-expected print likely to put the US dollar on the back foot. TreasuryONE also expects the inflation number to have an effect on the gold price, so keep an eye out for that. Be sure to register for the TreasuryONE webinar, scheduled for next week Wednesday at 9am. We will be dealing with the outlook for 2023, so it looks set to be a fascinating discussion. You can attend for free and registration is required at this link>>> Finally, with new Magic Markets episodes set to go live today, make sure you didn't miss out on the final show of 2022. Our guest was Marko Papic, a highly respected international geopolitical analyst. We had a terrific discussion with him that I highly recommend you make time to listen to>>> Try and smile today, despite the Level 6 load shedding that is smashing all of us. Have a good one! | 