| There's still time to register for Unlock the Stock at 12pm today but you'll need to be quick! Join us in unpacking CA&S Group, one of the most exciting growth companies on the local market. Attendance is free thanks to A2X and you need to register at this link>>> Speaking of quick, the Ghost Wrap podcast is all about speed and efficiency. At a rate of a company per minute, I bring you the latest news and my opinions on Bell Equipment, Transaction Capital, Capitec, Caxton & CTP, City Lodge and Sun International. Brought to you by Mazars, you'll find it here>>> And before we dig deeper into market insights, Singular Systems has brought a career opportunity to Ghost Mail readers. The company is advertising a Tax Data Analyst role in Joburg. You can find all the details at this link>>> Did you make time to recap these global groups?Recent Magic Markets podcasts have focused on insights from the latest earnings releases of leading global companies. Here they are: Episode 141 considered Lululemon and Ulta Beauty, two highly successful groups taking advantage of the wellness and beauty trends.Episode 140 focused on Crocs and Nike, asking whether the shoes you want in your cupboard should also be what you want in your portfolio.Episode 139 was a tale of two levels of strategic focus, with Disney that has lost its way and Yum! Brands that keeps executing strongly.Episode 138 looked at two stalwarts of the US market: Caterpillar and Home Depot.If you work through all four of them, you'll learn so much about eight US companies and you'll achieve that in under 90 minutes. The insights you need are all around you in Ghost Mail. You just need to make time for them! And remember, if the bug really bites you in Magic Markets, we have Magic Markets Premium that opens up an entire new world of insights and depth of research for you. With nearly 100 shows in the library and a new report / podcast every week, the entire thing is available at R99/month at this link>>> We've still got rugby fever hereIs there anything that you can learn about investing based on what rugby coaches do? No, Rassie's Red Light Oscillator may not be the technical trading indicator that nobody knew existed, but there are definitely other elements of team sports and rugby that can be applied to your investing strategy. Siyabulela Nomoyi, a familiar voice to you from the various Satrix podcasts, takes a closer look in this article>>> While on the topic of Satrix, if you're looking to really enhance your understandin g of investing and how companies allocate capital, then Nico Katzke's discussion with me on the Ghost Stories podcast is such a worthwhile use of time. Sit back for 45 minutes and fill your brain with this show>>> Safe as houses?Property is one of those assets that many people assume will always be there and will always deliver solid returns. I'm convinced that it's because our parents drummed it into us at a young age that buying a house is always a good idea. Investors then infer that logic into their listed portfolio. But like every asset out there that gives a return, t here is risk involved. The risks are just different to other sectors. Growthpoint is an excellent proxy for the broader sector, although you need to remember that the offshore business is 45.8% of group assets and contributed 29.1% to distributable income per share in this period. The rest is from South Africa, where negative reversions (leases being concluded at a lower rate than the expired lease) remain the order of the day. The crown jewel by miles is the V&A Waterfront, which reported a 21.5% increase in distributable income. Outside of that, South Africa is in a tough spot. Growthpoint managed to increase its dividend per share by just 1.3% in the year ended June 2023. That's a lot less than the bank would've given you in interest. The outlook for FY24 is even more concerning, with an expected drop in distributable income per share of between 10% and 15%. Safe as houses, you say? Maybe. But there's nothing safe about offices in a post-pandemic world. It's not all bad news in property, with Attacq announcing a final distribution that matches the interim distribution, taking the full year distribution 16% higher. A focused portfolio can do well in this environment. Other notable news releases yesterday include a wobbly in the emeralds story at Gemfields, strong progress in the turnaround at Lesaka, earnings from financial services firms Old Mutual and Momentum Metropolitan, important results at Pan African Resources, a trading statement from small property company Putprop and an update from Universal Partners, surely the only company that enjo ys the dentist. Investing is all about the details. Get them on all these stories with a single click in Ghost Bites at this link>>> US inflation up - but risk-on?Markets don't always behave the way we expect. Although US inflation rose in August for the second consecutive month after bottoming out at 3.0% in June, with a notable 0.6% increase in the month-on-month print (nearly three times higher than expected), the rand somehow got stronger. The market still believes that the Fed will hold rates next week, with a hawkish undertone sugg esting higher rates for longer. TreasuryONE notes that this was the 6th consecutive positive day for the rand, breaking below R18.90. Oil prices are still moving higher, with tightening supply driving the price. Libya recently closed four eastern oil export terminals due to a severe storm, with voluntary supply cuts at Saudi Arabia and Russia. The balancing factor here is a concern around Chinese demand, which could stop Brent Crude reaching $100 a barrel. It's currently trading just below $92.50. Thanks for starting your day with Ghost Mail. It's great to have you here! | 